Chris Maloof: This is Chris. So first and foremost, we’ve maintained healthy momentum from a unit sales perspective of the last few years and mortgage. And as we go out into the market and look for opportunities to grow the business, OpenClose came to bear, and it came to bear at great value given the market conditions. And that combined with our current unit sales momentum led to the ultimate decision. Now, when we think about the go forward on €“ and what are €“ how do we think about from a solution set to maximize our potential on the market? OpenClose and MeridianLink have highly complementary end markets. So OpenClose leans a little bit more heavily towards depositories, which is highly complementary to the MeridianLink One customer story and MeridianLink Mortgage tends slightly over to the independent mortgage bankers side.
So there’s some nuances between those two that we’ll bring together that will add more value to our customers, and being more specific over the short term, we plan to leverage OpenClose is point-of-sale and configurable point-of-sale for all of the customer base as well as for on the MeridianLink Mortgage side, we have a great position from a competitive perspective on our pricing and packaging engine to serve the broader market. So that’ll be the, our first foray into bringing the best IP together for both customer sets going forward.
Sean Blitchok: Yes, and this is Sean. I’ll just add that competitively, this really puts us in a unique position, right? So, I think this puts us in a position to compete with our top competitors going forward in the combined company.
Unidentified Analyst: Got it. Thanks. With a follow up question as well. So with the MeridianLink back to like wrapping up your migration, I was curious, are there any other areas you’re looking to like organically investing and how you grow the growth probability around MeridianLink One platform?
Chris Maloof: This is Chris. I’m very excited, one on completing the cloud migration. And then second and equally exciting is bringing up the R&D capacity that was involved in moving to be a cloud native infrastructure. So that that capacity will be directed towards supporting our customer promise, which again, as Nicolaas and Sean highlighted, is around enabling our customers to out compete for consumers. And we do that through speed. If you are fast in how you engage your consumers, you can help them, you can help our customers win. And we’ll do that three ways from an R&D perspective. First is enabling tools around instant decisioning. The second is supporting, the first is the back office automation and verification tools that enable that instant decisioning.
And then finally third, now that we’re in a cloud infrastructure, and this is coming to reality today, is we’re able to provide our customers benchmarking at how they’re performing at every stage of the origination process. So they know where to invest and where to partner with us to help realize that result of speed. And one thing that really plays out well in this is our goal on speed, helping our customers grow directly ties into our pricing model where when our customers grow MeridianLink grows.
Nicolaas Vlok: Yes, I agree. I’ll just add one other comment. In terms of organic growth, I said this in my prepared remarks as well, but sales and marketing grew 38% year-on-year. And that is a really key strategic investment for us. And so we €“ with volumes down in mortgage as an example, this is an excellent opportunity to what I call sell through it, right, and increase the installed base. And we continue to build out our sales leadership team. We are redefining our go-to-market motion. And there will be our bookings our pipeline continues to look strong and will get stronger over time because of this investment. So agree wholeheartedly on the R&D and the roadmap piece. And there’s also the go-to-market piece, which I think is critically important as well.
Unidentified Analyst: Thank you.
Operator: Your next question comes from the line of Parker Lane from Stifel. Please go ahead.