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Apr 20, 2018

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."