Sean Blitchok: Yes. Take care.
Operator: Thank you. And your last question comes from the line of Parker Lane from Stifel. Please go ahead.
Matthew Kikkert: Hi. This is Matthew Kikkert for Parker. Thanks for taking my questions. You mentioned you are shifting the Go-to-Market team into more of a hunting mentality this year. How does the MeridianLink One platform fit into the strategy? And does it help accelerate the strategy at all?
Nicolaas Vlok: MeridianLink One is all centered around how we drive solutions for our customer base. And I think an effective hunting team is going out and understanding our customers’ goals, our challenges and then positioning the company’s solution to ultimately drive that outcome. So, MeridianLink One in the maturity models for the FIs that can drive from it on key aspects like digital maturity, decisioning, insights and other is central to having an effective Go-to-Market motion. I really view it as all part of the same story, right. The sales team is an arm of that story and all needs to come together with one message to the customer base.
Sean Blitchok: And if you look at some of the detail that we have announced in our script as well, the customer wins with four modules plus access, the cross-sell success of ML Mortgage into the customer base, the depository taking customer base. I think it’s really coming together well there.
Matthew Kikkert: That makes sense. And secondly, are there any ways that you are looking to incorporate AI into your tools more in 2024. What are you hearing from your customers in terms of AI demand from you and their budgets for it?
Nicolaas Vlok: Yes. So, I will start with the demand question. It’s AI within the financial services industry is really interesting in terms of there is a regulatory aspect to it, but there is also a consumer sentiment aspect to it. There is a perception in some consumer basis, at least in the researches we have done on how comfortable or not comfortable they are with using AI to make decisions on their behalf. So, those are some things we watch closely. Now, what we have done to-date is a lot of work with partners. We are leveraging ChatGPT type tools from a customer service perspective or a consumer service perspective, we have – but we have a number of partners that are using machine learning models for decisioning. And then what we have been doing internally from an R&D perspective is over the last few years, we have spent millions of dollars as part of our cloud design to bring all of our data into a single location.
And as we are evaluating our FIs needs and the consumers, what the consumers willing to bear, two areas that we are looking closely at. Are we leveraging an OpenAI type format to take our insights program to the next level. So, meaning we have a very unique offering that we can enable our customers to see how they are performing versus their peers on a large array of different key performance metrics, and we can use a language model to present a narrative back and where they should focus their efforts to have the optimal outcome. And then the other element I think is a core use of any AI tool is, how are we automating key aspects of the lending officer’s role for them to be more efficient. And candidly, over the last year, I have seen more and more rhetoric around IT investment, around efficiency, which perhaps wasn’t as true the years before that.
The key takeaway I would say is the hardest part for an organization like us to perform in that market is to bring all the data and clean it and put in a single place to then build models on top of.
Matthew Kikkert: Terrific. Thank you very much.
Operator: Thank you. There are no further questions at this time. Mr. Nicolaas Vlok, please proceed.
Nicolaas Vlok: Thank you for attending today’s call. As we close, I would like to express my gratitude to the team for their ongoing commitment to our customers, partners and each other. Great teams innovate well. They serve customers in a way that stands apart and they deliver better experiences day-in and day-out. That’s what we mean – that’s what we – that’s why we remain focused on and the industry continues to take note. In fact, I was pleased and humbled to say our team received the HousingWire Mortgage Tech 100 Award at the start of this year. We will continue to deliver award winning products and services to our customers and we are grateful for their trust and partnership. Thank you for being part of our success. Until next time, have a great day.
Operator: Thank you. Ladies and gentlemen, that does conclude our conference for today. Thank you all for participating. You may all disconnect.
