Alex Shootman: And the great news for us is that higher RPU for both credit unions and banks coming on board, certainly a contribution to that as we’ve got a really excellent sales team. But also the surface area of what people want to do with digital banking has grown. And so there’s a demand pull in terms of number of products that people are purchasing today versus call it five or six years ago.
Operator: Your next question comes from the line of Jeff Van Rhee from Craig-Hallum.
Jeff Van Rhee: Evening. Great. Thanks for taking the questions, guys. Couple on the products side. First, I guess is banks are really struggling and credit unions too and focused on asset gathering would correlate that into the analytics. I mean, since you bought Segmint, Inc., can you just talk about whether and how it’s met or not met your expectations. Just curious your overall thoughts on analytics as it relates to Segmint. And then also on in terms of recent deals maybe I missed it, but any update on in terms of attached rates to deals?
Alex Shootman: Yes. First of all, let me just give you a commentary on the attracting assets cause there’re really interesting that’s happening with our customers is they’re trying to navigate two different competing pressures. One is they want to offer very convenient items like digital account opening, right? So really convenient capabilities for folks like digital account openings. But the more that they enable digital account opening, the more that they can suffer from fraud attacks. Several other customers that I talked to had anywhere upwards of 70% to 75% of the accounts that were opened with digital account opening were fraudulent accounts. So I would just say overall, and then I’ll get to the discussion on analytics.
But overall, we see this really interesting intersection between what customers want to do is have a great digital account opening experience, they want to have very easy and intuitive money movement. But the more that they press on those, then the more that they’re challenged by fraud. So that’s a great place for somebody like an Alkami to be, both a strategic provider and a product provider to help the customer navigate. I mentioned in my opening comments that we’re seeing demand in the Alkami data platform, which is what is able to drive analytics. And so that product is something that’s creating great business results for us. And so Brian I don’t we — I know we don’t break it out separately, but you may have some commentary just in terms of that product line.
Bryan Hill: Yeah. In terms of the contribution, both Segmint and ACH Alert, so two of our acquisitions, they contribute a little over 20% of our new sales bookings, both in Q1 of this year as well as full year 2023. So that’s been pretty consistent for the last 15 to 18 months, in each of those contributing about 10% of each. So it’s not really weighted more on towards the other.
Jeff Van Rhee: Very helpful. And then I guess just when you do see the existing base come back for upsells or additional product and you think about the next year or two, it’s a variation of the last question, but curious where you see the greatest wider — the greatest opportunity to upsell value-wise into your existing base by product?
Bryan Hill: Jeff, right now on average, our clients are taking 13 of our products, and we have 32 products that we offer. So the space is significant. And it depends on the financial institutions’ strategy of what they’re trying to accomplish on the areas that they’ll choose to invest in. We called out in our prepared comments a few areas that we saw greater adoption in the first quarter of 2024. And those were around marketing and data insights, which that’s predominantly Segmint, and also in the fraud area because fraud is top of mind for financial institutions and that covers ACH Alert and account takeover and some of those type products. And then other areas where we saw some nice adoption was within our customer service areas. So that’s where AI starts to come into play through chat and other types of products. And then finally, financial wellness which is around credit scoring and those types of sub-products.
Alex Shootman: And then, you know, one thing I would try to say if you translate that to customer conversation, it’s always about can I get transactional data that I can either analyze with your models or drive into the data stack that I have internally, help me manage fraud, either keeping the bad guys out or keeping money from leaving, help me make money movement easier. And then a tremendous amount of demand on I want to be able to do a digital card issuance, and then I want to be able to push that card to a digital wallet. So anything that you think about that you read in terms of creating a really great digital experience for a customer and a member, that’s driving demand for our products.
Operator: There are no more questions at this time. Thank you for attending the Alkami’s first-quarter earnings call. You may now disconnect.
