I got several positives out of the call:
- Pete made a point early in the call of saying that "our US Bank Customers, suggesting to me that something international may be in the works.
- He pointed out that the Visa deal was being undervalued by analysts, and that in fact it would facilitate the delivery of 85% of transactions electronically, while still maintaining a pay anyone capability. He also indicated that just the conversion of Austin volume and Chicago volume to the new platform will move them up to 55% electronic.
- He repeatedly mentiond his confidence in the going forward position of the company.
- He was obviously frustrated by his inability to announce the names of the two (in addition to AT&T) top ten billers that would be coming live, and be announced, in the next 90 days.
- He indicated that with all the mergers and acquisitions going on, of those involving CF clients, that CF is a big winner, suggesting that Nations/BOA and Wells/Norwest are continuing, at the least, their relationships. He also indicated that they want to "lead with an electronic banking product" coming out of the merger, which should provide some explosive growth.
- Senisgali indicated that of incremental revenue, 50% will go directly to the bottom line with genesis.
- The web based self-service customer service system will reduce support costs, and provide an improved service the banks will find critical...and which MSFDC will have difficulty delivering.
- New staff (100 added since end of last quarter) is primarily implementational/conversion oriented, and that billers are signing...and implementing faster than anticipated, which obviously will drive faster consumer signups/acceptance when the banks push their offerings.
- Lastly, Jim Douglas will be, I expect, looking for "mergers" and or "acquisitions" which I suspect could result in the sale/merger of the company. |
