Cris Kennedy

Cris Kennedy of William Blair asked about American Express's journey with its new data analytics platform and the tools it will provide to drive greater card member engagement, particularly with the integration of AI and other advanced technologies.

Answer

CEO Steve Squeri discussed the company's third major data mart conversion, expressing excitement about leveraging large language models with Amex's data to create personalized offers, insights, and more effective cardholder targeting. He noted that the cloud-based platform allows for dynamic expansion and is already contributing to marketing cost reductions. He underscored the critical role of technology in driving value propositions and appropriate cardholder engagement.

Cris Kennedy asked about American Express's journey with its new data analytics platform and the tools it will provide to drive increased card member engagement, particularly with the integration of AI and other advanced technologies.

Answer

Steve Squeri, Chairman and CEO, highlighted the new data analytics platform as the third major data mart conversion in 10 years. He expressed excitement about leveraging large language models with American Express's data to create personalized card member offers, insights, and targeted treatments. He noted that the platform, built on the public cloud, is already showing benefits in marketing cost reduction and will dynamically expand to drive appropriate cardholder engagement.

Cris Kennedy from William Blair asked for an update on nCino's consumer business, specifically how bookings are tracking relative to initial plans and the current interest in consumer lending within the macro environment. He also inquired whether the components of the Rule of 40 target, such as revenue growth or margin, have evolved in the company's thinking about reaching that target.

Answer

CEO Sean Desmond reported continued momentum in the consumer business, including expansion with a top 100 bank and sustained interest in the credit union market. He noted that consumer credit quality remains generally sound, and banks are entering the cycle with strong capital positions, driving continued interest. Regarding the Rule of 40, Desmond reiterated that the target remains 40, with an expectation to be as aggressive as possible on the growth side while re-accelerating growth.

Cris Kennedy asked for an update on nCino's consumer business, specifically how bookings are tracking relative to initial plans. He also inquired if the components of the Rule of 40 target, such as revenue growth or margin, have evolved in nCino's thinking about reaching that target.

Answer

Sean Desmond, nCino's Chief Executive Officer, noted continued momentum in the consumer business, including expansion with a top 100 bank and interest in the credit union market, driven by generally sound consumer credit quality. He stated that the Rule of 40 target remains fixed, with the company committed to being as aggressive as possible on the growth side while re-accelerating bookings.

Cris Kennedy asked about the 500,000 digital wallet users, inquiring about engagement and retention trends.

Answer

Devin McGranahan (CEO) explained the digital wallet journey since Q3 2022, noting that current customer acquisition focuses on receive markets like Argentina, Brazil, Romania, and the U.S. He highlighted that the most engaged customers are those in receive markets who use the product as an alternative to receiving cash.

Cris Kennedy asked for more details on the 500,000 digital wallet users, specifically inquiring about engagement and retention trends.

Answer

CEO Devin McGranahan explained that the company is on a journey with its digital wallet, having launched the first in Q3 2022 and iterating since. He noted that the most engaged customers are in receive markets (e.g., Argentina, Brazil, Romania, U.S.) who use the wallet for inbound remittances and everyday expenses, serving as an alternative to cash receipt.