Georgia Fintech Academy

S2 - Episode 13: The role of data analytics in fraud prevention - Chief Seer, Adwait Joshi along with Ansley Israel, University of North Georgia

May 14, 2021 Georgia Fintech Academy Season 2 Episode 13
Georgia Fintech Academy
S2 - Episode 13: The role of data analytics in fraud prevention - Chief Seer, Adwait Joshi along with Ansley Israel, University of North Georgia
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Georgia Fintech Academy
S2 - Episode 13: The role of data analytics in fraud prevention - Chief Seer, Adwait Joshi along with Ansley Israel, University of North Georgia
May 14, 2021 Season 2 Episode 13
Georgia Fintech Academy

This episode features Chief Seer, Adwait Joshi the founder of fintech company Dataseers. Adwait talked with Ansley Israel of the University of North Georgia about the growth of Dataseers and the company's ability to help clients prevent fraud in new innovative ways.

Show Notes Transcript

This episode features Chief Seer, Adwait Joshi the founder of fintech company Dataseers. Adwait talked with Ansley Israel of the University of North Georgia about the growth of Dataseers and the company's ability to help clients prevent fraud in new innovative ways.

Speaker 1:

Welcome to the Georgia FinTech Academy podcast. The Georgia Vintech Academy is a collaboration between Georgia's FinTech industry and the university system of Georgia. This talent development initiative addresses a massive demand for FinTech professionals and give learners the specialized education experiences needed to enter the FinTech sector.

Speaker 2:

Hi , this is Tommy Marshall , the executive director of the Georgia FinTech Academy. And welcome to season two, episode 13 today's May 13th, 2021. And I am super excited to have a Dwayne Joshi, the chief sear of data Sears with us today, along with Ansley Israel student at university of North Georgia. Welcome to you both I Tommy . Thanks for that .

Speaker 3:

Thank you for having me Tami as well.

Speaker 2:

Dwight , I'd like to start with you in terms of introductions, are our audience, particularly of students loves to hear the career stories, especially a founders , FinTech founders like yourself. Um, tell us,

Speaker 3:

Yeah . All right . Gosh, where do I start? So, you know, God, of course I'm from Mumbai , uh , Mumbai India. That's where I born and brought up, grew up there. Um, I guess I started doing computer science , uh , C plus plus programming when I was 15 years old. And I had, I took a challenge with my mother that, you know, at the time we couldn't afford a computer. So I told her that if she bought me one, I could figure out a way to make money. So she laughed me, laugh out of course, and said, you know, that's not going to happen, but sure, here's a computer for you because I love a challenge too. And I took that computer and Microsoft windows 95 came out in 1995. I'm dating myself here. Uh, and we use Microsoft word 95 to actually , uh, create some , uh, basically create what back in the day in India, they used to call us desktop publishing. It was desktop was towards DVPs , what they would call it. And , uh, we started printing these books for schools and universities, and we made a lot of money back in the day. Of course, anything, computer was expensive. We were almost charging like a dollar, a page to type it all up, create the diagrams and all of that and was cheap because typing was more expensive. Copying was more expensive. So I guess that's where my first , uh , business idea began in the summer of my 10th grade , um , you know , summer vacation. And that went on for about three or four years where I earned enough money to actually pay for my master's education. So, you know , of course that had to be sunset came to us in 2001, got my master's degree in , um, advanced computing. So data and distributed data and complex data sets is what I went to school to do my master's in , uh , my thesis focused on, you know , uh , people who had sort of move policy and their reach and grip strengths. So it's hard to visualize, you know, how the reach and how the grip objects in a three-dimensional of X , Y , Z axis. So my, my thesis , uh , actually ended up creating a software to analyze that data in the spatial data, along with other objects. And that research still continues in university of Georgia. Uh , almost about 20 years later, if I had never , of course expanded all of that. I was wanting to start my own business, but of course, being an immigrant, you have to go through the visa project and so on and so forth. So right when the economy was turning down in 2008, you know, I , uh , thought that it would be an amazing idea to start a business. Of course, everybody was like the foolish , uh, which I did. And I started the business in 2008 and which eventually got acquired eight years later. Uh, it was focused on data and , uh, towards the last two or three years, I kind of got involved in financial services data. And the problems that I found were that people really did not understand data as a whole and hence , uh , good and solve the problems surrounding it. And so , uh, you know, I had this idea that something had to happen, right? So obviously being a data lover, I've worked in a lot of different industries, right? So people, people look at my resume and be like, wow, when did you do this? So, you know, if you have a dog, you , uh , I'm pretty sure that you have used Heartgard or our frontline, you know , Maryal , uh , company who produces it . I used to work there and I was to figure out, you know, how our takes propagating from South Florida all the way to the Northeast side and what is the production rate of them coming in? So how , you know , it was, it was a nice visual that, you know, the idea was to put it in, in, in, you know , um, doctor's office says that , or people get scared that, Oh, the ticks are coming. Like I need to buy a product, right . It's a classic marketing technology to get people to buy. So, you know, I've done some pretty amazing stuff. And of course , uh , found my love in , uh , financial services. Um , this is what I have been doing for almost a decade now. Um, and I absolutely love everything about it because , um, anytime you add a dimension of time to data, it becomes , uh , complex. And, you know, we have always heard this data is not static. It's a living and breathing thing. Most people don't know what that means. Um , you know, but think about it saying that if you add a dimension of time over a little bit of that time data morphs and changes. So that's where the whole financial services industry sits is that, that addition of that time interval for traditional two dimensional data

Speaker 2:

In a very data rich industry , uh, Oh yeah . In some meaningful way while I want to talk more about data Sears , but let's, I want to Angela , I want to give you a chance to introduce yourself as our student guests today.

Speaker 4:

Yes. So my name's Angela Israel, I'm currently a senior at the university of North Georgia. So I actually just finished up all my undergrad classes and my last academic credit will be my summer internship with FIS. I'm going to be a business systems analyst, and I'm very excited. Um, I've done several events with Georgia fine tech Academy and actually Tommy and I just did an interview during the FIS enrolled X conference. So since I've kind of been connected with Georgia fine tech Academy, obviously I'm doing this podcast now today, a lot of doors have been opening up and I'm really excited to see, you know, how many doors continue to open up and what my future holds with Georgia fine tech Academy . And , um, now being a part of FIS as well.

Speaker 2:

Yeah, no , thanks for being with us today, Ansley. And , uh, we are so thrilled about your engagement with the FinTech Academy. You are one of many women that we have engaged with our program. In fact, 34% of the students that engage with the program are women. And , um, what's of course the industry is extremely excited about that because the FinTech industry as a general rule has , um, had less representation, I guess I would say than it should from , uh, from women in all sorts of levels and roles. And so , um, I know , uh , the hope is you'll be an important part of changing that. Uh, and then, yeah, we, I mean, as you and I were real famous now, I mean, we , we got , uh, FIS was generous and , uh, they, they spotlighted us in our conversation in their global conference , uh, Dwayne , which has been running for the last three days. So , um, we've got a lot of , uh, awareness through that. And then the president of FIS, Bruce lo there's also mentioned the Georgia fender Academy and his keynote address to that entire global client conference. So , um , we're riding on a bit of a wave , um, uh, as a result of that , uh, uh , recent , uh, spotlight. So , uh, Dwayne, I mean, let's talk about data Sears . I, I , uh, I , I love your company. I've just so much value to our relationship. That's been , uh, evolving , uh , really since its beginning, right? I mean, we, we met early as you were putting the company together. Um, you got engaged in our FinTech South innovation challenge , uh , the very beginnings of , uh, the life of data seers and then, and now are part of our , um, advanced technology development center, incubator , um, signature cohort at , um, at Georgia tech. Um, it's just been so exciting , uh, to see the growth , um, really meaningful growth of data Sears over the last four years and how you all are clearly addressing a real pain point that the, that the industry has. Yeah, yeah. So, yeah, I

Speaker 3:

Mean , uh , of course Tommy, we met at fintechs out and things have just fallen in place, I guess, for us, right. We had a very different approach than most companies these days would , uh, some people have even , uh, you know, called me saying that, you know, you are, you're the only one who is not doing what others are doing, which is raising funds. Right. We started organically. We said that we want to grow organically. Uh, we continue to grow organically, right. So I have a very, you know, I'd rather, we now have a very powerful story that we wouldn't be where we are if our product was not meaningful, if we were not solving some real world problems. And that's the only way we have built this. Uh, so of course, you know, the, the growth has been, you know, quite steady, slow and steady, which is what I personally prefer. I do not like the , uh , quick jump, quick rises and falls. Uh, and you know, all now I need to recruit 200 people. You know, you make mistakes. I , I personally believe that when that happens, you open the flood Gates, you know, there is some collateral damage. So we've been really careful. And in bringing the resources on, obviously this year has been great for us. Um, revenues continue to grow, clients, continue to keep getting added to the roaster . Uh , we are adding some C-level executives to the company. So all in all , uh, you know, we are about 35 people now. And then we just got off a phone call with the recruiter adding about 25 more jobs. So this is all organic growth , uh , which we are projecting between now and end of July, what going to need.

Speaker 5:

And I know you have your meaning, your kind of global headquarters there now for Retta . Yes . But I'm recalling an office in India as well. Is that still the case?

Speaker 3:

Yes, absolutely. We actually have an office here in Alpharetta , uh , an office in Mumbai. And , uh , we actually are seriously looking into, you know, other , uh , options as well, especially because of the pandemic, right. People are globally distributed, so it helps us , uh, you know, have jurisdiction or have people in different jurisdictions. So , uh, right now those are our two officers . Correct. But this year we'll probably add a couple more.

Speaker 5:

Um, so talk about like specifically what data Sears offers , um , the , the various products and services. Sure.

Speaker 3:

So if you looked at the payments industry in the fast five to 10 years, like it obviously has exploded, but so has the data that comes with it. And that data is what is literally telling you what's wrong. So think about it this way. And you go to doctor, he takes the blood out, analyzes that and tells you something's wrong with you or not. So that's basically data, right? It's the lifeblood of every organization. And as this industry has exploded , uh, you know, bad actors have taken advantage of , uh, the fact that people do not have systems in place that can watch this data and get, just look at last year, right? If you look at the unemployment fraud that hit multiple status, public news, it's over a billion dollars, right. And if you look at it out , even PPP , uh, the losses are over a billion dollars, right? What has happened is that's because people don't look at data holistically, they look at it very specific and , and from a narrow vision. So when they onboard a customer, you know , they're just looking at basic things to just skirt by, or get by what I'm a law or legal perspective, but then they don't do all these checks that later on, come and bite them. Right. So that's why we started saying that we were the ones that would provide you a holistic view of the customer, right? From the point of onboarding ongoing and account closure. So we are in a better position to be like, literally, you know, the satellite that watches you no matter where you go, right at a very, very microscopic level, but also at a macroscopic level and connecting all those dots is what has started making a lot of sense. And people are now starting to realize that that's what we need.

Speaker 4:

So what kind of companies, you know, do you usually service with these? Is it smaller companies or larger companies?

Speaker 3:

That's, that's a great question. Um, uh, Ansley, I think anybody that is, you know, in the payments space, whether it's a bank, whether it's a small FinTech, whether it's somebody that's starting up , needs to think about the strategy for compliance and fraud, way ahead of time. Most of the times people will say, well, I don't have fraud. I only had 10 transactions, you know, in the of fraud fraud in the last one month, that number changes dynamically, right? It changes so fast. And when it hits you, it hits you so hard that you don't know what happened. So I would say that just like, you have to have your corporate documentation for the companies. You have to have your insurance, you have to have a very good fraud and compliance software because that's literally what quote, unquote keeps you out of jail, right. Because if you do something bad and it's shown that systematically bad things have happened, that leads to serious trouble. And most people don't think about it. They only do that when it's needed. Right. That's like saying that I'm never going to see a doctor unless I'm about to die. Well, he can't do anything it's too late.

Speaker 4:

Yeah. I actually just took , um, an information securities class. So we kind of touched into all of this and, you know, it really shows you how important it is, you know, set up beforehand. Cause once it's happening, it can get out of control really fast and it can completely ruin your company if you're not careful.

Speaker 5:

Absolutely. I guess, drilling into that a bit more. Um, uh, Dwayne , like when I think about fraud and banking and fraud and payments, it's it , I guess at a baseline, I got a bad actor. That's looking to scam somebody to

Speaker 2:

Take their money of the individual, or I've got a bad actor looking to take money from the financial institution in some way. Um, and so it's like, okay, how do I get the bad actors out of my ecosystem? Or how do I keep them away? How do I block them? Right. Um , you , you mentioned onboarding, which , um, and when I hear that word, I think of, again, multiple dimensions, I've got , uh, I got, I got retail clients that want to create accounts with banks. Let's say we just want to set up a checking account. They want to set up a savings account. They want to get alone . They want to get a credit card , uh, or I've got small businesses that want to do all those things. Or I've got middle-market businesses want to do all this . He's like all that's like , right. That's how I think of onboarding and then there's this, but then there's also this ongoing, like I've got , uh , I now have an account and I'm beginning to transact. I'm using my debit card. I'm a small business owner. I'm using my debit card to buy stuff. And , um, there's opportunities, I should say, I guess, to , to , to create fraud and prevent fraud , uh , in kind of both of those settings. When I think of data seekers , I kind of think about you operating in both, all of these different , um, um, examples , um, to have that, right?

Speaker 3:

Yes . Yes. You do Tommy, because our theory is , uh, I'll , I'll put it in very simplistic terms. I'd always say this, that, you know , think about a house. You have the best security system, you have the locks and all of that, but if you let a teeth in through the front door, it's already too late, he's going to steal something. Right. So onboarding is extremely important. And as you have to do what you got to do in order to make sure that the bad guys don't get it now, because we know that, you know, the fraudsters are way smarter than we are. Uh, they somehow find a way in. So of course you have to have the ongoing saying that I got the best gatekeeper. Uh , but I know some people may slip in. So I got to have my cameras. I got to have all the alarms motion detectors and so on and so forth. It's the same thing applies in financial services. So then you're going to say, okay, this is a , a 40 year old from a client that is transacting in a way that is very different. Uh , it does not jive with his identity and his transactions look more like a 20 year old from Switzerland, right. So, you know, you have to put that correlation together and then see that is he really committing fraud. And , and just to also tell you, right, the type of fraud we look for starts with identity, it's money laundering , it's drug trafficking, it's human trafficking. So it starts with identity. We have not looking for somebody who just picked your pocket and, you know, took your credit card and just used it somewhere for buying a $500 TV. This is much more serious , uh, you know, financial crimes actually, that, that we are going after in terms of data like money money-laundering right. So that's a , that's a very terrorism financing right after January 6th, you know, we all know what happened, but can that data be correlated with, Oh , you're going out and saying, I'm going to do an act of terror and here is money deposited in your bank account, you know, can I put that one-on-one together saying, Oh, there is

Speaker 2:

Problem . Um, Ansley, like in this InfoSec course that you were doing was the, was the fraud discussion, a meaningful part of the course, like where some of these topics, like how preventing money laundering, terrorist financing, et cetera, did those components ,

Speaker 4:

It was necessarily specific to, you know, like find tech kind of applications, but, you know, we really delved into different types of fraud , um, different types of just attacks . And it really has been eyeopening. And I know, you know, especially with, COVID like, you've been seeing a lot of paths going on. I know like several people , um, that I'm close to have had like their bank accounts hacked . And then , um, someone I know about like their entire identity stolen recently, and, you know, as of like this week, at least I know it's really affecting Atlanta with the colonial pipeline getting hot. So it , it really is, you know, the whole East coast is out of gas actually . And I know in Atlanta, like it's just been insane. Um, so it really, I guess kind of that class really made me aware of different , um, ways to protect yourself in different ways. Packers can attack and gain access to your information. Um, and it's just, it's so important and it's really becoming are extremely relevant issue, especially as we're seeing everything move towards everything being online and just kind of the ways different attacks can really impact like, you know, how the colonial pipeline is impacting the entire East coast. Cause they got hacked .

Speaker 2:

Yeah, I do. I, when , when clients choose data's heres is there, are you finding that there's like one or two things that they really focus in on like that really put you over the top versus other offerings?

Speaker 3:

Yeah, yeah. It , it , it really does. Right. And so it goes back into the DNA of how this product was built from ground up. Uh, we saw problems on the operational side of payments , right? So when people, when we go into an organization or a FinTech , uh, they have point tools, they will have one tool that just does one thing. They have another tool that just does another thing and so on and so forth. Whereas we went in and we said, okay, dump all of your data right into this application, do not worry about it. And we will actually do big brother on it, right. And say, okay, this is connected to here is connected to here. And, you know, thanks to the technology that we use, which was invented and open source by Lexus nexus, that HPCC systems, that's literally what powers the entire identity solution at Lexus nexus , which is HPCC systems. So we use similar technology . So that makes a big difference because you know, you may have a credit card account over here. You may have a checking account, a you just got a NSF, which is, you know , not sufficient funds on your checking account, which basically means that something's going wrong. You haven't gotten your paycheck in your account in last two weeks, which potentially means you're unemployed. And then you go somewhere else and apply for a credit card that is going to look at your credit history. And they're going to say, Oh, he has a great credit history. I'll give him a credit card, but they don't realize that you don't have money in your bank and you lost your job. Right? So that data is not correlated anywhere. Right? So risk management, very specifically fraud and risk management compliance, which is rec deck having the oversight and having the ability to pull reports for the auditors to show them, we are doing our job is key, but nobody has a solution that is so, you know, length , breadth, and depth of everything. We literally had a vendor, a new client, a comparison against 17 vendors and ultimately chose us. Uh , and he said that the only reason why they chose us, that they couldn't find anybody even remotely close to the strength of all of this data, they would take some very small piece and do something small, but overall they don't have a data strategy, right? So that's what we bring to the table. We bring governments, data strategy, and one place, one solution for them all, whether it's API driven, whether it is real time , batch doesn't matter. And that's what is a key differentiator, right? That you can onboard, you can do the ongoing stuff. You can file your reports with FinCEN and all of that in one place. So it's become like a think of it as become like a Salesforce, right. For, for this industry where all of this is integrated really well within, under one roof. Right.

Speaker 4:

Have there been any noticeable cases of fraud that , um, you prevented or caught on to that have just been really kind of crazy?

Speaker 3:

Uh , the answer is yes. We all, of course find a lot of issues in the data. Uh, and you know, that's part of our job , uh , because I will tell you very honestly, that people are, you know, there's two types of people that are like really stupid people out there who do some really stupid stuff and get caught. And then there are really sophisticated people who do some really sophisticated stuff that even you sit there and think ha like that one beats me. Right. And so yes we have, and it , the funniest we get to learn every day, because like I said, you know , the fraudsters are coming up with new techniques to steal money all the time. So we're always going to play, catch up with them. Right. The question is, how close can I get to them? Right. I know I can be in front of them or ahead of them. So I got to be so close as possible. So I need to catch them as soon as I can. So it's, it's fun.

Speaker 2:

Yeah. This sophistication is a little bit mind-blowing to me and very scary. It is unbelievable. You mentioned the colonial pipeline thing that like we're in the middle of right now, but I was, I was really , um, kind of frightened by the , there , I think it was NPR did like an expo day on dark side, which is this, I mean, it's essentially , um, it's like fraud , um, security breach, ING as a service. I mean, it's like a SAS platform. And so if you just like, I think I'd like to be a bad actor. I'm not sure what to do. You go enroll in this SAS platform. I mean, it's like, it's like, it's like Salesforce for fraudsters. It's crazy. It's

Speaker 3:

And kids don't do this at home, but you know, if you , uh, if you go to tour , you can actually start buying data. You can say, I want to buy data for males between 55 and 65 living in this geography. I want to make sure that they are at least verified against 10 known sources and they have this, this, this information. And you can by age, date of birth, right. Uh , SSNs passports , driver's license, number three is a whole like , uh, like Alexis nexus , other dark side that people are using now to sell that information. Right. It's it's ridiculous.

Speaker 2:

Also, do we, can you just talk a little bit about synthetic fraud? Um , cause to me that's also been a really kind of also frightening, but very interesting development maybe of the last, I don't know, three years or so, where, where these bad actors will take one little piece of like maybe real data, but then use that and create a full synthetic profile and then go start applying for accounts. And it all looks very legit. Absolutely.

Speaker 3:

And I will give you a very funny example of a friend of ours, Tommy , uh, grant Wayne Scott Wright told me a story that grant has a dog. And apparently , uh , that dog was , uh, you know, invited to be on some kind of a movie shooting somewhere. Right. And , uh, so he did that. And then, you know, I guess they own the dog 500 bucks . And I think they sent a check in the dog's name right. To grant because somebody's doing AP , uh , back in the back office, didn't realize that this was not a real person. Right. And so they sent a check. Now what would happen in that typical case is, and I don't know what exactly happened, but let's just use that as an example and see how synthetic entities get created. So let's say ad walks into his bank account who the banker obviously knows him. He's well in the industry, you know the joke about it. It's like, look at these guys. You know, they sent me a check in the name of my dog. You know, the Penner says, you know what, don't worry about it. I will deposit it as long as the issuer doesn't dispute it because that's the only way the check wouldn't go through. They only go into this deposited in your account, right? It's up to the teller. So that checks get deposited. That name gets scanned into the system that it was named against that person that ends up creating a smaller entity somewhere. It shows up in the database somewhere later, right? That's just the very simplest way to start. Uh, you know, other ways of creating a synthetic entity is get , go get a secure credit card. And some of these people have taught this through for 10, 15, 20 years. They started creating these synthetic entities way back in the day , uh, knowing that they will go to commit fraud in the future, which is like, this is what beats me. So when you try to look at some of those entities, everything will turn out that it's right. You know, and everything adds up yet. There are synthetic entity, but see that's where people like Lexus come into play. Right? They put all this relation, correlated data together. They say that, yes, this person has, you know, a social security number. They have an address. They have all of that. But in the last 20 years, he has never gotten a traffic ticket. I don't see a registration against the DMV. I don't see any driver's license issued by them. I don't see a rental history. I don't see a purchase history, no marriage and divorce records. And so they kind of look at all of this data and say, Oh , on a scale of one to 10, you know, maybe it's like a seven with a synthetic identity, but I'm almost sure that he doesn't or he, she is isn't that I got entity. So that's how these systems work. And they're very sophisticated. It's a major problem in EKG . And it still exists in certain jurisdictions, especially where it's hard to gather data, right?

Speaker 2:

Yeah. Well, this is exactly , um , why we need, why we need you to do it . Why the industry, why the industry needs you? Um, well I want to begin to wrap up a bit and as our listeners, now , we like to take the last part of the show to talk about interesting FinTech news. That's caught our attention in the last week. Uh, Ansley , I'll let you start. What , how about you? What's caught your team ?

Speaker 4:

Um, one of the things that caught my attention was city group starting to open up cryptocurrency for their customers.

Speaker 2:

Yeah, this is, I saw that announcement and I guess I viewed it as city kind of joining up with many of their peers. Uh , we've seen similar announcements in the last quarter from Goldman Sachs Morgan Stanley state street bank in New York. Um, and this , uh, there there's, there's been some greater, I guess, regulatory, maybe willingness support might be a too strong , stronger word still , um, to , to see these banks , uh, even custom holding custody of cryptocurrency on behalf of customers. And I think the banks are just responding to their clients and their clients are like, we need these services from you. You're our financial services provider. Please provide , uh, Dwayne , how about you? Anything caught your attention? Yeah.

Speaker 3:

Yeah. The big Mamet , uh, fintechs, right? PayPal, this square, it just keeps getting bigger and bigger and bigger by the day. Uh, Venmo, PayPal has Venmo square as cash app and it's just the fight for who's going to be the biggest baddest of them all they're reporting so much profit. I mean, they're just like touching, touching, just like minting money. It's become like a printing press of money. And of course these, these are now starting to want to get a bank charters. Right. So square bought their loan charter. Uh , what is next? They're probably going to go for the deposit charter. Right. So then most of these fintechs are going to try and become banks and then it's going to be very interesting. So I just keep following the news of, you know, how, how they make a humongous impact and then others are catching up right behind them, you know, the Robin or of the world right there . They're getting there. So it's going to be very interesting to watch what happens more .

Speaker 2:

Yeah. Yeah. These quarterly reports have been eye-popping um, in particular, I think it was the square one in particular, there was a meaningful amount of profit driven by the fact that they were accepting Bitcoin and transacting a fifth point with clients

Speaker 3:

11 times higher than last year or something. It was like two or 2 billion or something like that. I don't know, crazy numbers .

Speaker 2:

Uh, you know, and then today the Bitcoin markets crashing today. Um, last night Tesla said they get a full one 80 and said they weren't going to take Bitcoin for payment anymore. Um, after announcing they would like three weeks ago. And so , um, that's had a very negative impact on the crypto markets. And then I'm always curious, I'm like, okay. So has like PayPal cashed out on what they reported or was that like a Mark to Mark value that they put in the, you know, the quarterly report? I don't know . I haven't just, haven't gotten into read all of the details of how they're managing it. Um, from my standpoint , uh, meaningful local news , uh, headquartered company , uh , global payments headquartered here, multi-billion dollar massive FinTech player. Um, certainly the biggest FinTech headquartered here in Atlanta, they announced their largest acquisition , uh, since the acquisition of total systems about a , of a, of a year and a half or so ago. Um, just in the past week, it's a company called Xofigo. Um, it was a $925 million deal , uh , zygotes . They do resident experience management solutions for property managers. So of course property managers are taking payments. Um, and so, and I guess industry speak us , refer to those as payment facilitators. Uh, and so this obviously, you know, kind of clear synergy and a way for global to even more , um, substantively enter that , um , that segment of the marketplace that vertical, that property management vertical in a meaningful way. So that was exciting news. Um, it's a , you know, always great to see these , uh , companies headquartered here continuing to grow in meaningful ways. Well Ansley , uh, Dwayne, thanks for being with us today. It's great to have you Ansley . Can't wait to hear how the internship goes this summer with FIS. Uh, Dwayne, you are always welcome at the Georgia FinTech Academy. Our door is open for you , uh, and we look forward to having you involved in some of our events here in that school year.

Speaker 5:

Thank you, Tommy VR recruiting. So I will take your students.

Speaker 2:

Yes. Yeah. Great. Yeah. Good plug important plug. Uh, we, we, we will make that happen.

Speaker 5:

Thank you. Yeah . Thank you so much, Tommy ,

Speaker 1:

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