00:20:48 · Shannon Scott, Jack Zhang
[00:20:48] S1: I think, like, you know, when I... You know, coming from a computer science background, I just... And and maybe, you know, bigger this age, like, people just love chat. People love chat. Like, I remember, like, before we had mobile phones, you'd actually have to, like, call somebody on the phone and speak with them, you'd have to call up and make a restaurant booking. It's just like people don't call each other anymore. They just want to use chat as an interface. And I think, you know, no matter how advanced technology gets, we may have, like, sort of robotic agents and other things in the future. It's just such a natural way for people to interact with technology now. [00:21:16] S0: You know? And then also you wanted to just ask questions to understand what is going on in your business right now. What is the top 10 vendors in the last nine months? Oh, where can I save money? And you can look at if there's anything out of the policy and I need to pay attention to. And you can also looking at on the revenue side is like, where's my top 10 revenue coming from around the world? And then give you kind of insight on some of the interesting points of, you know, you might find out all of a sudden that you have, you know, a 100,000 customers out of Japan and you didn't pay attention to, and that give you kind of that highlight in real time. All these amazing features, both the AI and the software and the infrastructure that are fully integrated, it's just like a single product.
00:21:16 · Jack Zhang, Shannon Scott
[00:21:16] S0: You know? And then also you wanted to just ask questions to understand what is going on in your business right now. What is the top 10 vendors in the last nine months? Oh, where can I save money? And you can look at if there's anything out of the policy and I need to pay attention to. And you can also looking at on the revenue side is like, where's my top 10 revenue coming from around the world? And then give you kind of insight on some of the interesting points of, you know, you might find out all of a sudden that you have, you know, a 100,000 customers out of Japan and you didn't pay attention to, and that give you kind of that highlight in real time. All these amazing features, both the AI and the software and the infrastructure that are fully integrated, it's just like a single product. [00:22:05] S1: It's so it's so interesting. Like, we started with the financial infrastructure. It obviously takes a long time to sort of build out the infra and create the right, you know, sort of compliance systems. We're moving into software like spend and billing. You talk so enthusiastically about the software that's coming, but it's actually like the sort of the accelerating nature of software itself that gives us the confidence to be able to continue to to provide these services to our customers beyond what we're doing today. [00:22:29] S0: Yeah. Absolutely.
00:22:29 · Jack Zhang, Shannon Scott
[00:22:29] S0: Yeah. Absolutely. [00:22:30] S1: It's it's pretty interesting. On the AI side, like, obviously, we're talking about financial systems. Like, the money movement must be precise and exact. It must go to the exact right person. We need to make sure there's no fraud involved. So, like, if everything just becomes a chat interface, like, what happens now? Am I sort of delegating too much to to AI?
00:22:49 · Jack Zhang, Shannon Scott
[00:22:49] S0: So I think all the financial operations or the the approvals needed, you you you you basically set it up with assistance of the AI, but you still ultimately need to approve it, whether it's by department, by division, by location, by managers, by amount, you can still set up those workflows and you can still set up policies. And the AI just there to interpret the policy, assisting you to put those policies and procedures in place. And once those processes and operations are in place, and the AI just kind of monitoring those processes and make sure everything is following the approval process. Anything that out of those policy and that reads alert, and then you as a kind of operator of the business can go in when necessary to intervene, right? So the AI doesn't actually do anything out of your expectation. Even you have the most beautiful software in AI, it doesn't have the visibility on actual financial transaction, whereas actually money goes out of the door and your revenue come into the door, and you lose, like, the big portion of the the benefit of AI. Right. This is exactly what Airwall is solving for with that kind of fully vertical integrated infrastructure plus software plus AI in a in a single platform. [00:24:02] S1: Right. So the infrastructure, like, is enabling the rails. The software is actually, like, establishing the sort of processes and controls, and the AI is streamlining that and being your partner in actually Exactly. Leveraging that software. [00:24:12] S0: That's the the future of global banking we're talking about.
00:24:12 · Jack Zhang, Shannon Scott
[00:24:12] S0: That's the the future of global banking we're talking about. [00:24:14] S1: Yeah. It's pretty exciting. One more technology that's really interesting is stablecoins. They've had a lot more, like, attention recently. But how do you see stablecoins as being part of, well, financial operations? And certainly, how will Airwalks get involved?
00:24:28 · Jack Zhang
[00:24:28] S0: When people talk about stablecoin, they still kind of of associate that, occur that to cross border payment. That's kind of a better way of moving money globally. That's kind of the tagline right now. Where if you kind of look into the details of how stablecoin operates, if I'm paying a vendor, I'm paying an employee in Europe from The US, that the employee or vendor in Europe may not want to take US dollar stablecoin, and they might just want to still want a euro in a bank account. In that case, it's not necessarily the most efficient way of using stablecoin because they still have to, you know, off ramp from USDC or another sort of US dollar Stablecoin to Euro. And the spread on that transaction is generally 10 times more expensive than how the G10 currencies get converted and transacted today. And we also have real time payment system in most of the kind of countries in the world, like of faster payment in UK or, say, for instance, Europe. So actually paying an employee and paying a vendor from US to Europe is already real time. And the cost of that is almost on FX conversion is very minimal. As it's kind of largely a problem already solved. But if the merchant or the vendor in Europe decided to take stablecoin for whatever reason, that air wallets are prepared to build those infrastructures so they can, we can support stablecoin transfer. So if you are a business in The US, you wanted to leverage in stablecoin or USCC or another type of form of stablecoin, you're paying a vendor and provided the vendor have to accept that stablecoin. And then we're more than happy to provide that service. And as sort of stablecoin getting more popular, more adopted, and we might see more and more business that kind of more open minded to do business in highly unstablecoin, and that you don't need to worry about off ramp anymore. And as that sort of trend taking off, Airwallex are kind of there for you. When we talk about building the best money with infrastructure or best financial infrastructure, we're not just talking about fiat. We're talking about any digital endpoint or any form of currency. And that's all part of the vision of building the best financial infrastructure for AirWallocs, and that's kind of exactly how we imagine what the future of global banking lies.