Array

Transcription:

Jonathan Flynn (00:11):

All right. Good morning everyone. Thanks for being here. My name is Jonathan Flynn. I'm with Array. My colleague, Lydiana is in the audience, and hopefully we'll talk to all of you after this. So, what is Array? Array is an embeddable financial health platform that works with financial institutions to give consumers the tools they need to have better identity protection, financial health, privacy protection. We do some other things for consumers like building their credit through our products, helping our partners drive loans and other types of account openings through our offers engine. We even have a student loan aid product that helps people consolidate their college loans. One of the things that we do is we work with some platform partners. What you're going to see here is our demonstration of Array Plus, which is demonstrated on the Jack Henry Banno platform, but we've got a ton of other platform partners.

(01:13):

We're actually over here next to the FIS booth, and they're one of our partners as well. So, this is available through platform partners, and it's also available directly through financial institutions. Our product solution, the Array Plus solution, offers a way to engage your customers, keeping them from having to go to places like Credit Karma or LendingTree, where once they get there, they're going to receive a lot of offers from competing banks and organizations. So, this is a tool that we make available to banks to keep your customers from doing that. The way it works in this instance is that we embed directly into your user experience so that customers can see their tools while logging into their financial institutions; they don't have to go out to a third-party site. I'm going to pause for a second and kill my time clock here because I'm going to tell you that for years before I worked for third-party providers and sold into financial institutions, I worked at Chase, and one of the projects we had was building out our own identity theft protection product, and it took us millions of dollars and probably over a year to get that done. With Array, the way we embed our solutions,

(02:28):

this is a matter of a couple of sprints now. So, having eaten up a lot of that time that I didn't need to, and I share that with you because that I think is really the eye-opening part about this. I'll show you a little bit about our product. When you look at the product in its engagement stage or free-to-customer stage, we provide four products: one is a credit score, one is dark web monitoring, one is a scan of a limited set of data broker sites just to let people know where their information is. If you haven't Googled your name, please go Google your name and then walk over and talk to us about how we can help you get that off of the data broker sites. The other is a subscription manager, and this version of the subscription manager just shows customers where they're spending on a monthly basis against their credit card.

(03:24):

But what we do to help our organizations, our partners, actually make this a revenue source instead of an expense source, is we have this beautiful bit of information below where people can actually see what comes in a premium version. Our premium version in this instance is maybe $8.99. That's a little far away, and customers can see all the additional benefits they get if they enhance to that premium version. This is still within the banking platform/banking app. There's no need here to go to a third-party site. You don't have to put any awkward disclaimers or interstitials in the way here. This is a very smooth transaction. I like it. I want to upgrade to premium. I see that it's going to come out of my account here. I say, yes, I want to upgrade. I've successfully upgraded. Now when I look at these tools, I've got a lot more elements to them.

(04:22):

So, in this instance, what you see is not only do I have the score, but now I have some alerts here. I might have factors, depending on what the tool has been designed to do. It's completely customizable. When I go to identity theft protection, not only do I have the dark web alerts, which I had previously, but now, and this is probably the most important piece of identity theft, I have the fraud resolution and I have the identity theft insurance. Identity theft is great to tell people when something goes wrong, but if you don't have the fraud resolution behind that, it's not super helpful, just an awareness tool. This would include things like social security number protection and change of address protection. So, there are a lot of additional benefits that a customer can get through this iteration. For the personal information protection, this is really a great feature that is newer to the market than most identity theft features.

(05:22):

Not only are you aware of where your information is on data brokers and can see that, but you can see where it's being removed automatically. We scan, we remove, we continue to scan because data brokers will repopulate that information. We also tell you where that's completed. So, you always have an understanding of where you are from that perspective. The last thing is with our subscription manager. Now that you've seen where your monthly payments are—it's an average of 17 monthly billed accounts and $45 a year—you can actually cancel with a couple of clicks. That's the additional value that you can get through this program. Again, it's completely customizable, and I encourage you to come over and learn more about Array. We're right here. Thank you.