Mike Lanzante

Mike Lanzante from Morgan Stanley inquired about trends in customer technology spending, particularly vendor consolidation to fund AI-related spend, and the push-and-pull from customers regarding Q2's agentic AI strategy and its potential tailwind for Innovation Studio.

Answer

CEO Matt Flake observed vendor consolidation occurring since 2022-2023, with financial institutions driving efficiencies to spend more on digital experiences, a trend he expects AI to further accelerate. He explained that customers, being conservative and compliance-focused, are asking Q2 for guidance on AI, and Q2's 'system of context' (data, transaction flows, user behavior) positions it well to capitalize on agentic AI opportunities.