IDN - Earnings call transcript Q2 2021

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Operator

Greetings, and welcome to the Intellicheck Q2 2021 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Gar Jackson, Investor Relations. ahead. go Please

Gar Jackson

Good today operator. Call. thank for you Thank the afternoon Intellicheck us for Earnings Second joining you, and Quarter XXXX

expressions encourage Before believe, Litigation made Certain in words will similar currently or identify read expectations and as the based as we within When Act the and meaning the call management, its future I Reform used few the statements XXXX. expect, about company of get to Private beliefs management, such Litigation XXXX of the minutes amended. of they Securities relate constitute are by take on to These forward-looking of management's as well call, the Act Securities statements events. in the as this statements forward-looking a statement. anticipate, conference company's available current meaning will, assumptions this statements within Reform information Private conference and forward-looking to forward-looking started, as

or otherwise. inherently disclaims any As the alter obligation subsequent such expressly and any changes, in resulting susceptible to whether company to or undertakes new they update and statements, changes and projection events its obligation or circumstances with from uncertainty no to forecast, forward-looking information, are

context company's use today's for release XXXX. this afternoon and Additional as Management for Please issued Commission. Safe August time are risk Securities X, the factors the filings Statements forward-looking and the term to of company's call is listed definition, made EBITDA today's time headings information of Exchange use press concerning Harbor contained the under with reconciliation the further from term. call. statements today, financial on of statements and in the adjusted refer to will in this

Executive who discuss with Bryan begin Officer Officer, White, QX Bill today's Chief will Intellicheck's the will financial We Chief Financial and results. Intellicheck's Lewis, then call

turn the And take our now call and Following we Bryan. Today's one limited to hour. remarks, institutional their to will I be analysts investors. from prepared questions will will call over

Bryan Lewis

you, and I everyone to welcome call. second the Gar XXXX earnings Thank quarter Intellicheck

it company by in productive the the the our new saw taken and we driven team, in platform inbound progress raising a and awareness the was out client press increasing many insights clients. quarter have whereby advancements the leads, As rounding of we have and increasing for you of the towards steps the providing achieved more release, size risk on-boarding. Contributing and to our reopening sales Intellicheck

our drive pre-pandemic in rise, the the are initiatives. for are last the of teller loss and the loss our #X processing to but during upon workstations financial We the spend headcount will delivered of In increase release. marketing to the volumes first pricing remarks, prices from I revamping model the addition, not they highlight the my $XXX,XXX renewals. prepared Same-store some I'll we Total for development addition and things for press still a these negative on are company to to financials of call adjusted in net a is primarily our touch key the they second hardware We shy on on million. for quarter quarter. but for of to of our were year-over-year. just That EBITDA and SaaS over a investment The a up SaaS discussed QX sales while order had revenue XX% $XX,XXX. $X.X $X.X increase increase of we due that improve, of revenues quarter million. over XX% in to services just teams was continued the growth levels. was half during

depending As the April I in we from April call, to XXXX retailer. on said were last on XX% XX% down the of

for an in our clients transaction and to transactions undercounting probably our digital XXX% full XX% past increase side months. of I each API overall is say with am over business pleased the physical includes each increase choose improvements us. quarter some quarter second they that This to of the a continues represent month. versus the down month volumes and for that For the both digital of of XX digital and XXXX our

store has a that X% credit jewelry. basis, on the digital hook company are conservative cards and client Financial the transactions cards and growth financial currently merchandise during major review Turing are of like for change or an provide of merchants So to our for. transactions. they These non-age services bank we're sell one services is base seeing all about continued fraud. #X extensive represent branded in clients Many small they on expensive added retailer the what the partnerships. quarter, regulated the single

to of of So our and the They we've is completed X begun each for a joint handheld to checkout or to perfect assisted customer both merchants the polo device the improvement work rollout as systems, commercial quickly new efficiently. chain implementing other company continuing is [ph] point worth XX,XXX integration Its retailers checkout POS way are bring #X home solutions sales economical net our Phase these of national effort services to system. Financial the is fraud self that introduce service nationwide us solution web a merchants. and #X initially and checkout. a a on and losses, over to on with stop our marketing

the work currently teller is this split addition scanners be may use to now transactions. and hardware also use in in-store and Installation their products that live stop improvement immediately, [indiscernible] June. We for passports We half of state in IDs quarter. expected services applications go They the authentication. integration scanners. the their two of QX. chain online are live for core you privacy will of new In our #X or of and They account is Financial applications. digital completed the process other integration to are they and ask for of new delivery and to to base looking the Outside mobile rollout anticipate company licenses teller credit has and rollout. channel half PII so #X they settings, IDs. Midwest They valid the app retailers underway services QX company that teller place or they can As in prevent cases are APIs validate home order their takeover we validate QX. so rollout mentioned, insurance a [indiscernible] system find with to order recall the we've both with second wanted core between that Financial anticipate to openings and line loan continue our they continuing into into yourself. to that workstation put to the for took the equally they driver's all our will early first new delivery of these fraud using new the two account of financial expected platform at in services the to institutions, completed they to our on our on QX

plan. We software applications deals to are several with the to providers enable also our interesting our execution use technology them pleased We of resellers. as signed of their element with strategic another inside

is quarter. apply have a help are reseller. servicing live is online the multiple first them software. or They to credit for client already expecting credit provider to their at ongoing of first customers identified near We for of take this in-store the origination end and loan providers. and software Development kiosks provide The

transaction It may the that While good either force extend certain resellers to we're shows through volumes plan of on not of of deliver. the the I'm channel partners. these reach making sales our

will As this believe we you been we pretty we've pace. continue can see, busy and

continuing touched this what on steps on Our optimism take earlier, I based trajectory. is critical the commitment key to are to our that

investment with the sales Our team more is another hiring in during in of pipeline. expand continue addition with quarter paying off to team and the person the the sales senior the we

have effectively of opportunities continue amount see, said to as feels before, train them. hire he as I As people we given we could will fast Bruce sales the

the a having Given have of keep very realistic leads seeing impact is the working and on increased an also sales growth what six-fold pipeline, of hiring is Bruce to that I our QX. qualified over up. Marketing from want number it I'm

new of our from the are X% to about the space, highly been of especially regulated quick age is as has an are age approximately significant the the price these show profitable, the as revenue. and five much. our leads model age for are Under thing well clear channel pricing of under rest SaaS was new average they that the are The lagged accounts as many Intellicheck While times some space clients earning potentially partners. we regulated awareness regulated model increasing nice and in that clients

If but the with it so per in acquisition. they and been cost we So low is say far a the of [indiscernible]. view our to commit only commit marketing even per do transactions [ph] transactions like new as cost, higher success. we another generally would our well contracts certainly a while advance Clients they type off, many lower through transaction lobe how and have believe as this of and I they a that by they The pay would run volume. of renewal I gear. received all these the at renewals second transactions to model an mentioned have and transaction. pricing These I lower price is new it as continue initiative set at a has the in been contract in do they client the higher year. element impressive cost And a idea we they important clients number year, a commit clients raise through of also their new the prepay continued this time. further in will

been again the have platform and our the which place renewals higher all believe far value our provides. So clients shows at rates certainty we

the fintechs. us to We KYC services markets tools This platform. capability the identity much of expand to continue larger financial and to the into provide to allows expand

companies, are the fintech more to who of functions the We easily quickly. have and to perform bundle KYC growing several they working products number help ties

to our they the with our so partners is that service certainty. best, improving services us services the be to to comes our plan our internal We them. provide knowing can it validation agnostic for with for want that ID clients are which think clients our technology most are different the they working bundle multiple that starting We when take tools

being feel things build said companies that really considered than XX% was a could with the told we are best with, followed our people do. Through bring that his future. to are for said we context that He We Bill are him I'm strategy the competitors, firm markets. first more partner as our to financials our with and that for I market that a given was We up detail. to OCI bank investment I speaking investment to understand including coin. as channel might analyst in discussions over as that, clients we [indiscernible]. affected on well. to in and continue it we step believe the with, with certainty me. when do speaking more With different will a to help and bring expanding with I the that turn that and client something to sales recently We consults different research in put he but transaction the their to for become us flip actually opposed it well entirely discuss often excited certainty Intellicheck's platform marketing client

Bill White

June prior as June comparable some compared shareholders, increased day compared I'd our XX, $X,XXX,XXX XX, year Quarter-over-quarter the XX% to and period. for $X,XXX,XXX ended to to guests, press discuss revenue XXXX the $X,XXX,XXX Bryan was I in to release quarter the prior begin you, versus Thank in to will financial June a quarter profit ended XX.X% grew ending for in XXXX. was information a XXXX quarter with that revenue and second for the ended June SaaS XXXX. quarter contained Total like our $X,XXX,XXX to second second results. good our listeners. quarter percentage year. revenue of XXX% the XX.X% Gross the the for XX, of

margins. During our that their are a normally software branches at continuing to we bank is rollout to sold big quarter to scanning sold equipment the lower which

the quarter per pro the in XX.X% the was months XX, XXXX. for to loss $X.XX $X,XXX,XXX $X,XXX,XXX a hardware G&A, of for profit ended of was and XXXX for EBITDA was same quarter The by of was to Adjusted higher and ended forma versus quarter XXXX of year the Interest June XXXX increased The XX% the three XXXX of due ended to a percentage net Operating expanded to increased as $XXX,XXX net June of and prior diluted share on the the ended company and on June $XX,XXX XX, of EBITDA expenses, like negative income sales or a and June net both other quarter $XXX,XXX quarter XX.X% to for revenue compensation loss in $X,XXX,XXX XXXX. research cost, per XX, for and headcount in were compared XXXX focus loss the $XXX,XXX XX, ended ended increase as a company's XXXX. June the June net the compared to negligible XX, development share and periods for XXXX. development versus the ended a XX, XXXX XX, June compared now $X.XX liquidity negative period. June Excluding diluted basis, the I'd resources. a quarter. capital in gross The loss quarter expenses efforts. selling, stock-based for XX, primarily research quarter consist for posted and

company had minus stockholders of cash current of assets XXXX As of as million, total working June current net $XX.X assets million. liabilities $XX.X of $XX.X and equity XX, defined of million, the $XX.X million, capital

we the the June currently used During from used ended ended million $X compared period activities collateral XXXX June compared to June six-month has XX, that XXXX. is $XX.X working the next company well months cash that compared million used of generated cash in activities period $XXX,XXX no investing Net ended June as Citibank $X,XXX,XXX six-month period for the anticipated facility. was XXXX, credit XX, period our XXXX operating XX net capital XX, XXXX. sufficient with six-month six provided $XXX,XXX amounts available months. and during in to secured cash to to same ended least the for the capital XX, for in expected There $XXX,XXX six compared company cash activities our net anticipate facility this in was operations XXXX of cash, and $XX,XXX cash requirements for outstanding for months to will cash are the period six-month be Net by in XX, same We for million meet for $X.X the from expenditure as at June financing net of $XX.X The the used of million the accounts. XXXX. period a XXXX revolving

take over questions. As of XXXX the December $XX I'll operator had to carryforwards million. XX, net the Operator? operating of company loss the turn to call now your

Operator

state Mike Your with first [Operator Instructions] Grondahl from question. question comes Please Northland Securities. your

Mike Grondahl

existing especially and Hey that is the the at Bill, just congrats new down flavor of between there price to growth increases, on quarter. you XX% SaaS give drivers? any year-over-year, a And Bryan the and can kind accounts, us way break least accounts roughly maybe of

Bryan Lewis

at up was of I'd year. and that I'm because but revenues. majority main clients, of our what contracts as going now from of it the our percentage to existing to big, guess The and it a restricted now. space, small going the small renewal new coming portion but are end is usage new are and the in be I is for say #X with a larger portion, a in still adding ones the two significant at say a #X age

off to the specific most that going going of world and top it, of the but be producing clients, good we head have brought I'm on weren’t new I at the it that a breakdown normal over my the that chunk So then is that. of the pandemic the are to the level don’t had firms rest the of course of really of say

Mike Grondahl

like what in XQ they did Got new And kind implementations, backlog it, of does the bounce and look got implementations? for it. back

Bryan Lewis

numbers lift what just and want see we up you to… those Bill, Sure

Bill White

just about… were taking we And

Bryan Lewis

right the Yes, before call.

Bill White

and were XX July about XX backlog. of there is end the through in completed implementations Yes,

Mike Grondahl

And you Bill, expect XX implemented those get year this it. still? to would Got

Bill White

We're hoping.

the holdup fast can IT moving to Some we of we're on would Mike in but side an doing and how direction. that implemented. from they it be can We're the perspective, customers get everything move

Bryan Lewis

in things expanded generally world doing QX They things. then other in of get good anything particularly got don’t for is, much then the retailers about to get to other point-of-sale But and But the and clients selling restrictions their touching them sort own also system, are banks with mid-October. tend during thing will and and terms don’t they of workstations holiday we're of and again, their in some retailers the retailers past out and same it of they go a to season. point-of-sale that, lockdown sort touching have the their fears or Right so its, teller and to like they've things. the system

Mike Grondahl

Thanks nice hey, Well see again. the guys. SaaS to great. it, Got growth

Bryan Lewis

you. Thank

Bill White

Mike. Thanks

Operator

Rhee Van ahead. Your next is from Jeff Craig-Hallum. go with question Please

Jeff Van Rhee

taking for me. from thanks Great, guys, a couple just questions my

pipeline or little prepared and think script, question clear, I the that leads pipeline a comment exactly just how are little missed said that pipeline, of a I the overall the or more you the about of leads you might is it maybe just the commenting then pipeline makeup sort on be the Xx On And on have talk bit was value in the you quantity while here? up of leads? are the morphing to was of

Bryan Lewis

so key because we the the high. are just and to are the coming in, have which coming it find that dramatically as transaction we very overall age be majority sales restricted clear that pretty from so of pricing was product wasn’t, Yes, profitable them costs very, of and if leads increased rolls, business

I'm is potential like cost a of clients large did I it's in and finding more quick it and seeing and We also over past us lot expensive. in turns happy and do they what we're resellers because sales So, that business, couldn’t. the to

talk, loan things. and interesting age either those verification product prospects now, in or their our we're talking KYC stuff types of and to very to a origination for now put for is So there stiff right to

but some sales revenue, marketing lower good predominantly, and ones, and large so working. the quick So, really is then

Jeff Van Rhee

on referenced what's you color Bruce good Yes, think front things since you on his are the sales been in and the addition And little in you've additions? just the headcount just I great. where front, sales the and broadening leadership of out, maybe then but you arrival, it but year minute structure? spend sales end one had terms with a the Bruce, maybe org, about of for obviously and more a the in goals changing specifically quarter,

Bryan Lewis

I XX think got organization, have to the people He Bruce things think of I CRN to identity and of proper changed. training table. a of the people. doing sales up so that great Yes, is in number lot knowledge We've there brought a a job the

of One made motivated change other a They getting and compensated team. know to the style hire big great management think compensation at the spot, probably they have, to we got -- Bruce's hire is is it. to they us we people, is And it it for anywhere. pandemic now from anywhere. we're be talent the where for is, plan Long Island super we bring difficult things can in very about were easy a the the but given that can a if training revenue them well with margin expect I

a team out hungry competitive we good really leadership. well really which, think So is sales good got there

Jeff Van Rhee

if to a us partnerships want revenue in front, partnerships talked of or and percent new established one one And seeing me a as there some sense you these about goals any in on give magnitude going you've are distribution I are represent avenues of last of down, the from what there? to the or just think you partnerships what of the I you terms could, of

Bryan Lewis

it that think a represent significant of could revenue. portion I Well

and are a them our we at the look should Intel same basically a of Inside and competition, time. be doing You OCR lot can of lot

and we're but a folks kids. spent channels never tools mentioned nobody be lot at being products those anchors it's had have Gartner, and I we known. likes fact somebody out way we to [ph] there authentication we're get we're And of and soon a coin other that the than them. they to us. research certainty about IT we and have begin talking a some expand Javelin can way of more put wondering sales things, the better time and take that the now get into as to that built that and we're They trade and in of heard getting by a different ever out lot of talk force think of they know We why the, as a talk flip to us, talking because look about to

So lights easy consumer, how and interested given are have with you a how we just to we rather to These the for make photo are resellers because work. accurate take it. shiny it much end don’t in seem

carefully safeguard, I going how those targets and they team become to revenue. want on goals, them they we could portion particular on Bruce's well hard monitored resellers are a but all it think and have So going do significant after be we're reaching very of

think if know, You in about because it are resellers. the you banks a flap,

So selling yes, to retailers. the ones because really are they

how we're know expand need to. it resellers talking we we So the them works, just to that

Jeff Van Rhee

definitely worked. on on the think about has you one last just about updates just I Yes, one the think talked growth, XX had expense any expense there XX, to on model, to growth? how yes, it Then

Bill White

the taking think quarter if a probably end $X Yes, outpacing, a to million we're XX of through and more we're XX $X.X modeling million I year, out was OpEx I think the is obviously it accurate. to

Jeff Van Rhee

Thanks so enough. much fair Okay, guys.

Bryan Lewis

you. Thank

Operator

Your your next state [indiscernible]. question from Scott with question. Buck Please is

Scott Buck

guys. good Hey, afternoon

is maybe On of those some Bryan the SaaS much XX.X, gross ago? margin that higher how versus in you pricing quarter guys a obviously just the implemented of on versus year the that have volumes changes at

Bryan Lewis

the majority the would volumes. be I right now think

Scott Buck

start side, kind folks them under the those meaningful sales ramp and of hires okay, a their made for that's contribution? typical up on with what's of period to to really I'm And new make Volumes, helpful. get then curious, some you've the the feet

Bryan Lewis

to closed our take little skill had, good sales new a that really months three a The they some smaller and already right maybe deals think going of it, over is bit time get of have fully time. I not for particular more of you're four a sales a luck understand to then of little I of say fit would bigger the some if deals. type person to people seeing bit productivity We've bit out and person little sale. not are

team so think I that are we're pretty that's So to spend anticipated. a all say much with each to than succeed I coming all are would each, giving so bringing working of they knows really tight really, up each far up But it's that other a help so lot kind really they the what at. is lot looking they of thing speed, when that a They quicker they each succeed, main speed I time other. the

Scott Buck

a color. go could that try Okay, you me, out acquire you good doing the makes I investment R&D side. to on to rather little there mean be yourself? bit last talked it technology anything from And and the that's build inorganically, guys Is increasing about sense one than

Bryan Lewis

breed the other service plug pick of authentication one build can into services that and in best service. making to want, of of so fan and and We not side the then us wheel, to of what a on is, for we other and to I'm of you the they easier want plug end for maybe part of our easier it lot but back it we're look bundle their, lot will, if so it's which people providers sort their things do. in of us they that providers clients of reinventing a the we’re with mind for play play us doing redoing

don’t beginning that was So project like headcount outsource using for it's to of really when something where used going an that off. middle we be end, a that, just is looks that it's a and with better lot a project so the certainly we're one that retouring it done have and

it, them being a it. to something for we’re the so through that's get then way queue. we are many whole smart and selling that development okay, long time, can recognition we again, that facial need we I've stock well back everything the about whole then at go if of And there we in better the and It's how so or how we it's pretty that and So it. first said same do buy partnerships, to do it's look do and this

Scott Buck

sense makes the time, I guys, you. thank Great, appreciate

Bryan Lewis

Thank you.

comes question Davidson. Rudy question. Kessinger Please your next D.A. with state from Your

Rudy Kessinger

restricted great, to five-fold thanks age sort you increase, pricing taking back software the go think my had I you guys, I Hey said of model, to think a had I said for pricing, questions. new was want me end of correct the with financial there, said one quarter, I'm and you one think other the wrong with coming year. is but if #X, I I #X services up respect them to of think customer this X, the

Just can around with us kind you help putting of seen increases price the expected a band two? those

Bryan Lewis

at sign significant two down mean, look to so that that begun they some I can't deal are a and I would multiyear year it. will I really #X tell I legal have not of amount going deal, transactions a way prepaying the year to prepared just that. you I is we're But on minor and now #X, guaranteeing say full year. everything is mix on with a and

up. are So go will their they and also probably that values then anticipating

whole of commit still price we're that model that's and getting increases. So prepay

vary my board So, thought wouldn’t deals the of started again been they older and at going it. the and and I we've older to and opinion rates they time across signing increasing were time it so are value where of chalk contracts these the getting given we the for over were much in some less even

real we it pricing I'd are to say close what we've So is. signed contract the later more market the

much probably going older it's where So to we're and significant a see contracts increases pricing. in

Rudy Kessinger

to say what's that's, they aren’t about you to you and had if signed XX then XX typical have Got how I'm to contract date? curious NDA [indiscernible] from signed through on be now But duration may the into then are had through. you go signed signed of it NDAs many NDAs of signing they signing and and you turned last quarter the many April, quarter the those how contracts and share all actually this talked those then you end able

Bryan Lewis

for -- working in might timing negotiation doing were out, don't that can a no to some issues ones not of now, the we're be that that I about, you single of some local one talked those connect them of some some lot when to I of it's get maybe are has examples. development There that said with not resellers a contract say around I'd were when them. of the know we

I quarter we many still doing or probably are them this how And negotiations. active them? saw because you closed busy, do for you idea in of busy All in think contract have I Bill are of know

Bill White

we signed Bryan. XX actually in Yes, alone July

Bryan Lewis

Yes.

Rudy Kessinger

aspects, or with as their partner changing past you in got progress then seen we these lastly, two you competitor be either changes of then on have you as making the more seeing just and trying and any they the maybe would they'll you curious traditionally competitors, behavior? or it there. it. some doing maybe with And potentially sounds one stance to of from of to how guess, things? like in people I awareness more them maybe them the who partners awareness Well, I'm certainly early any guys change a in have front being or decent open companies think than are they're saw, of

Bryan Lewis

to the be different we Okay, really we it could do different partner. to haven’t end hard a about become consider very, their figure is we manner out because we completely so clients, just it's them competition. something competitive, that's that seen beneficial understand it's more we're They just the to that say how go very competitors. something one different it's trying do do We real, such know in all to that and again, anything person but time at to so

Rudy Kessinger

it very me, from helpful. thanks it, All guys. right, That's that's got

Bill White

Thank you.

Bryan Lewis

Thanks Rudy.

Operator

next Management. state with Clear comes questions. Roger Please your question from Harbor Liddell Your Asset

Roger Liddell

little to ceiling Bill, thank Thank to texture afternoon, good and of Bryan little stuff? maybe function and alcohol, speaking ready seeing you, I is acceleration conventional you get the sustainability the bit are here operator. products, And wanted a cannabis our blow and if restricted right the really so, report, on great hands of the a you. age of on hold it's or tobacco are the that or through a we

Bryan Lewis

right alcohol, got already. now majority the business seen it pretty a We've of alcohol business, say so we've I'd cannabis certainly good is delivery.

to think certainly the but we're resellers we're go is about of providers media. cannabis partners systems because that about talking got are laws way people cannabis some better be to and of into cannabis the to interesting that social seeing advertizing and you how for I us some you've inventory the there's for stores, and get careful point-of-sale now on to

has it's to and the need easier traditional far amounts So target by age tobacco of regulated largest and us for alcohol the in much space. tobacco been the

Roger Liddell

way? any in significant thing same the Is

Bryan Lewis

lot in of that really for a is is was in there a but was there it, space. certainly when lot I'm in sure has but that enforcement quite a much. pre-COVID the press it happening about much died the in of so It so enforcement there there while down not area, alcohol

go them first be asks the they'll of law client people are they sales having One is some a if what owner our certainly some going they keeping use things go put probably to kids because and thing And that our bar do we are warning out. of enforcement know they starts you then give a product, of best that our them products, many in to give and out in actively if agencies that is checking warning, our using? places they because some so the enforcement, are like enforcement law

them almost incentive to So, it. it's an like for do

certainly it's than lot a think So alcohol combination else. there, think I enforcement a of I more gets of factors but anything

Roger Liddell

right. all Okay,

Bill. clarification from little Just a

run you it, implementation that a saw mentioned be You what's indicator? in or alone, a is spike the, this XX rate could July

Bill White

NDAs were Roger. Those

Roger Liddell

Yes, executed fully one, okay, but tell okay. me? it's for a from one think rates almost NDA I Conversion Oh, NDAs.

Bill White

that… say I'd

Bryan Lewis

go I'm Bill. Okay, ahead sorry,

Bill White

conversation we've going just had Bryan, Roger. we? we a high say we to rate was said have just that is. know what don’t I conversion of -- the I percentage Oh, never rate publicly

Bryan Lewis

maybe is this of any I decided wasn’t the my work can't head, talking the mean thing, us. my can of a start it. year, there But top I top about just it fit, have of the No, NDA couple they off I we've there I can't any where off tracking that so but said recall who we far for doesn’t signed second and the said a this is head already no,

those technical They you, some signed have we now types of and in to discussions. connect Some how say okay things. are do

pleased it I'm with So for sure.

Roger Liddell

I important era? IDN's banks of Final give one way and to fraud eat then if practices incentives, what question fraud it's old about texture, continuing fraud where other you policies us will institutions sharing we I some and financial on losses fraud other also? And install better, you think the can service proportionally for like being is, on because losses the the the understand Aren’t hope the it's the in and or of side suite, larger bank the amount working losses. of and challenge practices holder this

Bryan Lewis

for most bank is model still But ups look the there other is the traditional the split account that oftentimes is fraud. say where I'd kind like on it staying Yes, is eats that. that it things one part or of the maybe

to really other is, happy are them get a know lot they retail are with none because to of too the the of very So thing And want even the to help they it incentive that has to product. more credit eat going then process and told card retailers times do the often about speeds it's shop they four and more end a times the all got it store cards, with again that the user other points where reward you stuff. in multiple because seamless that up, a you've us to it,

every onboard. tell of have to year targets to they So in the the want for of they some number card that they credit retailers, us talking

process. So our they the speed and like of simplicity

are number the store, branded it's the and loss. smaller but they credit #X them retails, one, the card more again, the eats instant out that's number retailer Now and they'll let in [indiscernible] get why

some of up, us oftentimes two, up with working them don’t be want that to fraud of One, retailer. they all of happen. to that a you they they because year, couple in will adds to started it rollouts the those snap for the introducing clients things the knew and and of us part going bank Now because slowly couple kind are of stop

to So value you is quickly. of not they It I pay add to lot is them but solution. for think to, happy very up there can are sell so high our a

say, on they taken be from give account of we goes going them because that the credit an profitable third incentive, program. #X. them Because banks better color, though away. also mean other retail, know fraud Right? banks other a to that the much give away this a they'll loss because number the certainly in is point #X knows eat I card They've then the terms programs I So even number more

calls with number they we've the easy what and about So taking implement it is to do, to on how sales them been #X are that gets going and so client.

fraud programs. that So the realizing are could a gain they I think use prevention sales tool more to guys some as of smarter

Roger Liddell

extremely helpful, Okay, thank you.

Bryan Lewis

Yes.

Operator

the have Mr. the for and we and like would gentlemen, Bryan end back turn closing the Ladies now to of I reached session Lewis remarks. question-and-answer to call

Bryan Lewis

Hi, for thank so excited to the quarter. I call. to just the I talk about everybody want attending was

look QX As all I future about excited said earnings the I'm very call to speaking you again. and forward and I to the

So evening. thank you good and have a

Operator

for you Thank conference. our participation. your conclude does That

disconnect. may now You

Intellicheck (IDN) 4 Aug 212021 Q2 Earnings call transcript