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    2:20AM Feb 20, 2025

    Speakers:

    Joshua Davies

    Keywords:

    FinTech forum

    e-commerce security

    revenue shortfall

    Visa consultancy

    spend per active card

    loyalty solutions

    card-linked offers

    digital experiences

    technology support

    marketing campaigns

    fraud monitoring

    client success managers

    partnership incentives

    user-centric personas

    action items.

    Darwin. All good on that, ladies,

    that's a true leader. I trust in You, faith in you. This is great. He's been like, he's like whispering here. It's a Serrano diversion act. He's whispering so the earpiece put the literally, are we ready? Yeah, are we ready? A big clap to our final group. Thank you again.

    Marhaba, everyone. Marhaba, dear partners. So we are really glad to be here following our brief chat at the airport, and we expect that the your FinTech forum was really productive, so we are here today. Take this occasion to delve deeper into the the enhancing of your your E commerce security, which is one of the

    stops we last met, yeah, my biggest problem is ignore what I said. My biggest problem is I'm shot by ten million and I need to make that shot for six months. How can visa help me fulfill the shot? Ignore what I said earlier.

    Sure when you say you're short by ten million it's in revenue. Ten million

    of revenue in six months or three of us get fired. That's the

    problem. So if that's a problem statement, this is also a visa problem. As your your partner, yeah, so we're here as your long term partnership, and your success, your win is our win. So there are several things that we can look at. Think about it absolutely. Yeah. So let's break down the problem, basically on where, why are you ten million short? And how can we

    so my portfolio is not spending enough, right? And our reward rates are also down. Those are the two main factors. But I would love to hear your thoughts of

    whatever CRM costs also just went

    to the roof, yeah. So only option for us at visa, we don't pay visa 10 million. That's the easiest way to lower costs. Or you tell us how we can get the extra 10 million of

    revenue? I Yes, and I totally understand, and let us if we can break them down, problem by problem, and obviously each one of those will need us to do deep dive sessions to really identify the root cause. And how can we work together to improve this? So if we, if we look up about the card issue, and you're not reaching the, what we call the spend per active card, it's not that expected level that you're looking for. We have a dedicated team of visa consultants, and they are actually can come in and help you analyze your your spend per active cards to who can put a short term plan through campaigns on how we can drive that spend higher. So let me just give you a brief idea on what, what is our visa consultancy team and and how can they help specifically on that point, and then we'll tackle on the loyalty. And so first of all, a few years back, Visa established this whole organization, which is the visa consultancy and analytics team, and we have gathered basically the best in class consultants from all the consultancy agency like Mackenzie and and all those consultancies to give, because we are the best in payments, or we perceive as we want to be your best partners in paying, and we wanted to have those consultants to help you as well. So when it comes to an issue, particularly like the spend on car, then your utilization. Our consultancy and analytics team can come and they can do full analysis and performance on what is your current spends. Where are your what are the spend segments, the markets, the spend type or spend categories, and then help put in short term plan, a long term plan on how to increase this to help you get and now we're looking at six months. So it's definitely where there is a short term plan factor here to help you get to how can you come into that 10 million obviously, not through the spent alone, but we can look also as well through the loyalty, loyalty part. And we have a lot of variety and loyalty solutions, either through earn and burn reward loyalty solutions, easy cash back solution. And I have something for you also that you like about the cost. We even have loyalty solutions that are merchant funded, so we call them card linked offers. You. Have to pay anything they are funded actually by the merchants, because the merchants see value in providing this loyalty, because it helps increase the spend at their side. So this is something that you know we can look into. You will not have to fund any loyal to yourself six

    months. If you come in, you will do some analysis. You look up, you set up in two months, then nobody leaves us with four months to deliver 10 million. Are you confident?

    Yeah, so ideally, and this is how we're trying to shift. I understand that you look at consultancy as that they take a long time putting strategies, fancy PowerPoint slides, but we understand the time resting. And this is not the first time our team does this. There is we already have the data, we already have the view, and we already have the experience. And the team have worked several time and have success stories to solve similar problems. So this is not a problem that will take two months to solve a new solution. We the solutioning part should be like agreeing on what are the next steps. This is something that we should do in the next four to six weeks. I

    have a great team of you know people in my team, and they have access to all data, and we can do all this analysis. So what will you tell me more than what I don't know about my portfolio? I

    can take this? Yeah, sure. So on what you see effectively, your your team can come up with, with the the way they see the markets, but how we can bring more value is, is the way that we see the world ecosystem. So this one will will enhance the view of your market, because for now, only what you see is your client, but we can help you understand the dynamic of the market and how we can help your client goes into this kind of of of behavior that have been helpful for other client that she was identifying. So we will, we have this, this exercise, this engagement with the the consulting teams, which will work with your teams to make sure that we take all the benefit from the visa worldwide view and bring you the best

    of this. You share data of different banks.

    No, no, absolutely no, absolutely no, security and confidentiality is is our core. Is our core so, but what we do is that we benchmark, we look at trends, and this is what we benefit. We bring it to you. We bring to you literally. So it's not sharing data, but it's analyzing your portfolio against what is happening, and bring you the best value of what we can another

    pain point that we were chatting around was the loss of our business into the fintechs

    currently. Yes, currently, and I have noticed and understand that the chairman interest in the FinTech world, we can work with you as visa, we have developed many, many, many program around FinTech, accompany them through the partnership with the bank, not as a threat, but mainly as partner to enhance your business, to develop your business, and to go quicker and to even transform Your business, from what I have just understood so it's rather a partnership, and what we do, it's really as as you, as our partner, preferred partner, will cater the the best in class FinTech for you to be able to drive this change and be partnering with them to implement new solution, new ways of having money, new have of making revenue. So it's not all the FinTech that we bring to you. We will really make our first assessment through our program that we have called visa accelerator, and we will bring to you the the correct the right fit net FinTech that can fit with with your expectation.

    Please go ahead. Can I ask you a question, why do you think you're losing to fintechs? What do you think is the main problem? From your point of view, they're also issuers. Yes, they're also issue. But do you think they've

    got the wallets, they've got many digital apps that they're taking all the volumes from us, yeah,

    so would this is, this is our view, is that maybe their their offering or their value proposition is more tech savvy, is more digital, first,

    customer based approach,

    target. More Gen Z user centric personas, where, again, it is a problem that not only you are facing, and there is a solution for it that we can start co creating those user centric personas for the spend, those highly advanced digital experiences, and not only that. So when we talk about digital I'm sure the first thing that will come to mind is that all the technology burden that you'll have to implement and you already must have, like limit resources, limitations, your own roadmap and backlog, that is not just for the card business, but for the overall bank. And one of the things that this is where we can help in is that we provide this full technology support even as part of our visa consultancy services that we have now full vertical called technology enablement. So we not just come to you with the with the solution or the idea, but we can come to you with the dedicated resources that can actually work to develop these solutions for you in time, in the six month time window, if we see that this is something that can help you, you know, so we can bridge the gap for the 10 million with with different things. It's not going to be one solution that's going to bring the 10 million

    come back to what you started, his point around 10 million in the next six months, and you said campaigns cash back. So do you guys offer any marketing help? And the holiday season is coming up, I would love to do a campaign around cross border. So what is the process? Does visa help in CO creating marketing campaigns,

    absolutely, absolutely but what we were saying is, first having this deep dive analysis. This can take briefly, four to six week, and through this, through this engagement, they will recommend some campaign, effective campaign, to do to drive the usage that can bring us the revenue that we are expecting other way as well. To see this revenue tracking that we want to put in place is to make sure that your your ecom, e commerce activity, is more secure than what we see currently. So can you have

    Yeah, so you mentioned about the cost for the VA VRM, no, but the he said it Hello. So this is, this is Visa's fraud monitoring tool that you're currently using to oversee fraud and manage fraud for your transactions. And I don't want us to just look at the cost, but I want us to look at the value, and if we can put it in very simple words and again, each of those topics, we can really do a deep dive on. And, you know, go into deeper levels.

    We're all running out of time right coming. Keep hearing deep dive, deep dive, Deep Dive. Let me give you a situation, yeah. Do you believe visa and your city have a long term partnership. Absolutely, absolutely you're committed to it. Yeah. Absolutely, for me, 10 million is important in the next six months. Absolutely, let's say, through your efforts, we get to 6 million. Can we visa, as a true partner, wave off 4 million of my issuing fees to help me meet my 10 million. I will really appreciate it in the long term.

    So it's not a matter about waiving the fees. So we already, if we look at it, it's the this is a long term partnership, and we already provide those incentives. And part of that is that we, we are interested to help you reach those 10 million because that comes in a lot of cash incentives, but a lot of those services that we talked about, the consultancy services, the technical implementation, you don't even have to pay for it with green dollars. You already have some of the existing incentives that can be allocated that to pay for those services. So and this is this feeds into, actually your ten million cap, because you do not have to finance those services in actual green dollars. You can utilize some of the funds then the incentives that visa is already offering. So to help you reach that

    on the cost piece, I had one question. You know, I was speaking to my colleague in another country where customer success managers, you have, it's a free service, but here I'm charged for it. Why does visa do that to our to your clients here?

    Yeah, so actually,

    and it's free in another region, but here you are taking money from us, and that's adding to my cost base.

    There is. There is a difference in we have different tiering or categories for our client success team. And you said

    we are the preferred partner, we are the highest, absolutely,

    long term partnership. We need to make sure that you have a dedicated client success manager, dedicated specifically to your account. So based on your sides, on these long term partnerships, we have a variety of operating models for client success teams, one of them for clients like yourself that needs full dedication from our side, dedicated resources. We have those chargeable client success managers, but because of the value that they do. They are fully dedicated to you to make sure that all your technical implementations projects are going through time to help you, even with understanding, analyzing, even

    voices. Why are they free in another region and not here? Because it's not, it's not about the other regions, about maybe

    shared pool of resources. So for a single client success manager, we are probably allocated across the board for 10 to 15 banks. Well, what you're getting is a dedicated resource, of course, to

    cater for you. I still don't buy that, and we're gonna

    Stop it there this.

    They really like this. Yes,

    I really like this.

    So just as a note, there's gonna be that, is it the account review, right? Mushag and mushag And who else? Ah, hello. So we've got, we've got in just, just a couple minutes. We've got them coming in to do the the demo account. What do they have? A five minute break, yeah, you know what? Because I've got just, well, if it's okay, you, I'll give them, because I'm supposed to have 15 minutes the end, but I can my part at the end actually only take like five minutes. So if we could give them about a five minute break, that was a huge thing. Go not a long break. Because how to put it, when you see mushag wander in, don't make mushag, wait, okay,

    we'll put your Okay, that was great. Don't forget to send me the recordings you.