Kartik Mehta: Hey, good morning. Dave in the past, we’ve talked about maybe the backlog in the business. I know you don’t report that. But the one way I know you kind of look at revenue and your ability to kind of projected backlog of installed teams and seems as though you’ve been winning a lot. If you kind of look at that metric, over the next maybe 12-18 months, is that still look very good and give you confidence from a revenue standpoint?
David Foss: Yes, we actually have a report card that I look at every month, that shows the number of we refer to as a slot. So the number of conversion slots, the number of conversions that we’re prepared to do in any given quarter. And it shows how many of those slots are already booked, how many of them are being held, because there’s a deal that’s in process where a customer has said, hey, I want to convert to nine months as opposed to 18 months, and then how many are open. And our backlog on the core side is well into the next fiscal year as far as those slots being held. Now, once in a while when I say things like that people will say, well, hey, you ought to just go hire more people and speed that up. The thing you have to remember is this isn’t about hiring more people.
And we can do a conversion in a month. Conversion when you’re doing an entire core conversion. Normally you plan for 12 months and that’s not because Jack Henry so slow, we can’t do it any faster. It’s because there is so much to be absorbed on the customer side. They’re trying to run the bank or credit union and at that same time, they’re learning all new systems and all new processes and they are validating data to be converted, and it’s just a very large, massive project. And so we manage our backlog really well, I think our conversion team has managed the backlog well. We do a similar exercise for every other product that we have. The core backlog is the one that normally gets a lot of attention. But every product we have, we have that exercise and that reporting.
And so we can staff up and staff down as we need to, generally fairly easily certainly, there are some roles that are very specialized and you can’t simply move people from one group and not to another based on demand. But generally, we can do that pretty easily and manage our backlog effectively.
Kartik Mehta: And then just one of the issues that you always hear banks talk about especially maybe community banks and credit unions is having to deal with fraud, whether it’s fraud related to P2P payments, or fraud related to their ATM business or checking accounts. And I’m wondering from Jack Henry’s perspective, how you might be able to help your customers and how that might help Jack Henry in terms of selling products.
Greg Adelson: Yes, Kartik, this is Greg, I’ll take that one. So a couple things. So even in the Payrailz acquisition, we have a fraud module that we’re actually rolling out with our open loop P2P. So again, it provides an extra layer of fraud protection for that, actually, there’s a unlike sale which is it revocable and a couple of the other faster payment solutions, there’s an option as when the receiver gets it to designate how they want to receive the payment. And as part of that process, we have an extra kind of fraud layer there. The other thing as Dave mentioned our Financial Crimes Defender products, that one is going to be specifically tailored for the opportunity to help with both sell fraud, and other Faster Payments fraud, because it’s got real time components to it.
