Modernizing Payment Investigations with AI-Powered Workflows

1 "Jason Masciarelli" (2683188480)
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Welcome everybody. I'm Jason Masciarelli and I'll be your host today for our webinar for launchpad. We got a bunch of folks hopping in joining us and so we will jump into it and get started and obviously we'll post this to our website.

2 "Jason Masciarelli" (2683188480)
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Right and to LinkedIn for the recording. But with that, I will jump into kind of our 1st news announcement, which is we've got an upcoming event on the 26th, which is the next community call at 11:00 A.M. eastern. Make sure you follow us on LinkedIn that launchpad.io for upcoming events and so on. So.

3 "Jason Masciarelli" (2683188480)
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You can see the schedule and register for all of our upcoming events. So today we're talking about modernizing payment investigations with AI powered workflows. So I'm excited to be here with Andy Elliott from their partner that's been collaborating with us for a while on Launchpad and been an early, you know, kind of adopter.

4 "Jason Masciarelli" (2683188480)
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Of Launchpad embracing it and building and they've got a great product that they've built out, so we're gonna talk about that and dive into their story today, which is exciting. So again, you've got the three of us today, so you've got Andy Elliott, head of product strategy at Advances. I'm also joined by Tim Miranda, fellow solutions architect, and, you know, leader within the Launchpad provider success team, and then myself, Jason I lead go to market for Launchpad and pega ventures.

5 "Jason Masciarelli" (2683188480)
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Funding companies that are building on launchpad. And so we will get into it. So real quick for today's agenda, we're gonna just set the stage a little bit so you all understand a little bit about the world of payments, investigation software, kind of framing up the challenge, and.

6 "Jason Masciarelli" (2683188480)
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Kind of what is going after. I'm gonna talk a bit about Advances and the revolution of tracked EI, the product that they've built. I'm gonna go through a live demo into the solution, how they built it, why it's interesting, why it's kind of a next gen product to solve this particular need in the market.

7 "Jason Masciarelli" (2683188480)
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Then we'll share some perspectives Tim and I, around, you know, how they have leveraged launchpad in some unique ways, and then we'll jump into questions and and wrap things up. So as we're going through today, feel free to you know drop questions into the, into the chat. We'll take those things and collect them to.

8 "Jason Masciarelli" (2683188480)
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And and then we'll address those questions as we go into the closing. So with that, I will move it over to you, Andy.

9 "Andy Elliott" (2674206208)
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Thanks very much Jason. Good morning, good afternoon, everybody. And so some of you probably haven't heard of so let me just take a couple of minutes to introduce us as a company. So we've been around for about ten or eleven years founded in 2015. We started our life as a technology services company.

10 "Andy Elliott" (2674206208)
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That's really been our focus for the last ten years. We grew the business from humble beginnings with just three people including our founder up to the 800 or so we have now globally spread around the world in eight locations covering EMEA and North America, and APAC as well. And we're very proud of some of the achievements we've achieved along the way. We are a member of Pega's partner ecosystem.

11 "Andy Elliott" (2674206208)
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We are what's called a global elite partner which is the top tier of partnerships. We've won a number of awards for our implementations over the years. Last year we actually received an award in India Andca, which is where our offshore, offshore sites are as well as one of the great companies to work for, which we're, we're very proud of.

12 "Andy Elliott" (2674206208)
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And as we've been through our growth as a company, we've obviously sought capital investment along the way and most recently we we we raised some money through we funder and we're proud to be a member of the 1 million club, which I think shows that the trust and faith the investor community has in us as a company as well. Now, as we've been through the last.

13 "Andy Elliott" (2674206208)
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Ten years as a services provider. We ended up focusing on a couple of very specific domain areas within financial services in and around payments in particular. And given the fact we ended up implementing the same kind of solution over and over again, we ended up with with a lot of good industry experience in that particular domain area.

14 "Andy Elliott" (2674206208)
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Coupled with what I'm gonna talk about in a minute, which is some industry drivers, I think driving some refocus by the banks around this particular niche area of payment investigation. We decided last year that we wanted to develop a, a product, a SaaS product that would target this very specific solution. So we, we are in.

15 "Andy Elliott" (2674206208)
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Process of transitioning from being a services only company to a services and a product company. Next slide please Jason. So many of you probably are not that familiar with the concept of cross border payments. So before I jump into our product, which is called tracEI, let me just give you a little bit of a background on cross border payments, and really I'm talking about cross border payments in the commercial sense. This is less about.

16 "Andy Elliott" (2674206208)
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You know me paying Jason or a person paying a person. This is commercial business and in my example here, the top of the slide we have a company in the United States that's bought some goods or services from a company in the UK. Subsequently that company in the UK has sent an invoice to the US company and now that now.

17 "Andy Elliott" (2674206208)
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That company in the US needs to pay that invoice. Now they will ask their bank to make that payment on their behalf. And typically when you're sending money overseas depending upon the country and the currency that's involved, the payment will go through multiple pairs of hands. It goes through a number of intermediary banks sometimes called correspondent banks.

18 "Andy Elliott" (2674206208)
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And all of these banks are linked together on a network, a very secure private network called swift. Swift's been in the news recently and you've probably heard of it, but it's very much the backbone of internet, international commerce. It's the way that money and transactions flow between different types of banks.

19 "Andy Elliott" (2674206208)
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Now, again, looking at that the top of that chart, each of those boxes and each of the lines between the boxes represents a potential break point where something could go wrong. And while banks have done a very good job of automating their payments, 90 % plus straight through processing in most cases.

20 "Andy Elliott" (2674206208)
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Now when it comes to investigations, it's, it's not the same story. So about 4 % of cross order payments end up stopping or resulting in an investigation of some shape or form. It could be that the beneficiary didn't get their money. It could be that the admitter made the payment by mistake and they want to get it back.

21 "Andy Elliott" (2674206208)
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Well, there's a host of other reasons as well why it might break down and when there is one of these investigations, it's very complex and very expensive for the bank to fix. So while payments are processed in minutes, investigations can take three to five days sometimes and it's, it's many hours of work for a person to.

22 "Andy Elliott" (2674206208)
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To manually research that transaction to send a message to another bank to ask what went on, wait for a response to come back. And so it's not uncommon for an investigation to take to cost a bank 50 to $75 per item to investigate. And you know which is a significant cost of the bank. And imagine the customer service aspect of this as well. You know most customers are not that happy when they're told they gotta wait five days for an answer. So there's very, there's very much an opportunity I think around investigations to provide.

23 "Andy Elliott" (2674206208)
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A level of automation that isn't there today. Next slide please. So now you know a little bit about cross border payments. Let's talk a little bit about why we as a company decided to invest in an investigation system and why we decided that Launchpad was the right platform for that.

24 "Andy Elliott" (2674206208)
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So let me start on the left hand side of this chart. So over the last couple of years, the banking community have got together and decided that they, that they want to modernize payment investigations. I'm gonna age myself a bit here, but when I started my career, my 1st real job was processing payment investigation for a bank in London.

25 "Andy Elliott" (2674206208)
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And I have to tell you that the way I handled those investigations 40 years ago is exactly the same way that a bank handles those investigations today. Nothing's changed in 40 years. But the banks recognize that that there is a need to modernize, there is a need to improve the efficiency of investigations. So a combination of a set of new messaging standards which is called ISO 2002 two.

26 "Andy Elliott" (2674206208)
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Coupled with a new service hosted by swift, called Swift Case manager, is introducing a a new mandated chain that's been enforced on the industry that will go live over the next two years the the latest by which banks must be live is 2027.

27 "Andy Elliott" (2674206208)
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And there's 11000 banks connected to swift that therefore need to modernize and do something to be compliant with the new set of standards. So there's a there's a very compelling reason I think why, you know, why we saw we should invest in this product to service some subset of those 11000 banks now.

28 "Jason Masciarelli" (2683188480)
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I can imagine there's a lot of fear and kind of stress within those organizations to comply quickly, isn't there?

29 "Andy Elliott" (2674206208)
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Very much so. I mean, they've got a couple of options really. They can either build something themselves and the complexity and the time required to do that is is significant, and it's not a one time exercise either because these standards evolve every year. So banks would not have to would have to do this every year to ensure ongoing compliance. So they would rather in most cases buy a system or subscribe to a SaaS product, which is what we're we're producing here in order to overcome that, that headache.

30 "Jason Masciarelli" (2683188480)
00:09:52.155 --> 00:10:01.915
And so you've quickly identified that need and essentially were able to come to a market quickly with a product to address it in time for them to help address this.

31 "Andy Elliott" (2674206208)
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Yeah, yeah, we we we've been at it now for about six months. We're about to launch the product. We'll, we'll launch all fingers crossed in the next few weeks and we'll be ready to, to come to market. But the.

32 "Andy Elliott" (2674206208)
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You know that we are able to go that rapidly largely in thanks to the launchpad platform. As I think about an investigation system at what is it at heart? It's a workflow automation system and a case management system. You know, you need to be able to automate as much as the tasks as you possibly can calling interfaces and APIs to retrieve data, analyzing.

33 "Andy Elliott" (2674206208)
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Information to to drive the next step. And then at some point there's probably a an action that a user needs to take. So, you know, having the concept of a case where there's an audit trail that logs and tracks all of the actions taken by the system and by the user.

34 "Andy Elliott" (2674206208)
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Being able to have attachments to that case where work is moved from queue to Q to Q these are all native features of Launchpad that if we if we were to have decided to build the product from scratch on our own, we would have to build all of those things that just come out of the box with launchpads. So, you know, workload automation powerful integration capabilities and case management capabilities was the the primary reasons we chose the launchpad platform.

35 "Jason Masciarelli" (2683188480)
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Awesome. Awesome. And sounds like it was able to allow you folks, you and your team to basically focus really on the unique IP and your understanding of, you know, deep knowledge of this problem and solution as opposed to worrying about kind of all the foundational stuff that Launchpad's already taken care of. So, are you gonna show us the, the product and and take us through it?

36 "Andy Elliott" (2674206208)
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Certainly am yes, so if I take over the screen share here Jason. Yeah.

37 "Tim Miranda" (1526684416)
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And as you mentioned also, you need something a platform where you can kind of change it as you go, right? So things are changing every year, the regulations are changing. So you can't just build this product once and then have a hard maintenance thing so Launchpad lets you also really kind of enhance it and change the workflows very easily too, so.

38 "Andy Elliott" (2674206208)
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It does, so we have a, we have a compliance activity on our side that the customer doesn't have to worry about that we take care of that every year, but it's a fairly minor effort and we will roll out those changes and as part of the customer subscription, they will get access to those compliance updates every year. Nice.

39 "Andy Elliott" (2674206208)
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Alright, so I'm logged in as a manager into launchpad here into our product called tracEI, and let me just give you a sense of the navigation here 1st. So I'm, this is my homepage, I've logged in as a manager I've got a few charts here and I'll drill into some of these in a little while.

40 "Andy Elliott" (2674206208)
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My second navigation over here is access to my queues. So as a, as a typical user, you have access to work to perform and that work is presented on either my individual, my personal work list or a team queue that I'm a member of, and I can go help myself to one of these.

41 "Andy Elliott" (2674206208)
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Works pieces of work to to work on. And there's different types of cases as well. Mostly we're gonna focus on this concept of investigation, but there's incoming messages that we need to worry about as well. So 2nd tab here is, is, is all about my work and and processing work. We've got access to some reports which we'll come back to later, and then my last option here is the ability to, to search for for cases.

42 "Andy Elliott" (2674206208)
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And I can search for a message or an investigation and correspondence as well, and I'm gonna, I'm gonna take a look at this particular investigation case here. So let me just show you an email.

43 "Andy Elliott" (2674206208)
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That I sent into Launchpad a little while ago to start this process. So this this make the lead demo scenario that we're gonna go through here, I as a customer of this of the of the bank, I sent the bank an email here to say I want to cancel my payment. I made this payment a little while ago. It was paid in error, can you help me get this money?

44 "Andy Elliott" (2674206208)
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Back please. So this we had in launchpad, we have a listener listening for incoming emails. We received this email in, and then we've we've gone ahead and subjected subjected it to an automated process. And since a lot of the process is actually highly automated, I can't show it in the demo. So I'm gonna walk you through this workflow diagram and then I'll show you in the system what actually happened. So behind the scenes, we received that email message, we use an NLP process, so we use an AI.

45 "Andy Elliott" (2674206208)
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To read the the text of the message or infer what the customer is asking for. We found the dates and the amounts and the references. We, we found some craziology that identified the purpose of the investigation which was a cancellation request.

46 "Andy Elliott" (2674206208)
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We've done some searches to see whether this is a reply to an existing investigation or whether it's a new investigation. We've searched, we've called an API to search for the underlying payment. We want to find out which payment this particular investigation refers to.

47 "Andy Elliott" (2674206208)
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We've gone ahead and created an investigation case. We linked the transaction that we found to the case. We've called some more interfaces in the background. These are some swift interfaces to gather some information about the the customer and and the other parties on the transaction. And then we decided who best.

48 "Andy Elliott" (2674206208)
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To assign it to, which work you to assign it to for user action. So there's a lot of stuff to happen in the background. I'm gonna I'm now gonna take over this user action box to show you what you really need this.

49 "Jason Masciarelli" (2683188480)
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So when you've shown this app to me before, the app looks very simple from the front end. Yep. Which is great cause that's what you want from a user experience, so they just focus on what they need to do. But there's actually a lot that you're doing in the background to automate and take care of a lot of those things that I would imagine are manual things that are saving them employees valuable time and allowing the employees to just focus on really the specific kind of human and loop stuff that they have to do. Is that correct?

50 "Andy Elliott" (2674206208)
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That is correct. You know, if you imagine that the user did not have this system, they would be doing the classic silver chair approach, they would log into one system to go search for information. They'd log into another system, search for information, they'd probably record it in the spreadsheet or in, I don't knows database somewhere. They would then log into Outlook and send an email to someone. All of that information is consolidated in one system and all of the data gathering exercises happened in the background. We called all the APIs, we've retrieved information and we've populated the screens and it's presented to the user to make a decision on the next step.

51 "Jason Masciarelli" (2683188480)
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Very cool. And you're also kind of combining the best of, AI and deterministic workflow. So you've got a very predictable process where you're not consuming token tokens by running these workflows every time, but you're only using AI and tokens, you know, really when you need to interpret messages and do the NLP work, but then you're using more of a deterministic process to make sure that it's predictable and it's auditable and all that stuff.

52 "Andy Elliott" (2674206208)
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Yeah, we've got higher expectations in the future for the use of AI on this product. We we're gonna come up with some agentic capabilities that will augment the user to help them with their work. For now this is mostly a deterministic process with a little bit of AI around the NLP as you said Jason. It's the it's it's at this point in time it's the most efficient way to handle this business process.

53 "Jason Masciarelli" (2683188480)
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Yeah, that's right.

54 "Andy Elliott" (2674206208)
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All right, so let me explain what you're looking at here. You've got the, so we're looking at an investigation investigation case. You can see the case number up there. Top left hand corner, we get a bit of a summary about the case. We can see it's a cancellation that started off life as an inbound email. It's about ca$1370. I've got a menu down the left hand side that shows me a bit more information about the case. So if I click on transaction details, I see a bit more information about the underlying payment that this investigation relates to. So.

55 "Andy Elliott" (2674206208)
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You know, I know who, who was paid, I know who was debited, who was credited, which banks were paid, who the beneficiary was. I see, you know, when the payment took place or all that information's received retrieved by an API call.

56 "Andy Elliott" (2674206208)
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Down on related messages, I I I'm gonna get some replies and I'm gonna send some outbound correspondence to other banks in a minute and all of that is catalogued here so you can see what happened. And it's all audit trail as well. So you can see what happened.

57 "Andy Elliott" (2674206208)
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By whom at what time. So if there's any need to go back and, and, you know, double check what happened at any particular point in time, it's all all there right for you. And there's this concept of pulse, which is a great way for an investigator of the case to communicate with someone else so I can say to, I could say to my manager.

58 "Andy Elliott" (2674206208)
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You know, you know, please help or, you know, whatever I might wanna say. It's a good way to communicate. So let me go back to the case over here. One thing I probably want to do, I wanna look at that email that started this investigation in the 1st place.

59 "Andy Elliott" (2674206208)
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You you saw it from my inbox, but this is what the investigator would see. So they see oh look they're asking me to cancel this payment. I found, I found the payment. So what I wanna do now as an investigator, I wanna send a message which is called a swift message to the bank that I sent the payment to and say, hey, can I have my money back, please? Cause my custom.

60 "Andy Elliott" (2674206208)
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The main mistake. So I'm gonna go through a process of sending a swift message to the other bank. 1st of all, I pick a place I want to send it to, a destination. The type of message I want to send, the message type.

61 "Andy Elliott" (2674206208)
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Now, these are all ISO 2002 to message message site, they're a little bit, I guess Greek or hieroglyphic in their nature but investigators know what these measure sites mean and it can see 56 is a cancellation request. Alright, so I'm gonna pick a template and.

62 "Jason Masciarelli" (2683188480)
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One thing I don't know if you could do this, but easily with AI you could also have the person just type in a natural language what they need and then the system could help recommend what message type they might need. So those are probably areas that you might start to build in over time. Yep.

63 "Andy Elliott" (2674206208)
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I think as we look at an agentic process to supplement the user going forward, that's I can imagine a you know a little chat window, send me send me send a cancellation request for this payment and it would do what I'm doing, without me knowing all of those individual fields.

64 "Andy Elliott" (2674206208)
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Now, like this, this is a, this is a cancy 56. It's a cancellation request, but you can see all of the fields which have been pre populated, so everything the other bank needs to know about what they want to cancel has already been pre populated. So NO need to worry about that. All I have to do as a user is to.

65 "Andy Elliott" (2674206208)
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Tell the system why I'm cancelling this payment. Well, does my customer asked me to. I can add some free text down here if I want to. I go ahead and click submit and you know the system gives you the ability to define whether you want this to go to verification for a second level of checking or whether it can go straight out to that next bank. And in my case i've turned off the verification that the met has gone, has gone out.

66 "Andy Elliott" (2674206208)
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What I probably want to do is let my customer know via email that we've got their request, we're working on it, and we'll get back to them when the other bank respond to us. So I'm just gonna send my customer back an email and let them know that we are working on their investigation.

67 "Tim Miranda" (1526684416)
00:21:54.654 --> 00:22:26.172
Yeah, there's a lot of things happening here too that are just sort of you're getting for free from launchpad like you showed the audit trail earlier. As you're going through all these actions, launchpads keep a track of the history of what happened for you. You're not having to kind of manage that yourself. And all the attachments everything that they're looking at is all just just managed there. So it's it's cool to see like you're, you're showing them what they need and you're able to focus on like getting the right actions working for them without dealing with all that other stuff as well.

68 "Andy Elliott" (2674206208)
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So there's my email. We in the background we have a number of pre formatted templates which simplify the life of the user. So I haven't got to type this.

69 "Andy Elliott" (2674206208)
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It's pulled in the information from my case, and I'm just telling the customer that we're working on their investigation. We'll get back to them in due course. So I'll go ahead and send that one. And as you said Tim, all of this is recorded in the case. It's all in the audit trial, the attachments are are there.

70 "Andy Elliott" (2674206208)
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If I go back to my case, I can see that I had one inbound message which is the email that started the case and now I've got two outbound correspondence outbound messages. The, the swift message I sent to the other bank asking for a cancellation and the.

71 "Andy Elliott" (2674206208)
00:23:07.739 --> 00:23:33.170
The email I just sent sent back to the customer to say we're working on their case and I can click on those and go look at those if I want to. Now I'll pause that particular part of the demo here. In reality, I'm waiting now for the other bank to send me a reply, that reply would come back in and it would kick off another process. Ultimately hopefully I get the money back. I would credit the customer and that would be the end of the investigation.

72 "Jason Masciarelli" (2683188480)
00:23:33.170 --> 00:23:36.774
And that email that would come back would come directly back into the system as well.

73 "Andy Elliott" (2674206208)
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It would, you know, the swift messages we we we have set up as either Kafka topics or MQQ so again we're listening out there for incoming incoming traffic. We'll pull those in and automatically go through the same kind of processing that the email went through that I showed you when I 1st started this investigation. Very cool.

74 "Andy Elliott" (2674206208)
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Alright, I got a menu up here of other things I can do on my case. I may want to transfer this case to someone else. Most banks want to capture management information related to to their to their investigation. They want to know why the cases happened, so it's, it's quite.

75 "Andy Elliott" (2674206208)
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To, you know, to want to capture an error type and then indicate who is responsible for this investigation, so we have the ability to capture that information for management reporting, update next action date. This is kind of a diary function. If I want to set myself a reminder to take some action on this case tomorrow, so I don't forget I can go ahead and do that, you know.

76 "Jason Masciarelli" (2683188480)
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So NO sticky notes. I guess.

77 "Andy Elliott" (2674206208)
00:24:46.812 --> 00:25:14.509
No way to do that if we want to, but NO sticky notes required. So, so lots of case management options and then you know eventually we're gonna wanna be able to resolve our case and we would go ahead and say, you know, we're completed, customer got his money, and that would be the end of that particular investigation. Let me just while I'm here, let me just go show you a couple of reports while we're at it.

78 "Andy Elliott" (2674206208)
00:25:14.509 --> 00:25:31.079
So obviously lots of information in the system we're able to report on. Some of these are a little bit more informative than others. Single bar chart over here, but you know down here I've got a productivity chart I'm a manager so I can see my team, what they've been up to.

79 "Andy Elliott" (2674206208)
00:25:31.079 --> 00:25:51.079
I can see Prashant here has worked on two investigations. The reports are all interactive. I can go from that pie chart down to my a list here and I can go all the way down to the individual case that I want to as well. Alright, so lots of reporting options. We got some other reports over here. They're, they're just tabular reports at this.

80 "Andy Elliott" (2674206208)
00:25:51.079 --> 00:26:02.375
Point in time but again a good way, lots of useful information to get in mine as a manager so you know what's going on in the system.

81 "Tim Miranda" (1526684416)
00:26:02.375 --> 00:26:21.374
Yeah, that was cool. Take advantage of insights as we can see here to kind of use the data you already have, you've already built up as these cases are being processed and just using our insight capability to, to show them a bunch of different angles on it. So yeah, that looks nice.

82 "Andy Elliott" (2674206208)
00:26:21.374 --> 00:26:24.775
That pretty much wraps up the demo, Tim and Jason.

83 "Jason Masciarelli" (2683188480)
00:26:24.775 --> 00:27:08.568
Great. This was awesome. Thank you so much for sharing this and sharing your story, and one thing I wanted to mention is that, you know, as you were going through, you were, you know, I'm I'm grateful for you to say that you know it was all launchpad, but this is your product. And so the nice thing is that your clients aren't necessarily, you know, aware that it's built on launchpad, right? They're, all they're doing is interacting with Advances and your solution and this is your product that, you know, you've taken to market pretty quickly, you know, based on what you've already built out. So it's pretty cool. Awesome. So Tim, do you want to kind of give your, your report out on on kind of what you've seen and what you think in terms of, you know, kind of what what they took advantage of?

84 "Tim Miranda" (1526684416)
00:27:08.568 --> 00:27:23.519
Yeah, I mean I I really like this product. This is like a real enterprise grade product that they built here. There's a lot of complexity that they're hiding from the user, but they they spent a lot of time being able to kind of effort to build that in there, but you know taking advantage of.

85 "Tim Miranda" (1526684416)
00:27:23.519 --> 00:27:42.479
The pieces of the foundation is a launchpad there so that they could actually focus on how do we take this incoming message and what's the flow and all the automation that we need to put behind that where we get the humans in the loop, you know, it was really kind of great to see the choices that you made along the way there and whether it was.

86 "Tim Miranda" (1526684416)
00:27:42.479 --> 00:28:02.479
The insights, the attachments, the actual like core workflow processing there, right? Like moving from step to step, being able to get it in front of the user where it makes sense. I saw that you guys set up some deadlines and goals too, right? So if something's not dealt with in a certain time period, the platform will use your service level agreements to.

87 "Tim Miranda" (1526684416)
00:28:02.479 --> 00:28:22.969
To you know notify someone or escalate it to a manager. All of that stuff's built into the platform. So, you know, and especially this kind of app where, you know, security isolation scalability are important, you said, you know, there's 11000 banks here that are dealing with this. So you guys are able to build this product.

88 "Tim Miranda" (1526684416)
00:28:22.969 --> 00:28:39.231
Know that all the data is isolated, that you have the security that you need with launchpad. It's exciting to see, see this get onto the market and people start taking advantage of it. Yeah.

89 "Jason Masciarelli" (2683188480)
00:28:39.231 --> 00:28:58.399
And I guess in terms of Andy, you know, as you think about where this goes, you know, what, what do you see this? So this is kind of the pivot and I've worked with a bunch of companies that are in the ecosystem that we've seen kind of make this transition to product and and some of them have been very successful in building out entire, you know, kind of AI.

90 "Jason Masciarelli" (2683188480)
00:28:58.399 --> 00:29:04.448
Businesses and so what do you see as kind of the the door this opens up for answers?

91 "Andy Elliott" (2674206208)
00:29:04.448 --> 00:29:22.109
Well I think we've got a we've got a roadmap ahead of us with itself, so we'll be releasing next month version one. We have high high hopes for version one, but we also have a robust backlog which includes some agentic AI capabilities I talked about myself, I talked about earlier.

92 "Andy Elliott" (2674206208)
00:29:22.109 --> 00:29:42.109
While I focus exclusively on cross border payments, most banks deal with domestic payments and cross border and the domestic payments in each country is a little bit different. So we're gonna be adding capability for fed wire in North America chapters in the UK separate in Europe and all the other major countries as well. So we.

93 "Andy Elliott" (2674206208)
00:29:42.109 --> 00:30:05.389
We have a robust pipeline around and I think we have high hopes of being able to build a second and the 3rd product as well. Now we've got one under our belt. We want to continue that evolution towards building out our our product capabilities as an organization to supplement our services business as well. So, you know, expect to see other ideas similar to tracEI I enterprise grade.

94 "Andy Elliott" (2674206208)
00:30:05.389 --> 00:30:09.852
Products on the launchpad launchpad platform in the future as well. Yeah. Yeah.

95 "Jason Masciarelli" (2683188480)
00:30:09.852 --> 00:30:28.939
That's awesome, and, you know, it really resonates because it's, you know, as we talk to companies about what's happening within AI based development and so on, you know, for building out use cases like this where it's for, you know, banking and financial services, you know, having a platform that, you know, is.

96 "Jason Masciarelli" (2683188480)
00:30:28.939 --> 00:30:48.939
Secure is deterministic, but brings in AI capabilities in compliant way and has auditability and SLAs. Like those are things that would be very hard to build in a full stack way that you probably would have had to have a lot more development engineering resources, Whereas with this again, you're able to focus on the outcomes that you're delivering for your clients.

97 "Jason Masciarelli" (2683188480)
00:30:48.939 --> 00:31:05.849
Versus worrying about infrastructure, authentication, scaling, data segregation, all those types of issues. Absolutely. Yeah. Awesome. Alright, and so do you want to tell us a bit about, you know, kind of where people can find out about this and and see you guys more?

98 "Andy Elliott" (2674206208)
00:31:05.849 --> 00:31:17.369
Yeah, for sure. So there are there are a number of banking industry events of course that go on around the world every year. The two that are, that we are going to exhibit at this year.

99 "Andy Elliott" (2674206208)
00:31:17.369 --> 00:31:37.369
Anyone who who is in and around the correspondent banking space has heard of cybers. Cybers is a major event that goes around the globe every year. This coming year it's in Miami, so if you happen to be in the Miami area in late late September early October, come see us we we have an exhibition stand at cybers.

100 "Andy Elliott" (2674206208)
00:31:37.369 --> 00:31:54.209
Before that we have an event in Europe, so EBA day this year will be in Copenhagen in June I believe, so again if you happen to be in Copenhagen in June, come see us at EBA day. And aside from that, if you've got any questions about tracEI?

101 "Andy Elliott" (2674206208)
00:31:54.209 --> 00:32:10.917
You can either contact me, Andy or if you want to scan that QR code, Pedro Muller leads our go to market activities at EvonSys and is actively out there working, you know, working his contacts and driving early adopters onto the platform. Thank you.

102 "Jason Masciarelli" (2683188480)
00:32:10.917 --> 00:32:30.079
Fantastic. It's great. And, yeah. And if you're interested in, you know, building out your own applications or exploring the platform, you know, go to launchpad.io, sign up for a free account, get started with our explore account and with that you can build using blueprints to really proto.

103 "Jason Masciarelli" (2683188480)
00:32:30.079 --> 00:32:50.754
Type and start to ideate your solution and you know if you're interested in understanding more about how you can build your product and take it to market, you know, contact us, you know, you can contact me or contact sales through the site and with that we will move into questions. So Lena I think we probably got a few questions that I think popped in.

104 "Lena Lisitskaya" (4173329920)
00:32:50.754 --> 00:33:04.853
Yep, we have a few questions coming in. So Andy, why is transaction cancellation handled via email requests rather than being supported directly within the application?

105 "Andy Elliott" (2674206208)
00:33:04.853 --> 00:33:30.279
Yep so we we are going to API enable the front end case creation process in a future release of tracEI. So today everybody's comfortable with emails so it was easier for for version one if we were simply able to support the receipt of inbound email. You are absolutely right and the person who asked the question is absolutely right that if we could make this a little bit more programmatic going forward, it's probably gonna make everybody's.

106 "Andy Elliott" (2674206208)
00:33:30.279 --> 00:33:50.279
Lives easier, so customers of digital banking channels or the bank, if you're a mobile banking user or a treasury management app user or an online banking user, you know, you can imagine looking at your statement and clicking on a transaction saying something's wrong with this. I want to initiate an investigation and that invoking an API call into your that's very much part of our.

107 "Andy Elliott" (2674206208)
00:33:50.279 --> 00:33:51.934
Plans.

108 "Lena Lisitskaya" (4173329920)
00:33:51.934 --> 00:34:05.949
Got it, great. You mentioned you talked a little bit about future of track EI. Is there anything else you wanna add? What do you see for track AI future this year and beyond?

109 "Andy Elliott" (2674206208)
00:34:05.949 --> 00:34:11.399
Yeah, so we're focused on payment investigations today, but if you imagine.

110 "Andy Elliott" (2674206208)
00:34:11.399 --> 00:34:31.399
Sort of commercial banking. They're, they're not just dealing with payments, they're doing with foreign exchange and letters of credit and they're buying and selling securities in in a capital market type of space as well. So I do think that some large institutional banks have a need to provide an exceptions and investigation platform across.

111 "Andy Elliott" (2674206208)
00:34:31.399 --> 00:34:48.054
All of their treasury products, not just payments. So I can see us later in the year adding capability beyond just payments to other products as well to provide a comprehensive ENI suite to a treasury management department of the bank. Awesome.

112 "Lena Lisitskaya" (4173329920)
00:34:48.054 --> 00:34:57.055
Awesome, thank you. Do you see a role for track AI in domestic payments?

113 "Andy Elliott" (2674206208)
00:34:57.055 --> 00:35:31.209
Yeah, I did mention that a little bit earlier on. I I focused almost exclusively in my presentation and demonstration cross border payments, but you know, I think one of the nice things about it it wants to be a one stop shop for all investigations to a, to a bank, not, we don't want to force them to go and use a different system for domestic payment investigation. We want it all in one place. So I think the biggest pain point is cross border, which is why we started there. But if we're gonna sell to a bank in the US it needs to be able to support fed wire, fedmouth, RTP, and so on. If we're gonna sell to a.

114 "Andy Elliott" (2674206208)
00:35:31.209 --> 00:35:48.258
Canada needs to support links in uk's chat so each country has their own different scheme. The nice thing is they're all somewhat similar, they're all based upon what's called ISO 2002 two, but we do want to embrace all of the major domestic domestic schemes as well.

115 "Lena Lisitskaya" (4173329920)
00:35:48.258 --> 00:36:09.894
Awesome. Clearly Andy, you have great expertise in the area and such a deep understanding. Team Jason, is launchpad intended to support B2C use cases or is it primarily positioned for B to B?

116 "Jason Masciarelli" (2683188480)
00:36:09.894 --> 00:36:43.729
I, I would say we focus primarily on B to B that's where organizations get the most value, and that's where it's great fit. So especially like we say regulated industries, so healthcare financial services, insurance, you know, state local governments, you know, those are the areas where you get the full benefit of the platform. We certainly have providers that are building on Launchpad that are doing B to C use cases, and so you can look at some of the stories on our website. So we've got quad marketplace, which is actually, you know, a two sided marketplace.

117 "Jason Masciarelli" (2683188480)
00:36:43.729 --> 00:37:03.175
At colleges and universities where sorority girls can basically sell dresses and rent their dresses, and so we do have things that, you know, folks are doing very creatively in the B to C space, but most of our kind of positioning is, is really helping organizations that are in B to B.

118 "Lena Lisitskaya" (4173329920)
00:37:03.175 --> 00:37:22.169
Awesome. Thank you Jason. And I'm gonna pop in the chat if anyone is interested in the our marketplace link, people can check the video. Team, Jason, how data is controlled in launchpad?

119 "Lena Lisitskaya" (4173329920)
00:37:22.169 --> 00:37:38.774
Solutions. All the data that we saw in payment cancellation, is it completely within bank's control or the provider control or is it launchpad? Who owns that?

120 "Tim Miranda" (1526684416)
00:37:38.774 --> 00:37:58.639
Yeah, so I mean when it comes to the business data of the subscribers, the, the, the data that they're used that's getting built up as part of the application, like that is completely isolated not only from the other banks that might be using this, but, you know, can and is isolated from the provider themselves and from launchpad. We we.

121 "Tim Miranda" (1526684416)
00:37:58.639 --> 00:38:23.170
We don't see that, we don't have access to it, and that's really important because this needs to be, they're subscribing to a product, subscribing to an app, but it needs to be their application, their their data that they're working with. So that's really kind of built from the ground up to be an isolated multi-tenant solution like that, and that's so that's just how it works.

122 "Lena Lisitskaya" (4173329920)
00:38:23.170 --> 00:38:34.454
Awesome. Andy, any more AI use cases you have in mind for the future? You might have touched on a few, but anything you wanna add?

123 "Andy Elliott" (2674206208)
00:38:34.454 --> 00:38:49.980
Yeah I did really cover it already, but the one that's there already in the product today is the NLP use case. So it's very powerful app understanding free text as it might come in in an email or in a swift message.

124 "Andy Elliott" (2674206208)
00:38:49.980 --> 00:39:09.980
And we're gonna, we're gonna add some agent capabilities as, as well to help the user. You know, I think I think Jason asked me a question or maybe it was Tim, you know, wouldn't it be easier if during the generation of the outbound swift message, if you could just type into a chat, you know, could you cancel this payment and you know the system would just know what to do with that.

125 "Andy Elliott" (2674206208)
00:39:09.980 --> 00:39:21.215
As opposed to me going field by field by field and completing out a form. So we'll, we'll come up with two or three, I think useful agentic scenarios that we can, that we can wrap into the products as well. Yeah.

126 "Jason Masciarelli" (2683188480)
00:39:21.215 --> 00:39:39.270
And you can set it up such that your clients could probably configure if they want to use those or not because I know some banks are very conservative about that, right? So there was a question that came in about, is there a workflow to showcase the steps that are AI versus manual? And, I figured I'd just.

127 "Jason Masciarelli" (2683188480)
00:39:39.270 --> 00:39:59.071
You know, instead of typing in the chat, just answer it live. So, I I would say probably the best way to see is when you're in the authoring experience, you can actually configure, you know, what's done by AI, what's done by an AI agent, and what are human and loop manual steps. That would be my answer. I don't know Tim, is that, is that correct?

128 "Tim Miranda" (1526684416)
00:39:59.071 --> 00:40:15.180
Yeah, yeah. And I mean the the cool part is when you build the workflow out, you could start with more, you know, automate, you can add some automation, you can have some human in the loop steps, but you can over time, you know, layer an agent over that so the agent can actually.

129 "Tim Miranda" (1526684416)
00:40:15.180 --> 00:40:39.575
Perform those those steps that normally would feel more manual, and it kind of is the same either way, right? You can see in the the audit trail, the history, like what was run, who ran it, so you can see, oh an agent did this part, a human did this part as well. So if you're thinking about in terms of if I'm looking at a case, what was done by an agent, the system or a human, that's all part of that built in audit trail as well.

130 "Jason Masciarelli" (2683188480)
00:40:39.575 --> 00:41:00.330
Yep yep, I I had this isn't a question but it's something I ran across on a call I was just on before this webinar, and it was a group that was in the financial services space and they said that the to run a lot of their products and processes because they've moved a lot of it to Agentic, their cost of tokens has gone up.

131 "Jason Masciarelli" (2683188480)
00:41:00.330 --> 00:41:15.420
Dramatically, and I was talking to them about how the nice thing with Launchpad is that because we have deterministic workflow, we're not consuming tokens when we're processing, you know, what, like we've just talked about, right? So that's not being handled.

132 "Jason Masciarelli" (2683188480)
00:41:15.420 --> 00:41:35.420
You know, by an AI agent that's going out to consuming tokens and you're only consuming tokens and in this example, you know, where Andy, you highlighted, e.g., the email's coming in, it's interpreting the email, and so we're using AI and token usage in a very, you know, intentional way.

133 "Jason Masciarelli" (2683188480)
00:41:35.420 --> 00:41:56.887
And I think that organizations as they start to see, you know, kind of the cost of consuming tokens, that this approach is actually a really good kind of best of both worlds approach where you can use deterministic to keep your costs low, make it predictable and deterministic, but then also leverage AI where it makes sense as well.

134 "Lena Lisitskaya" (4173329920)
00:41:56.887 --> 00:42:04.616
Awesome. Any other questions? I think that's, I think we've covered we've covered all of them. Yeah. Awesome.

135 "Jason Masciarelli" (2683188480)
00:42:04.616 --> 00:42:32.810
That's great. Well, Andy I, you know, love the work that you guys have done. I I remember, you know, when you and I, you know, had our 1st call talking about this app, you know, a while back and, you know, it was exciting and it's been innovative what you've done, and so, you know, we're here to support you on the journey and thank you for taking the time out to share your story today. And Tim, thanks for jumping in with your perspectives and and questions and and Lena for keeping us on and and running the questions and with that we'll wrap up.

136 "Jason Masciarelli" (2683188480)
00:42:32.810 --> 00:42:40.941
And if anybody wants to share this, it'll be online within the next several hours. Thank you. Have a great day. Thanks. Thanks.