1074. News: Nuvei splashes the cash on Payoneer, Current raises $80M to improve Americans' financial health

23:20Ross Gallagher:Um, Maya, what about, um, current and how they're, um, sort of trying to solve for some of these fundamental issues in terms of, I guess, helping people with financial literacy, build their financial confidence and improve their financial health and position over time. Totally. I mean, Sam talked about all these big macroeconomic factors, and I agree with him entirely. Like, I think when you talk about financial health, it's made up of your income, how much money are you making, and then your expenses, which in the U.S. at least is mostly housing, health care, transportation, and education. Those four are the bulk of it.

23:59Okay, and child care. And child care. but it's right it's not um you know sometimes people get flagged for buying big screen tvs it's like dude like tvs are cheap it's not the tvs it's the other things now when i look at current so current what what it is it's a financial wellness platform um wellness i think being a phrase kind of pioneered by gwyneth paltrow to mean eating well without dieting uh are they Are they helping with that? Like, are they helping with the income? Are they helping with child care costs? Are they helping with housing? It's like they're mostly a consumer credit facility sort of dressed up in a checking account UI, right?

24:39They've replaced like payday lenders on the corner. They offer their paycheck advance product, which is up to$750 out of your next paycheck. I think it helps a little bit, but I don't think it like is in a position to make a huge dent. And I even think things like financial literacy, it's putting the problem on consumers when there's only so far that financial literacy takes you with these big costs and with the low income. Oh, my God, I love that. Thank you, Maya. I couldn't agree more, right, on that because we've been constantly talking about that within the fintech community and the democratization of financial services.

25:17you know what some of this is out of the hands of the industry in all honesty and this gets to the society and the government that you have and play hate to say that but that's you know

25:29Ross Gallagher:a little reality check and again not to not to want to be too cynical um although it feels like we're sort of pretty far down that rabbit hole on this story um but it sam it also kind of speaks to the the fundamentals of the the banking business model right like yeah at the end of the day you know, there is a question mark around financial literacy, I think specifically as it relates to like, where does the responsibility sit to build people's financial literacy, to give people the tools that they need to be able to manage their finances in the right way? Because for me, it doesn't feel like the traditional banking business model sort of enables that.

26:14Yeah, one of my favorite stories, Liam, this is just for you and the team at Plaid. Back in the day, I helped lead a study when I was doing consultancy. And it was with a bunch of grad students at Warden. So great school in the U.S. And we were talking about Mint. You don't remember Mint. And we were getting their opinion on Mint. And I just loved one of the comments one of the students made, which was, yeah, it took me three days to key in on my finances for it to tell me that I'm broke. No shit. But I laughed so hard at that. That was one of my favorite comments. So, yeah. Thank you for telling me I broke like I didn't already know that.

26:53You know what's crazy? It's like, that's hilarious. But at the same time, sometimes people need to be told that they're broke. And it's like, I feel like there's sometimes you'll... And I'm going to sort of compare it to what I'm seeing out there in the UK and Europe in general. You've got, and this is going to make me sound like an old man getting on my soapbox and saying, social media saying this and whatever. But like, you've got this image of society right now where everybody's doing extremely well. Everyone's buying more than they've ever been able to buy before. And then you've got a lot of people who are looking at their bank account and they're thinking, how does my bank account look like this?

27:32But everybody else looks like they're doing really, really well. And sometimes you need to have that reality check of, I can't be spending how everyone else is because I don't have the level of income that's necessary to do that or the savings etc and oftentimes people don't have that person to say that to them and it leads them in a very tricky situation and from my perspective this is where it's good for the information to be shared with them for them to see what's happening in their bank account to for them to understand what transactions they're actually making and how that influences their widest sort of financial picture.

28:06However, there needs to be another step to say, what do I do with that now? And that's what's often missing. In that situation that you just mentioned, Sam, after he realized he was broke, what did he do? Yeah, exactly. And I see this with my kids. So my son is the first generation to graduate from college where they've had AI all four years. his entire college experience has been having a tool that even my daughter is only two years older than only had halfway through her school and what i've noticed between three of my four kids is and they know i'm in the business is when they talk about their their finances it's usually okay um chat gpt told me to do this what do you think and i'm like i'm your dad But shouldn't you say, my dad said to do this ChatGPT, what do you think?

29:01And I think that's the new reality that we're going to live through. And it's who owns that. Is it going to be ChatGPT that owns that? Or is it going to be one of these tools using AI to gain that trust? Because, by the way, I don't want to be giving that information to ChatGPT. Let's just be blunt. I don't want my finances going out to the ether. Oh, I use ChatGPT for my taxes. I use Claude. I'm like, look at all these PDFs. I love to do investing, right? Which means I have 1 million K1s, which is this horrible form that you have to use for to file your taxes. So I'm like, please go look at this folder that is just all of my K1s and pull out the relevant information that I need to know and which number goes in which boxes to file my taxes.

29:46Again, kind of a U.S.-specific problem. But AI has been awesome for that, as far as I know. You hear that doorbell that was the IRS. They just showed up. They haven't called yet, but yeah, you know, so far. No, I know. I just, I find it fascinating that, again, who's going to own that relationship? Who's going to own that screen? Who's going to own that glass? I think that's going to be fascinating to see. Well, so you said, like, you don't trust TAT-TPT with that info. Would you trust your bank? Like, who do you bank with, you know? Would they, if they had an AI companion, they already know all your finances, right?

30:24So you're not adding that level of new sensitive data. It's just the AI advice. And that's not a new discussion, right? Gets back to trust because we had this when the fintechs first came out, right? Who are you going to trust, this tech company or your bank? And remember, we used to talk about Google and Apple, right? They're going to be a bank. So this argument continues to happen, and it all comes down to my favorite word, which is who do you trust?

30:46Ross Gallagher:And also regulation, though, right? because one of the biggest challenges that we have, certainly here in the UK, around sort of giving consumers meaningful sort of next steps and suggested actions and recommendations has been the regulation governing the sort of difference between advice and guidance and sort of financial providers, financial services providers not wanting to almost sort of even get close to that line. And I think that's partly why we've seen... And more importantly, Ross, is getting that holistic picture. Wait, we have somebody from Plaid on this call. Hey, Liam. Hey. But you know what?

31:24I mean, the reality, right? Where your financial footprint is all over the place. Yeah. And how do you get that complete picture but still maintain trust? Yeah, and I don't... It's not a question that Plaid can answer on its own. It's making sure that we're aligned with our partners. You mentioned ChatGPT. We already worked with the OpenAI team over in the U.S. to provide that financial data into ChatGPT and people are using it right now. It does boil down to what platforms do you trust? It's like some people will be happy to go into ChatGPT and put that information in. Others will only feel comfortable doing that with a bank or a fintech app.

32:08I feel like there's also another side of it. So there's a trust and there's also who do you feel will reprimand you more or embarrass you more if you say crazy things and I don't know like for some people they believe that going into chat gpt and asking what I'll put in quotation marks as silly questions but because but they're not they're questions that deserve answers is much more straightforward than having to go to speak to someone and then them looking at you saying, how did you not know that? So a lot of people are just making sure that those conversations stay there and they won't take it elsewhere.

32:47And for those who do trust their FinTech app, they might have that conversation there instead. But yeah. Honestly, that's such a great point. And I use, I love, you know, I know the finance side pretty well, so I don't have that specific concern, unlike many people, but I use AI for gardening advice and everything. So I take a picture of my plant and I ask an LLM what to do and it tells me. And then I say, I need you to dumb it way down for me. Like literally, right? Because it'll say like, you should deadhead the this and that. And I'm like, no, no. I need you to like circle pieces on this picture and tell me exactly what to do because I am an idiot and I don't know anything about taking care of plants specifically.

33:28And it's so much more comfortable for me to do that. If I had a gardener or a landscaper here and ask them questions, I don't know that I'd be comfortable saying, actually, like, I need you to dumb it way down for me and explain it in a level that I can understand. And I don't feel bad taking up an LLM's time. I don't feel bad asking it to repeat itself. I don't feel bad changing my mind and saying, actually, like, what if we went this direction instead? And that's honestly, like, one of the huge values of working with LLMs for me. I get to be nitpicky. I get to be stupid. I get to be the worst micromanager in the universe.

34:03And I think there's actually a huge opportunity for that to play out in the financial advice side, pending some regulation and other concerns. Yeah, Harvard Business Review published, it was back in April, published a report from MIT, the top three global use cases for AI. I used to do trivia with Maya all the time when we did a podcast together. It's my favorite thing to do. But the top three use cases, and I won't ask you guys to guess them,

34:31therapy, companionship, and life coaching. Top three, which gets to your point, Liam and Maya. You're willing to ask those embarrassing questions in that environment, which now explains why my kids went to ChatGPT first and not me. Great, great. I just did therapy for myself. More comfortable. All right. All right.

34:51Ross Gallagher:Well, look, I think we could talk about this story literally all day, but I am going to move us on. We're going to go to a very quick pause, and we will be back with you very shortly.

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36:07Ross Gallagher:Before we get back to the news, we wanted to tell you about our latest Insight show, Stripe. You've probably heard of them. Well, last week, we headed down to the London stop of their World Tour to hear directly from the team about two of the hottest topics in financial services right now, stablecoins and of course agentic commerce. If you haven't listened yet, the episode is out now. Just scroll down in your feed. It's the one right below this episode. Now back to the news and our final main story this week is from City AM with the headline, Acorns sells UK youth banking app GoHenry to Barclays.

36:41Ross Gallagher:Barclays has agreed to acquire UK youth money app GoHenry from US fintech acorns in a deal reportedly worth around 180 million pounds the acquisition gives barclays access to go henry's 500 000 active users and its platform focused on helping children and teenagers learn about money through prepaid cards budgeting tools and gamified financial education the deal comes as banks and fintechs increasingly compete for younger customers viewing early relationships as a potential gateway to long-term banking, wealth, and financial services management. I thought this was such an interesting story. I guess maybe Maya, it'd be interesting to get your sort of perspective, your take on this.

37:27Ross Gallagher:What was your reaction? I mean, this is a very fast round trip for Acorns, which just purchased GoHenry in 2023. three. Like, that is a quick turnaround. But, you know, I really think kids stuff, tricky business to do kids FinTech app, tricky business. It's easiest to make it work when it's an on-ramp into a business for adults that makes sense. Acorns has no adult presence in the UK. They only had this kids thing in the UK. And the GoHenry acquisition, it came with France and Spain presence as well via GoHenry's PixPay acquisition. Acorns is keeping that piece. So they're keeping France and Spain.

38:10They are just spinning off the UK piece. I feel like they probably couldn't really make it work. And then the flip side is on the acquisition side. For Barclays, you know, this is a high street bank. They are having their lunch eaten by Monzo and Revolut, they have, you know, very few young customers. So they're probably looking at their business and saying, okay, all of our customers are boomers. What happens when they die out? You know, we've sort of lost the youth banking race and we need to get in there. Go ahead. It makes a ton of sense. So my guess is Acorns was like, look, it doesn't make sense for us to have this standalone kids product in the UK.

38:48This was their first international foray. They have nothing else in the UK, they can probably eliminate a bunch of operational overhead and probably some losses. I doubt GoHenry is profitable by pawning it off to Barclays, where it's worth a lot more to them to try and compete for the young customer to really compete against Monzo and Revolut. So that's how I see it. But honestly, it's so fast for them to even go from acquiring it, trying to integrate it, make the decision it wasn't working, and sell it to someone.

39:22Ross Gallagher:Yeah, super interesting. Sam, it is an interesting space. And it's a hot space. Like, you know, to Maya's point, you're seeing Monzo, you're seeing Revolut, NatWest, others, sort of all heavily investing in, you know, those youth-focused propositions. Does this feel like a smart move by Barclays? Yeah, I think for them, definitely. I think it's interesting, though how we talk about you know is this a growing trend um i don't know i've been doing this for 30 years this isn't anything new i mean i'm sorry this is you know how do you how do you actually capture the paychecks early and how do you how do you make this their next step right and early on it used to be you just banked wherever your parents banked or you just banked wherever the closest branch was so you could you could take a check and get it deposited now with with you know direct deposit and everything else your your options are so spread you know i mean you got a place basically where you're holding a deposit but then you have other things like cash app right that you're using for your your day-to-day spend um i do like maya's point though i so again um i have a lot of kids and all of their friends uh because i grew up in the uk are from there and i can tell you every single time they're in the u.s it's a monzo or revolute card that's coming as being whipped out.

40:38I don't ever see a Barclays or a RBSG or a NatWest or anything like that. It's always the, I'll give Monzo a shout out, it's always that card. I recognize it as soon as it comes out and I just start laughing, right, as soon as I see it. So I'm like, yep, I could have guessed that.

40:51Ross Gallagher:I guess that, that hot coral effect still works, right? Like it's still super recognizable all these years later. It's there. You see it come out. We also, in the US, people used to love to market to college students and they would give them free t-shirt, right? It was like a whole business. And the 2009 Card Act put the kibosh on that. And so in some ways, everyone's like, okay, well, now that we're not allowed to buy pizza for college students, how are we going to get into the hands of young customers? Yeah. I was going to say, this is a story that's like quite close to my heart because I've got two under five-year-olds.

41:30And I've been obsessing about the sort of like financial plans I can make for them, how early I can be investing, looking at junior ISAs, etc. So when I saw this, I was quite excited given that I have a relationship with Barclays and it looked like they're finally starting to invest in that side of the business. they don't currently have junior isis go henry has junior isis maybe that's something that they're thinking about expanding um when they bring that in they're obviously buying a massive um sort of client base or customer base there already which is also um very useful for them going forward but i if they're going to make this work i think it needs to be the first step in a much greater focus on the youth space.

42:23It can't just be, okay, we bought GoHenry and we're going to leave it like that. I mean, a bigger focus on the youth space and what is the on-ramp to their other more profitable products? Because youth, it's just, it's a really hard business model. Most of them are making it work with charging a subscription fee. People don't love that. But it's because kids don't have any money. You can't generate enough off energy. Like, right? I mean, kids don't have any money. And if you look even, right, there's been a lot of false steps. Current actually started out as a bank for teens. And then they realized it's not that big of a business.

42:56It's not that good of a business. They expanded to be everybody. Greenlight started out doing banking for kids. Not that good of a business. They pivoted to do B2B2C and they now enable this for other banks. Right? It's like we've seen a lot of GoHenry sold to Acorns is now being clipped to Barclays. You've really got to position it as here's a funnel to our more profitable products or like in order to find a business that makes sense there. Because I just don't think that there's going to be a subscription fee that makes sense to make a big business. There's just not that many people who are willing to pay that much for their kids banking.

43:33Yeah. And I'd say in the U.S. who really dominates here, Ross, it's big banks. It's Chase. It's Cap One. It's Bank of America. They're doing great. and then Cash App and Chime. I mean, that's pretty much who owns this market.

43:49Ross Gallagher:But what really is interesting, and I guess sort of reading between the lines, I think we've sort of made this point, but just to reinforce it, it's not just enough for Barclays in this example, but any large bank to acquire a, you know, a kid's account provider and then kind of think, all right, job done, and lazily just assume that once they get to the age where they qualify for an adult count, they're naturally going to take a Barclays account. There needs to be a, I think this is the point, Maya and Liam and Sam, that you guys were making, is like there needs to be a strong customer value proposition to make them want to do that.

44:27Ross Gallagher:And it's not just going to be a default action. Okay, great. Like I was GoHenry, so now I'm going to be Barclays. Yeah. Yeah. It makes me think back to when, who was AdeptBotSimple? I don't remember. Santander or what BankBotSimple? BBVA. BBVA. Remember, they bought them? Yeah. They bought them. They're like, cool. And then didn't do jack crap with it. Yeah. And then shut it down. You're like, why'd you buy it? To be honest. I mean, my local credit union, I feel like they have a great option for kids. One of the things they have is a little savings account. And you get 7 % interest on your balance up to$750.

45:03So, like, it's a cheap, right? That is a cheap thing for the bank to provide. But for a kid who's got less than$750, it feels like they're earning a lot of interest on their money. It rewards them for savings. It's a cute product, you know? I think it's great.

45:17Ross Gallagher:Liam, one thing that I did want to reflect on, you were saying about your two young kids and kind of thinking back to the conversation that we were having earlier around maybe where the responsibility sits to sort of teach those good financial habits and behaviors. years. Do you think that these these kid apps like like Go Henry have actually made some strides there in terms of, yeah, helping young people build those habits from a very young age? I think they're good tools and good nudges. I feel like a lot more is needed. I sort of liken it to I'll have conversations with my sister, for example, who's a few years younger than me grew up in the same house.

46:02I have been obsessed with financial services from the moment I could study economics to to now. And I know a lot about it. But we grew up had the same upbringing and she'll ask me very simple questions like, how does a stocks and shares ISA work? And that's us in the same home, same upbringing, using the same tools up until that point and the void in terms of our understanding of financial markets is huge so we had i can't and i feel like this sort of ties into um some of the conversation we were having earlier you can't put all of that on a platform um to sort of like teach someone you also need other nudges from other places and for me um one thing that we didn't speak about in in the home was um how to manage finances.

46:52I sort of like took that upon myself. But now that I've got two young kids, it's something that I'm going to be speaking about all the time because ultimately that's the best source of that information. And it's not just a, okay, I'm going to sit down and do a two hour course. It's how can you weave that into the daily activities? And a good example is I gave my four-year-old five pounds a few months ago and I said, okay, take it to the toy shop and we're going to buy something. You should have seen his face when he realized how little he could buy with five pounds. And I feel like it's little things like that that help them understand the value of money and the fact that it's a very, very good skill to be able to manage it well.

47:33That is so awesome. And you know, Liam, right, this does go back to our earlier conversation. And I feel like I've gone through a similar transition. You know, I also have two little kids. And it's made me realize that, you know, Liam was talking about people see on Instagram, you know, that they get a new car every year and things like that. That's not normal. And I actually think it's sort of the responsibility of parents to set the standard. Like, that is not normal. That is, you know, if you can afford that, here's how you know if you can afford that, right? Can your five pounds buy a new car every year?

48:07No. So we've got to think a little bit differently. And so I love those little examples. And I do think like that's kind of, I don't know, like that's kind of the parent's job is to set up their kids for success. These tools can help, but the tools don't, the responsibility doesn't lie with them for setting kids up for success and being financially responsible. When my second oldest daughter had her first kid, I sent her a checklist of things to do the day that they were born. It was like getting them an email address, you know, setting up the college fund. Did you open up a Trump account? It was a series of things.

48:43That didn't exist then, Maya. You're so old, I forget. Yeah. Okay. Well, that was great, everybody. And bye. All right.

48:54Ross Gallagher:Well, look, on that perfect note, we're just going to take a quick pause here, and we'll be back with you very, very shortly.

49:05Ross Gallagher:Zootopia 2 has come home to Disney+. Let's go! Get ready for a new case. We're gonna crack this case and prove we're the greatest partners of all time! New friends. You are... Gary the Snake. And your last name? The Snake. Dream team. In new habitats. Zootopia has a secret reptile population. You can watch the record-breaking phenomenon at home. You're clearly working at it. Zootopia 2, now available on Disney Plus Rated PG.

49:37Ross Gallagher:Okay, now for a quick look at a story we don't have time to cover in full. This one comes from the papers with the headline, Revolut and Uber Launch Loyalty Partnership. So Revolut and Uber have launched a loyalty partnership across the UK and Europe, giving Revolut customers a tenfold boost in rev points on Uber rides and line bike and scooter journeys booked through the Uber app. According to the article, the partnership expands the range of everyday spending activities linked to Revolut's reward program and reflects a broader trend of financial services providers using lifestyle partnerships and loyalty benefits to deepen customer engagement and encourage customers to make their account their primary spending destination.

50:21Ross Gallagher:Look, my reflection on this, it makes a ton of sense, right? Like this is win-win-win. And this encourages customers to use Revolut as their primary account. It boosts, it probably drives more business for Uber. The end user benefits because they're getting the boost in the RevPoints. I think this is also probably the first of probably many similar types of partnerships and offerings that we're going to see that builds on the RevPoints proposition. So good on them. I think Revolut are in a place at the moment where it seems like they can do nothing wrong. And I think this sort of continues with that.

51:03Ross Gallagher:All right, now our and finally story this week, which is a story from the world of fintech we couldn't not cover. It comes from Banking Diver, the headline, Newbank notifies customers of its liquidation in error. Newbank was forced to measure to reassure customers after an operational error triggered notifications incorrectly stating that the Brazilian digital bank had entered liquidation. The message, which was reportedly caused by a developer accidentally activating an internal protocol, prompted confusion among customers before the company clarified that all licenses remained active and operations continued as normal.

51:40Ross Gallagher:The incident comes as Nubank, now valued at more than$80 billion, continues its expansion and prepares to launch a U.S. banking operation. Well, going from my previous point about maybe one brand that can't do anything wrong, this feels like a pretty big misstep. Sam, you've got your head in your hands. I'll start with you. Well, no, I just, I had sympathy back in about 25 years ago. So I can't go to jail now, so I can mention this. But when I was working in the UK and I turned off all paper statements for the Royal Bank of Scotland's customers for three months. That's illegal, everybody. That was a long time ago.

52:22I'm safe. I mean, this is like an incredibly important regulatory, right? Statements are like the number one thing that regulators care about. 25 years, everybody, I'm safe. But I option setting, and the option setting and then the mainframe, I got wrong. And then I was like, oh, well, I'll be danged. That was me. So, hey, I got sympathy because the mainframes suck. It was horrible. Well, I'm a little confused by... Okay, so I'm not confused by mistakes. Mistakes happen, and I want to make sure that there's not too much focus on fintech specifically, right? I feel like I keep hearing about Citibank credited a client's account with$81 trillion instead of...

53:05Do you know what I mean? Paid off a billion-dollar loan, the Red Blonde fiasco. Paid off a billion-dollar loan instead of processing the interest payment. They didn't get that money back. You know, so like... Happened. Everybody makes mistakes. The piece I am confused about is, did they have a push notification in their system in case the bank liquidated? That's the part that I think is kind of confusing. They're like, oh, yeah, we made this push notification just in case and accidentally fired it off like that. I mean, Citibank wired the wrong amount. That makes sense. They got a system for processing wires.

53:36You type in an amount, they typed in the wrong amount. But the push notification thing, like the engineer didn't make it up. That was a push notification they had in their system. That's the part that kind of surprises me about this story. I've never heard of anything like that before. That's the thing. And by the way, I love NewBank. Love NewBank. Smart and incredible. That's just, yeah, everything about this story is weird. Are they expecting to be liquid? Like, I feel like there's like maybe more to this story.

54:00Ross Gallagher:Yeah, what's the actual story here? Yeah. Liam, what was your reaction to this one? Exactly the same as Myra and Sam. Just confusion, really. it's a big on goal for a company that's done so well over the years and yeah I'd love to understand what the backstory is there to my point why do you just have that notification there ready to go so I don't know it's a weird one there's more questions than answers yeah I'm also just trying to put myself in like the customer issues right you know you get that notification you're kind of like huh Like probably equal parts like confusion and terror. Confusion, terror.

54:42I mean, are you moving your money out as fast as possible? I know like Mexico has had a lot of problems recently with their banks and people are having their assets frozen. And if you can move as soon as you hear a whisper of anything to get your money out of the system as fast as possible, it benefits you. So it would not surprise me if NewBank saw a bunch of deposits leave their system. And that sucks for them because 100 % of those are not coming back. And I'm sure that they are suffering business impact off this air.

55:14Ross Gallagher:And the reality is that like a run on the bank in like a digital age, it happens a heck of a lot quicker than it used to where you used to have to go to the branch and queue outside. And we saw it with Silicon Valley Bank and we saw it with a couple of others. As soon as you start to see some rumors online that, you know, maybe you should move your money, it happens pretty quickly. Yeah, I was about to say Silicon Valley Bank. right to really yeah I can't believe this is actually happening but yeah exactly digital age alright well look that feels like a really good place to wrap thank you so much to today's guests maybe we can go around one by one you guys can tell us where people can find out a little bit more about you a little bit more about your companies Maya why don't we start with you yes the best places on Twitter I still call it that I am at Maya B M-A-I-A-B So follow me and I talk a lot about FinTech and my two kids who are very cute.

56:11And I have open DMs. So send me a message anytime.

56:14Ross Gallagher:Awesome. Thank you, Maya. Sam, how about you? Probably LinkedIn is a good one. And I play on threads a bit now. So go figure. Nice. All right. Liam, how about you? And yeah, you can just catch me on LinkedIn. So just Liam Gray, applaud. Amazing. Yeah, LinkedIn probably still best for me as well. That wraps up today's episode. Thank you so much for listening to today's show. If you like what you heard, please make sure to follow us on your favorite podcast platform of choice. And if you really like what you heard, why not share the podcast with a colleague or friend? As always, if you want to join the conversation, find us on social media, just search for 11FS or FinTech Insider or email podcasts at 11fs.com.

56:57Ross Gallagher:Thank you again and goodbye.