Richard Frost joins us and shares what he’s looking for in
automation. "I’m looking for three things, really. We've got to be
able to afford the technology, so it could be the best in the
world, but if we can't afford it ultimately ... So a lot of vendors
come in cheap and then start ramping up. So we got down to some
really hard negotiations on that one. Secondly, are they a
match for us, are they ten times our size and then they will just
walk all over us? When we want to start working with them, will
they send in the B team once the sale has been made? So we found
that Colfax are large, they're larger than us, but we've worked
with them on other technologies for a few years now and we've had a
fairly good relationship with them so felt that they would be a
good match for us as a smaller bank in the U.K. And then
finally, the functionality. They have the robotic process
automation, they've got the BPM technology as well and some of the
stuff around the side in terms of scanning, which is where they
came from, working with paper electronically and electronic
signature. They've got that as well. So it kind of made sense as a
good fit for us."