But looking at it from a realistic, pragmatic point of view, what problems are they genuinely solving for corporates and financial institutions today? Where are you seeing the practical value?

Yeah, no, thanks, Eleanor.

And thank you for hosting this session.

Maybe if I just take a step back and think about our client base and the client base that my team is particularly focused on, which is the financial institution space.

What's happened in the last few years is, I guess, client expectations for things like speed, transparency, access have increased, right? And banks have tried to keep up with those needs.

But we found new sources of competition come in from the fintech space.

When we think about our client base, we think about banks.

So where are you seeing meaningful applications of things like agentic AI emerging in treasury and payments influencing decision making, etc.? ?

Mm

... uh, different.

Uh, it's a big region, right? So, uh, y- you know, uh, there's quite a bit of diversity within, within Asia.

But if I just take it back to our business, right, and kind of what we do for, for clients, um, yeah, y- you know, there's a, there's a fair bit of fragmentation around the world, but more so in Asia.

So each market, um, we have a presence in, so as I say, we're in 12 markets.

Um, each of those markets has separate clearing rails, regulatory standards, you know, documentation requirements, um, FX controls, and, um, you know, and that represents complexity.

Uh, in Europe it's, uh, it's a lot more homogeneous, I'd say.

Mm-hmm.