MeridianLink, Inc. (NYSE:MLNK) Q1 2024 Earnings Call Transcript

Alex Sklar: Okay, great color on that. Maybe one follow-up for you, Nicolaas, just in terms of the customer Space Coast that took the automated decisioning and implemented is now live. Can you just talk about just something unique from that customer’s perspective in terms of being ready to adopt versus your average customer base? I’m just kind of curious if there’s been any change in terms of the overall appetite for your customers and prospects to similarly adopt that automated decisioning that you’ve been talking about for a while now?

Chris Maloof: This is Chris. I’ll take that one. When you think of — because it all goes back to the digital progression where they are within that journey, I would say that more and more organizations are investing to move up that course. And what I mean by that is it’s all about how are you out competing for consumers and a core measure about competing for consumers is your instant decisioning rate. And that’s what our advanced decisioning tool allows our financial institutions to do, so, more specifically, providing more data points and more data trees for them to profitably decision the highest percentage of their incoming consumers as possible. So, we are seeing a higher take rate as people are seeing digital transformation being more critical to them for success.

Alex Sklar: Thanks, Chris, and great color there. All right, thank you all.

Operator: [Operator Instructions] There are no further questions at this time. I would now like to hand it back over to management for closing remarks.

Nicolaas Vlok: Thank you, Operator. And as we wrap up, I know you’ll join me in welcoming Larry as our CFO. His experience is an asset to our business, and I’m glad he made the decision to join the team. Speaking of the team, I want to thank everyone at MeridianLink for a solid Q1 performance. I’m consistently impressed by our employees’ dedication, innovation and drive to succeed. And ending on a real high note, we are pleased to share that we have won a Product Innovations TV Award. We share this award with a customer, Fed Choice for the innovative use of MeridianLink Insight to make measurable improvements across the lending life cycle. We’re honored to be their trusted partner and also so many other leading FIs. We look forward to speaking with you again soon and enjoy the rest of your day.

Operator: Thank you. And ladies and gentlemen, this concludes today’s conference call. You may now disconnect.