WEBVTT

1
00:00:00.120 --> 00:00:07.639
I'm Chris Karragio, NBC News Radio, NBC News on CACAA Lomolada, sponsored

2
00:00:07.639 --> 00:00:13.080
by Teamsters Local nineteen thirty two,
protecting the future of working Families Teamsters nineteen

3
00:00:13.160 --> 00:00:22.480
thirty two dot org. The information
economy has a ride. The world is

4
00:00:22.600 --> 00:00:28.800
teeming with innovation as new business models
reinvent every industry industry. Inside Analysis is

5
00:00:28.839 --> 00:00:33.719
your source of information and insights about
how to make the most of this exciting

6
00:00:33.799 --> 00:00:39.039
new era. Learn more at Inside
analysis dot Comsideanalysis dot com. And now

7
00:00:39.280 --> 00:00:48.159
here's your host, Eric Kavanaugh.
Yes, oh yes, folks, Hello,

8
00:00:48.200 --> 00:00:51.479
and welcome back once again to the
only coast to coast radio show that's

9
00:00:51.520 --> 00:00:56.039
all about the information economy. It's
yours truly, Eric Kavanaugh on Inside Analysis,

10
00:00:56.039 --> 00:01:00.520
and we're going to talk today about
a very interesting partnership between two companies,

11
00:01:00.560 --> 00:01:04.640
Crimson Logic and MasterCard, all about
payments and the payments industry, making

12
00:01:04.719 --> 00:01:08.480
it easier to deal with fees that
you have to pay the government, maybe

13
00:01:08.480 --> 00:01:12.480
for your passport or maybe for some
report that you want or whatever you want

14
00:01:12.519 --> 00:01:17.280
to do, basically just making it
easier. So we'll be talking to Melvin

15
00:01:17.480 --> 00:01:21.840
Xavier from Crimson Logic and Our good
buddy Eugene Burke from Digital Strategies Group is

16
00:01:21.879 --> 00:01:23.480
here as well. He's got a
lot of experience in the banking industry.

17
00:01:23.840 --> 00:01:26.040
So we'll talk about that, and
I'll just say a couple of words up

18
00:01:26.079 --> 00:01:32.680
front. It's really fun to watch
the innovation in the fintech space. There

19
00:01:32.760 --> 00:01:37.519
is tremendous innovation, and that's good
for the consumers. I used to work

20
00:01:37.560 --> 00:01:42.359
at a bank in nineteen and eighty
eight, I think, no longer than

21
00:01:42.400 --> 00:01:45.319
that, nineteen eighty five and eighty
six I worked at a bank. I

22
00:01:45.319 --> 00:01:49.640
can still remember the keystrokes black,
five, red, tea, now account,

23
00:01:49.920 --> 00:01:52.920
enter in the account number and take
the money out, et cetera.

24
00:01:53.120 --> 00:01:56.640
Done the whole thing. And way
back then, I mean it costs money

25
00:01:56.760 --> 00:02:00.079
to go check your balance for example, I mean they were that were associated

26
00:02:00.120 --> 00:02:05.359
with everything transferring money. Think about
Western Union, right, they made a

27
00:02:05.359 --> 00:02:07.560
lot of their money transferring money from
one place to another, and they took

28
00:02:07.599 --> 00:02:12.319
a little service charge twenty five bucks, twenty bucks whatever it was. Well,

29
00:02:12.319 --> 00:02:15.080
now with Venmo or zell or any
number of other systems, you could

30
00:02:15.120 --> 00:02:20.599
just being send money instantaneously. Now
under the hood, there are a bunch

31
00:02:20.639 --> 00:02:23.599
of different things that have to happen
to make sure that's all done correctly.

32
00:02:23.879 --> 00:02:27.919
And that's one thing I do love
about the tech space in financial services is

33
00:02:28.039 --> 00:02:31.240
you gotta be bulletproof. I mean, banks are not known to lose money.

34
00:02:31.759 --> 00:02:36.680
Everyone who's played Monopoly knows that fun
card bank era in your favor collect

35
00:02:36.879 --> 00:02:39.639
like two hundred dollars or something that
doesn't happen very often. Banks don't make

36
00:02:39.680 --> 00:02:43.960
that mistake very often, and when
they do make mistakes, well, as

37
00:02:44.000 --> 00:02:46.680
long as you got an audit trail, you can track it down. But

38
00:02:46.080 --> 00:02:50.759
the payments space is white hot.
There are lots of great things you can

39
00:02:50.800 --> 00:02:53.280
do these days, much more easily
than you used to be able to do.

40
00:02:53.520 --> 00:02:54.960
And like I say, that's good
for consumers, it's good for everyone.

41
00:02:55.360 --> 00:03:00.319
And in this new partnership, Crimson
Logic based in Singapore, I do

42
00:03:00.400 --> 00:03:04.360
believe, is partnering up with MasterCard
and they're going to really do some very

43
00:03:04.360 --> 00:03:08.039
clever work around integrating these environments and
making it much easier to pay for government

44
00:03:08.159 --> 00:03:13.360
services and much easier for the governments
to track where the money came from,

45
00:03:13.719 --> 00:03:15.560
who spent it on what, and
all these fun things to make sure they're

46
00:03:15.560 --> 00:03:20.319
doing their jobs. So with that, let me bring in Melvin Xavior from

47
00:03:20.360 --> 00:03:23.120
Crimson Logic. Melvin, welcome to
the show. Thanks for dialing in at

48
00:03:23.159 --> 00:03:27.319
four o'clock in the morning your time. You're a dedicated consultant out there.

49
00:03:27.400 --> 00:03:30.439
Tell us a bit about yourself and
Crimson Logic and what this partnership is all

50
00:03:30.439 --> 00:03:36.120
about. All right, thanks Eric
for having me here for this show.

51
00:03:36.879 --> 00:03:40.199
Well, my name is Crimson Logic. I worked in Singapore. This is

52
00:03:40.199 --> 00:03:46.240
where our headquarters is. We are
a company which was started in the year

53
00:03:46.319 --> 00:03:52.520
nineteen eighty eight. We have about
thirty five years of experience digitizing digitally transforming

54
00:03:52.879 --> 00:03:57.800
government organizations worldwide. Our home base
is in Singapore. We do quite a

55
00:03:57.800 --> 00:04:00.759
lot of work club in Singapore government, but that doesn't stop us here.

56
00:04:00.840 --> 00:04:06.319
We have expanded globally. We have
offices in over twenty countries. We have

57
00:04:06.400 --> 00:04:15.639
done projects across forty countries. Most
of them are nationwide critical systems starting from

58
00:04:15.759 --> 00:04:19.800
trade, to government, to judiciary
and so on. So with this new

59
00:04:19.839 --> 00:04:28.439
partnership that we have with master Card, we are hoping to take the government

60
00:04:28.560 --> 00:04:35.759
services which involves in payments, collections, dispersements of subsidies to the next level.

61
00:04:36.199 --> 00:04:42.399
So in terms of government being able
to pay the members of the public

62
00:04:42.720 --> 00:04:46.759
who are beneficiaries of certain schemes,
giving the ability for the members of the

63
00:04:46.759 --> 00:04:51.120
public to be able to have a
single platform where they would be able to

64
00:04:51.160 --> 00:04:58.959
see all the subsidy programs that are
available, allowing the government to evaluate all

65
00:04:59.000 --> 00:05:03.079
the applications that they come they receive
from the members, and also to have

66
00:05:03.399 --> 00:05:12.160
some sort of automated capabilities to allocate
funds. And then subsequently the actual dispersement

67
00:05:12.240 --> 00:05:17.920
itself and government money which is given
to people have certain TNCs that people are

68
00:05:17.959 --> 00:05:24.079
supposed to the two. So that's
where mastercut comes in. They allow the

69
00:05:24.120 --> 00:05:27.920
people to take the money out,
spend the money for what it is to

70
00:05:27.959 --> 00:05:31.959
be spent for, provide their ability
for the governments track the funding, track

71
00:05:32.040 --> 00:05:36.399
the spending, and then it goes
back into the system. It's a feedback

72
00:05:36.439 --> 00:05:41.079
loop, so the government goes back
into their analysis to figure out whether they

73
00:05:41.079 --> 00:05:44.319
have done the right job, whether
people who are in need have got the

74
00:05:44.360 --> 00:05:47.120
money. So that's more from the
dismerscement angle. From the payment angle,

75
00:05:47.839 --> 00:05:54.839
again, governments want to simplify the
payments for the services that we be subscribed

76
00:05:55.040 --> 00:05:59.240
from the government. It could be
utilities, it could be public services,

77
00:05:59.279 --> 00:06:05.319
civic service. So this capability that
we have with a MasterCard allows the governments

78
00:06:05.360 --> 00:06:10.720
as well as the members of the
public to have one single suite of systems

79
00:06:10.759 --> 00:06:15.879
integrated together and offer to them.
Yeah, and that's a single source of

80
00:06:15.959 --> 00:06:19.680
truth, if you will. That's
very powerful. It's good both for the

81
00:06:19.720 --> 00:06:25.000
consumers and also for the government to
have a marshaling area where all the information

82
00:06:25.120 --> 00:06:28.879
is going to be processed and stored. So from the consumer perspective, it's

83
00:06:28.920 --> 00:06:31.680
easy to come in, get to
the services that you're looking for, be

84
00:06:31.720 --> 00:06:36.480
able to quickly apply, put in
whatever information is necessary, and then fairly

85
00:06:36.519 --> 00:06:41.959
easily get your money. Right.
I'm sure they probably connect their checking accounts

86
00:06:42.000 --> 00:06:45.480
or some other kind of account to
that system. And then from the government

87
00:06:45.600 --> 00:06:49.160
side, it's great to have a
partner like MasterCard that can pull all this

88
00:06:49.319 --> 00:06:55.279
data together. I'm guessing it's delivered
mostly by API, and so again you

89
00:06:55.399 --> 00:06:59.160
have a nice clean audit trail.
And it's also very good, which you

90
00:06:59.199 --> 00:07:01.920
were kind of implying for reporting an
analysis, right, to be able to

91
00:07:02.160 --> 00:07:05.839
do some analysis of the data and
understand did things work the way we wanted

92
00:07:05.839 --> 00:07:09.360
them to work? Are we getting
the people the right, money they're supposed

93
00:07:09.360 --> 00:07:12.519
to get. All that kind of
fun stuff is really enabled by this kind

94
00:07:12.519 --> 00:07:16.519
of very tight partnership, right right, you're right. It also addresses the

95
00:07:16.639 --> 00:07:23.360
unbanked population in many of the developing
countries, where with this partnership, people

96
00:07:23.399 --> 00:07:26.639
really don't have to go and apply
for a bank account and then come back

97
00:07:26.680 --> 00:07:30.800
to the government declare that this is
my bank account. And it also avoids

98
00:07:30.759 --> 00:07:36.920
people from misusing the capabilities and facilities
that are provided by the government. One

99
00:07:36.959 --> 00:07:43.959
beneficiary doesn't get benefited from two different
schemes which are not supposed to be availed

100
00:07:44.000 --> 00:07:49.399
at the time, so that there
are many revenue leakage subsidiary leakage prevention that

101
00:07:49.879 --> 00:07:55.079
can be put in place with this
consolidated platform. Well, you know,

102
00:07:55.240 --> 00:07:58.360
and you're picking up on something that
was a really big deal here in the

103
00:07:58.439 --> 00:08:01.600
United States, especially Calca, but
also I'm sure other countries too, which

104
00:08:01.759 --> 00:08:07.839
was COVID relief money. And apparently
there were just a tremendous number of bad

105
00:08:07.879 --> 00:08:13.199
actors jumping on the bandwagon and siphoning
off millions I think tens of millions of

106
00:08:13.240 --> 00:08:18.639
dollars in the case of California,
and a solution like what you are working

107
00:08:18.680 --> 00:08:22.839
on with MasterCard, and the Government
of Singapore and other governments really addresses that,

108
00:08:24.000 --> 00:08:26.560
right, So it gives you a
safeguard, so you at least have

109
00:08:26.360 --> 00:08:31.920
another essentially wall of security around the
money to make sure, Hey, is

110
00:08:31.959 --> 00:08:35.200
this person who they say they are? Should we really be giving this money?

111
00:08:35.440 --> 00:08:37.000
I'm talking. I think it was
tens of millions of dollars. I'll

112
00:08:37.000 --> 00:08:41.360
look it up while we're on this
call today. But that's a nice value

113
00:08:41.399 --> 00:08:45.159
add for the government and for the
taxpayers too, right, because when people

114
00:08:45.240 --> 00:08:48.120
rip off the government, they basically
rip off every single person who paid taxes

115
00:08:48.120 --> 00:08:54.240
to that government. What do you
think That's exactly right, So it's all

116
00:08:54.279 --> 00:09:00.919
about being able to deliver the support
for the right individuals are qualified. So

117
00:09:00.960 --> 00:09:05.399
there's I mean, as you rightly
pointed out, the issue is with the

118
00:09:05.559 --> 00:09:09.879
discustment side as well. Right,
So when the money is there with the

119
00:09:09.919 --> 00:09:13.919
government, when there's a fund allocated
by the federal or the local or the

120
00:09:13.960 --> 00:09:20.159
state, the governments usually struggle in
determining who needs to basically be paid and

121
00:09:20.200 --> 00:09:24.240
how much is that amount that need
to be paid, So there's a lot

122
00:09:24.240 --> 00:09:28.840
of paperwork that needs to go in, which also kind of pays this whole

123
00:09:28.879 --> 00:09:33.320
process, people are not able to
get the money on the right time.

124
00:09:33.919 --> 00:09:37.639
They have to probably queue up and
apply for it online and wait for days

125
00:09:37.679 --> 00:09:43.559
and months to to get the money. So this entire integrated platform actually solves

126
00:09:43.600 --> 00:09:50.000
few problems. Problem number one could
be the visibility accessibility getting to know what

127
00:09:50.039 --> 00:09:52.960
services are available for the members of
the public to subscribe to. So the

128
00:09:52.960 --> 00:09:58.799
problem number two could be the government
being able to evaluate test whether the means

129
00:09:58.840 --> 00:10:03.559
and it's out in place for people
to avail these benefits. Three is the

130
00:10:03.639 --> 00:10:07.080
dispersement. Four is the control on
the dispersed money, whether they are using

131
00:10:07.120 --> 00:10:11.840
this money for the right reasons.
If it's given for buying stationary for children

132
00:10:11.840 --> 00:10:16.080
who go to school and universities,
they're being actually used to buy stationary.

133
00:10:16.559 --> 00:10:22.320
So MasterCard comes in with they are
powerful network of payment terminals across the world

134
00:10:22.600 --> 00:10:28.720
where they can potentially block card payments
which have for subsidy money inside from being

135
00:10:28.720 --> 00:10:35.000
misused and then subsequently again as I
said previouslyeed goes back into the feedback feedback

136
00:10:35.039 --> 00:10:37.559
loop where the government can actually evaluate
whether the money is being spent for the

137
00:10:37.600 --> 00:10:41.159
right reasons or not. Yeah,
that's right, Well, let me bring

138
00:10:41.200 --> 00:10:43.159
in a Eugene Burke from Digital Strategies
Group to comment on this, and I

139
00:10:43.159 --> 00:10:46.639
just looked it up quickly. It
was thirty billion dollars, so tens of

140
00:10:46.759 --> 00:10:52.039
billions of dollions, not tens of
millions, billions. A million times one

141
00:10:52.039 --> 00:10:58.200
thousand is a billion, and we're
talking. It's just it's embarrassing, honestly,

142
00:10:58.840 --> 00:11:00.879
you know, to lose that much
money, and like I say,

143
00:11:00.960 --> 00:11:03.360
every taxpayer feels that into some small
degree. But Eugene, you've got a

144
00:11:03.360 --> 00:11:07.720
lot of experience in the banking world, so you know the rigor necessary to

145
00:11:07.919 --> 00:11:13.279
put together solutions, the security hurdles, to clear, architectural hurdles to clear

146
00:11:13.399 --> 00:11:18.000
you have to dot every single I, cross every single te and be very

147
00:11:18.039 --> 00:11:24.120
patient. Right you do. And
interesting that the master Card network is a

148
00:11:24.279 --> 00:11:30.919
very very highly developed mature payments network. So I'm curious in the three areas

149
00:11:30.919 --> 00:11:37.120
that you outline, so visibility to
the services, eligibility testing and disbursement monitoring

150
00:11:37.960 --> 00:11:46.879
the second. The second and third
are interesting that Crimson is bringing capabilities to

151
00:11:46.039 --> 00:11:54.519
master Card that they found really attractive. Can you elaborate on capability either in

152
00:11:54.679 --> 00:12:00.919
eligibility testing or disbursement monitoring that you're
adding to the Microsoft network, but not

153
00:12:01.279 --> 00:12:07.519
the master Card network. All right. So when at the time of crisis,

154
00:12:07.600 --> 00:12:11.639
let's take COVID for an example,
there was this sudden search of need

155
00:12:13.440 --> 00:12:18.720
in terms of assistance to be provided, governments had to intervene and then there's

156
00:12:18.799 --> 00:12:24.759
an emergency purpose that needs to be
put in place, which which requires people

157
00:12:24.799 --> 00:12:28.600
to be helped at that moment.
So that's where we are all talking about,

158
00:12:28.679 --> 00:12:31.919
right. So the thirty billion dollars
or the multi billion dollar that every

159
00:12:31.960 --> 00:12:37.360
other country went through in terms of
providing eight so the governments actually have challenges

160
00:12:37.360 --> 00:12:41.360
getting the services or getting these subsidy
programs to the members of the public.

161
00:12:41.440 --> 00:12:46.960
So in an online world, in
a digital world, it doesn't actually cut

162
00:12:46.960 --> 00:12:50.840
it out by just going online and
publishing the service, but then you don't

163
00:12:50.879 --> 00:12:56.720
allow people to apply for it.
You don't have the mechanisms to quickly have

164
00:12:56.919 --> 00:13:03.200
them to subscribe to those services.
That's the part of the visibility issue that

165
00:13:03.519 --> 00:13:05.960
we are trying to solve here.
So if we can provide the governments with

166
00:13:07.080 --> 00:13:11.000
the tool with the capability where with
the click of a button they are able

167
00:13:11.039 --> 00:13:16.240
to publish a scheme and all the
information that needs to go along with it

168
00:13:15.960 --> 00:13:18.960
is configurable, so they don't really
have to go to the developers program it,

169
00:13:20.919 --> 00:13:24.759
they don't have to have the wizards
created to capture the information in terms

170
00:13:24.840 --> 00:13:31.399
of the data points that they need
from the applicants. And most importantly in

171
00:13:31.919 --> 00:13:35.480
country Lexingapore, where we don't really
have to tell many things to the government

172
00:13:35.480 --> 00:13:41.399
about ourselves, the government actually knows
quite a lot about us, our identity

173
00:13:41.440 --> 00:13:46.240
information, our economic status and so
on. So we are all talking about

174
00:13:46.879 --> 00:13:50.639
allowing people to apply for it.
Why should people apply for it? Why

175
00:13:50.639 --> 00:13:56.879
can't the government determine automatically and then
distribute this without me asking the government?

176
00:13:56.960 --> 00:14:01.679
So that is the next paradigm shift
that we are trying to help governments achieve.

177
00:14:01.200 --> 00:14:05.879
And of course there's a lot of
emphasis on privacy, a lot of

178
00:14:05.919 --> 00:14:11.919
emphasis on security. Once you have
a bundled package that we can take this

179
00:14:11.120 --> 00:14:15.519
forward. So that's in terms of
the eligibility check and all that. So

180
00:14:16.279 --> 00:14:20.840
moving to the dispersement angle, most
of the governments have two challenges that we

181
00:14:20.919 --> 00:14:26.279
have seen. One is the ability
for them to be contradent that the money

182
00:14:26.279 --> 00:14:30.240
that they are giving to people is
being spent for the reason for the right

183
00:14:30.279 --> 00:14:33.519
reasons. What it is meant for. As I previously quoted, one of

184
00:14:33.559 --> 00:14:41.639
the Asian countries having challenges controlling the
money that is being given to children to

185
00:14:41.720 --> 00:14:46.039
buy stationary by books pay for their
transport. But they also have challenges that

186
00:14:46.120 --> 00:14:50.279
children should not be misusing this money
that is given to them. How do

187
00:14:50.320 --> 00:14:56.240
we control the spending that the government
has given So that's the controlling in the

188
00:14:56.279 --> 00:15:01.200
spending part. The second major problem
is governments. Usually we try to avoid

189
00:15:01.679 --> 00:15:07.879
or try to control this by issuing
special purpose tokens as we would call it,

190
00:15:09.000 --> 00:15:11.320
or it's a voucher, or it's
a token, or it's some sort

191
00:15:11.320 --> 00:15:16.879
of a closed loop payment system that
only works with people who have come into

192
00:15:16.919 --> 00:15:22.879
that network of accepting those type of
payments. So if it's a voucher,

193
00:15:22.000 --> 00:15:26.519
then you need to look for a
merchant who has a mechanism for them to

194
00:15:26.559 --> 00:15:28.519
accept the voucher for a service that
they provide to the members of the public,

195
00:15:28.840 --> 00:15:33.240
and then they have a challenge of
going back to the government and claiming

196
00:15:33.279 --> 00:15:37.600
that money from the government. So
master cut comes into play where they have

197
00:15:37.879 --> 00:15:43.919
this vast network of payment terminals,
they are able to use the classifications that

198
00:15:43.960 --> 00:15:50.159
they have about shops about establishments,
and they're able to put all this digitally

199
00:15:50.480 --> 00:15:52.399
in place with a click of a
button. So those are some of the

200
00:15:52.480 --> 00:15:58.279
values that we think we can bring
forward to the government with this partnership.

201
00:16:00.440 --> 00:16:06.080
Good stuff, And as Eugene mentioned, the MasterCard network is already very mature

202
00:16:06.080 --> 00:16:08.399
and very robust, and of course
you guys have been doing this stuff for

203
00:16:08.399 --> 00:16:14.320
about thirty five years now. So
connecting those two environments, obviously it does

204
00:16:14.399 --> 00:16:18.600
take some effort and some work,
but I'm guessing that you obviously have a

205
00:16:18.639 --> 00:16:21.279
lot of expertise in that space.
Can you talk at all about how you

206
00:16:21.279 --> 00:16:22.679
bring these two systems together. We've
got about a minute and a half for

207
00:16:22.759 --> 00:16:27.320
the break. Go ahead, all
right. So from a technology point of

208
00:16:27.399 --> 00:16:34.000
view, MasterCard is a well matured
company with a lot of emphasis on APIs,

209
00:16:34.039 --> 00:16:40.159
interoperatibility and so on. They already
have the products which are digital in

210
00:16:40.240 --> 00:16:45.440
nature that allows cross border integration with
other parts of the world and so on.

211
00:16:45.519 --> 00:16:48.600
So we have been developing products with
the same thought process in mind.

212
00:16:48.600 --> 00:16:55.519
Because our systems cannot work independently previously
from a traditional mindset, our systems have

213
00:16:55.559 --> 00:17:00.559
to integrate with other government organization systems
through APIs and all that. So fundamental

214
00:17:00.600 --> 00:17:06.759
linking between these two diverse products which
are required to be put together are through

215
00:17:06.799 --> 00:17:12.359
APIs with definite interoperability standards, with
PCI specifications and so on. So that's

216
00:17:12.400 --> 00:17:18.559
that's how these two systems come together
in terms of information exchange. Yeah,

217
00:17:18.599 --> 00:17:21.480
that's pretty good stuff. And you
know, once again, folks, we're

218
00:17:21.480 --> 00:17:26.200
talking about how MasterCard is now in
a partnership with Crimson Logic working with governments

219
00:17:26.200 --> 00:17:30.000
around the world, including Singapore,
to really tie this all together. And

220
00:17:30.680 --> 00:17:36.039
you know, anyone who has ever
worked in government services knows there are lots

221
00:17:36.079 --> 00:17:38.680
of different systems. It can be
very difficult to integrate all this stuff.

222
00:17:38.720 --> 00:17:42.960
So to have this marshaling area where
you have an audit trail that's very clear,

223
00:17:44.240 --> 00:17:47.720
where you have reporting and analytics that
you can run, it's very very

224
00:17:47.799 --> 00:17:51.759
useful and it saves money, it
saves time, it saves quality, it

225
00:17:51.960 --> 00:17:55.319
ensures that the programs are doing what
they're supposed to be doing. So there's

226
00:17:55.319 --> 00:17:59.359
really just a long list of benefits
for having this kind of public private partnership,

227
00:17:59.599 --> 00:18:02.720
and that's what you want to see. You want to see organizations working

228
00:18:02.759 --> 00:18:07.240
with the government transparently building out these
systems to where we can all see and

229
00:18:07.279 --> 00:18:10.480
then the consumers can log in,
the citizens can see what's going on,

230
00:18:10.519 --> 00:18:12.599
they can get their money easier,
faster. That's all good stuff. Don't

231
00:18:12.640 --> 00:18:22.319
touch dot got folks would be right
back. You're listening to Inside Analysis.

232
00:18:23.920 --> 00:18:33.079
Welcome back to Inside Analysis. Here's
your host, Eric Tavanaugh. All right,

233
00:18:33.119 --> 00:18:34.960
folks, take us to the future. Indeed, your host Eric Kapernick

234
00:18:36.000 --> 00:18:40.880
here on Inside Analysis. We're talking
today with Melvin Xavier of Crimson Logic and

235
00:18:40.920 --> 00:18:45.240
Eugene Burke of Digital Strategies Group,
all about payments, getting your money on

236
00:18:45.319 --> 00:18:48.319
time. You know, I was
talking earlier about my early days in the

237
00:18:48.359 --> 00:18:51.799
banking industry, and it used to
take a while for a check to clear.

238
00:18:51.839 --> 00:18:53.079
It used to take like five,
you know, three to five business

239
00:18:53.160 --> 00:18:56.599
days for check to clear, and
then it was three days, and then

240
00:18:56.640 --> 00:18:59.240
it was a couple of days.
And it's getting faster and faster. And

241
00:18:59.240 --> 00:19:03.279
now we have course ach transactions,
and we have wire transfers and all these

242
00:19:03.319 --> 00:19:07.759
things. And next up we want
to dive into international payments, paying from

243
00:19:07.839 --> 00:19:11.720
one country to another because obviously you
got all sorts of rules and regulations that

244
00:19:11.759 --> 00:19:15.240
come into play, and you want
to be able to track that stuff,

245
00:19:15.319 --> 00:19:18.359
especially large amounts of money going from
one country to another. You got to

246
00:19:18.359 --> 00:19:22.680
wonder about that, and then you
have things like sanctions to be upheld and

247
00:19:22.000 --> 00:19:25.440
to worry about. Of course,
you've got wars going on all over the

248
00:19:25.440 --> 00:19:29.759
planet right now, which is really
unfortunate and quite tragic. And then a

249
00:19:29.799 --> 00:19:33.279
lot of times you get sanctions associated
with bad behavior. So how do you

250
00:19:33.400 --> 00:19:37.559
enforce those sanctions. Well, we
have the swift banking network, but I

251
00:19:37.599 --> 00:19:41.119
do recall that in the beginning of
the Ukraine War, there was all this

252
00:19:41.200 --> 00:19:45.680
talk about Russia just going off our
system and saying, fine, the heck

253
00:19:45.759 --> 00:19:47.920
with you, I'll just do it
some other way. And of course they've

254
00:19:47.960 --> 00:19:51.799
got other countries going along with them, so that's another challenge. But I'll

255
00:19:51.799 --> 00:19:56.400
throw it over to Melvin to talk
about this being able to handle cross border

256
00:19:56.480 --> 00:20:00.599
payments. That's important stuff because you've
got you follow the rules and regulations of

257
00:20:00.640 --> 00:20:07.240
the target company or the target country
and the source country right right. So

258
00:20:07.319 --> 00:20:11.920
when it comes to cross border trade, there's been a lot of emphasis on

259
00:20:11.079 --> 00:20:18.039
moving information from one location to the
other location. The whole idea of trade

260
00:20:18.119 --> 00:20:22.519
is to move goods, right,
So from modern location to the other location.

261
00:20:22.799 --> 00:20:26.240
It might be for manufacturing, it
might be for consumption, or it

262
00:20:26.319 --> 00:20:30.319
might be for many other reasons like
transhipment and so on. But what about

263
00:20:30.319 --> 00:20:34.000
the data that has to move along
with this shipment. Traditionally, the data

264
00:20:34.079 --> 00:20:41.839
for shipments have been sent over through
in a very traditional sense careers or mails,

265
00:20:41.960 --> 00:20:47.200
or sometimes it's hand carried by people
from one location to the other location

266
00:20:47.279 --> 00:20:52.119
if it's within the country. So
crimso Logic has an advanced cross border platform

267
00:20:52.480 --> 00:20:57.759
which allows traders across the world,
sitting in two different locations, be able

268
00:20:57.839 --> 00:21:04.640
to have this information transfer this information
from the shipper to the receiver. So

269
00:21:06.480 --> 00:21:10.920
when it comes to moving cargo or
goods from one country to the other country,

270
00:21:11.039 --> 00:21:15.279
the country where it is exported have
certain regulations that you need to adhere

271
00:21:15.319 --> 00:21:19.640
to as a shipper and as a
consumer or as a receiver. The recipient

272
00:21:19.680 --> 00:21:25.240
country also has certain regulations in terms
of import. And in between these two

273
00:21:25.519 --> 00:21:30.279
different characters you have the fundshipment countries. Because cargoes just don't jump from one

274
00:21:30.319 --> 00:21:33.519
location and then land in the other
location. It has to move through the

275
00:21:33.559 --> 00:21:37.759
sea route or through the air route, or maybe it is a land route

276
00:21:37.759 --> 00:21:41.160
if it's in Africa for that matter, and it has to go through multiple

277
00:21:41.960 --> 00:21:45.720
stop points or checkpoints, so along
the way there's an essential need for this

278
00:21:45.799 --> 00:21:52.640
information to be transferred. So we
have perfected the capability to allow these traders

279
00:21:52.680 --> 00:21:56.200
to move this data from one location
to the other location in an online world

280
00:21:56.519 --> 00:22:03.160
and allow them to file this information
to the destination country or get clearances from

281
00:22:03.200 --> 00:22:08.240
the source country then or at least
get the in principle not from the transhipment

282
00:22:08.240 --> 00:22:11.960
countries to allow this cargo to flow
through. So that's from the cargo flow

283
00:22:12.039 --> 00:22:17.960
movement point of view. Then what
happens to the money the shipper needs to

284
00:22:18.039 --> 00:22:22.960
pay the receiver. The receiver needs
to pay the duties for the government that

285
00:22:22.039 --> 00:22:26.799
they have to owe for the for
the goods to be imported into the country.

286
00:22:26.960 --> 00:22:30.079
So there's a lot of money involved, but there's no automation. As

287
00:22:30.079 --> 00:22:36.519
we see people still use very traditional
ways of being using wire transfers, they're

288
00:22:36.640 --> 00:22:41.440
using count deposits, they probably have
to have escrow accounts with the government where

289
00:22:41.440 --> 00:22:45.839
there's a bulk of amount that is
blocked as a security. So there's a

290
00:22:45.880 --> 00:22:52.039
lot of trust gaps that has arised
out of this, and of course we

291
00:22:52.079 --> 00:22:56.119
have the banking system. The bankers
help with letters of credit and the trade

292
00:22:56.160 --> 00:23:02.599
financing part, but those are not
link back to this trade ecosystem. So

293
00:23:02.640 --> 00:23:04.880
what we are trying to do with
master Card is, let's say a shipper

294
00:23:04.920 --> 00:23:11.920
wants to send a piece of cargo
that's costing them about one hundred dollars and

295
00:23:12.160 --> 00:23:15.759
it needs to be sent from one
to one country to the AAA to B

296
00:23:17.440 --> 00:23:22.599
and at the recipient side, the
receiver from the B has to pay the

297
00:23:22.759 --> 00:23:26.599
person a and there's a lot of
intertwining letters of credit, some sort of

298
00:23:26.640 --> 00:23:30.640
a guarantee if you don't pay me
after I receive who's going to be held

299
00:23:30.680 --> 00:23:34.759
responsible? So we are trying to
automate all this with the movement of the

300
00:23:34.839 --> 00:23:42.319
good. So the entire process of
releasing funds, releasing partial funds based on

301
00:23:42.720 --> 00:23:48.599
certain stages of the life cycle are
all automated, and at both the sides

302
00:23:48.640 --> 00:23:52.799
you need to have a payment partner, and so somebody has to pay someone

303
00:23:52.920 --> 00:23:56.559
and it has to go through a
payment system. So MasterCard nicely comes into

304
00:23:56.559 --> 00:24:00.000
play where they are able to automate
this entire process with agrations that we have

305
00:24:00.119 --> 00:24:04.480
established with them from the trade system, so that largely kind of you know,

306
00:24:04.559 --> 00:24:08.839
summarizes this entire ecosystem. Yeah,
and real quick. You know,

307
00:24:08.880 --> 00:24:14.559
one thing I've noticed is that phones, mobile devices have a different profile and

308
00:24:14.559 --> 00:24:18.720
are treated very differently from laptops and
desktop computers, et cetera. And you're

309
00:24:18.759 --> 00:24:22.480
seeing some real innovation in the insurance
space. I think the company is Lemonade

310
00:24:22.920 --> 00:24:26.359
maybe where everything gets done. It's
it's like for insurance for cars and things

311
00:24:26.400 --> 00:24:30.640
like this, and everything is done
on the phone because of course you got

312
00:24:30.640 --> 00:24:33.440
geolocation data, you have the signature
of the device itself. Does that play

313
00:24:33.440 --> 00:24:37.400
into your logic for security and for
governance and kind of knowing who's who,

314
00:24:38.000 --> 00:24:42.279
being able to tell which phone it
is, you know what version of the

315
00:24:42.279 --> 00:24:45.960
phone, what operating system, all
that kind of stuff that comes into play

316
00:24:45.039 --> 00:24:52.039
right, right, So we do
have a mobile first thought process in developing

317
00:24:52.039 --> 00:24:57.799
solutions because people have people, especially
on the ground, like trade dealershippers,

318
00:24:57.839 --> 00:25:04.359
straightforward is have kind of started adopting
and appreciating the use of mobile phone factors.

319
00:25:04.440 --> 00:25:08.240
So the apps that we develop,
the systems that we develop are mostly

320
00:25:08.319 --> 00:25:11.640
mobile first, so we make sure
that it works in a mobile device.

321
00:25:11.720 --> 00:25:17.759
But that again comes with security because
we don't want somebody to take a mobile

322
00:25:17.759 --> 00:25:21.720
phone away and then then use that
for other purposes and so on. But

323
00:25:22.000 --> 00:25:25.960
lifting a big laptop or a computer
from an office is going to be much

324
00:25:26.000 --> 00:25:30.559
more challenging than just lifting up a
device that's like a very small piece of

325
00:25:30.640 --> 00:25:33.319
device. So we do have a
lot of telemetry data that we capture.

326
00:25:33.640 --> 00:25:38.640
The apps are secured by the trust
protection modules that are available within the devices,

327
00:25:38.720 --> 00:25:45.400
or we leverage on apples or Google's
capability to protect the apps that run

328
00:25:45.440 --> 00:25:49.200
within the devices from being accessed.
So there's a lot of digital identity comes

329
00:25:49.200 --> 00:25:55.440
into play, whereas there's a national
authentication system provided by the local governments that

330
00:25:56.440 --> 00:26:00.440
gets integrated with the systems. So
what we are essentially talking thing is about

331
00:26:02.000 --> 00:26:08.039
the regulated space of usage where governments
have a strong emphasis on security, privacy

332
00:26:08.079 --> 00:26:14.160
and compliance. Mm hmm, yeah, I'm reminded of the keyfob. Right.

333
00:26:14.200 --> 00:26:15.640
The key fob comes along, Now
I can unlock my car from a

334
00:26:15.680 --> 00:26:21.279
distance, and it was hailed as
a security achievement or an innovation. But

335
00:26:21.319 --> 00:26:23.680
at the same time, if a
bag gets your keyfob, he or she

336
00:26:23.759 --> 00:26:26.480
get is a walk around the parking
lot clicking that thing until they find your

337
00:26:26.480 --> 00:26:30.880
car. So it's like these something
that seems to be helping security can actually

338
00:26:32.000 --> 00:26:33.960
hurt security. And of course you
guys have to think through all that stuff,

339
00:26:34.079 --> 00:26:37.519
right is all the different touch points, all the different checkpoints and these

340
00:26:37.599 --> 00:26:41.279
days, I mean security. Maybe
we could talk about that very quickly.

341
00:26:41.319 --> 00:26:45.519
Security is obviously very important when you're
talking about payments going from place to place.

342
00:26:45.880 --> 00:26:48.720
A friend of mine is a developer
and he worked for Salesforce for a

343
00:26:48.759 --> 00:26:52.839
while in a very special group where
they would deploy security artifacts into the system.

344
00:26:53.279 --> 00:26:56.720
And now you can kind of see
this in websites. It takes a

345
00:26:56.759 --> 00:26:59.759
little bit longer to log into your
bank, you know, sometimes you'll get

346
00:26:59.799 --> 00:27:03.079
like an extra step, like a
capture something to get through, and the

347
00:27:03.119 --> 00:27:07.240
reason is because they're trying to keep
this completely secure. Air Tide. Isn't

348
00:27:07.240 --> 00:27:10.839
that right, Melvine? Yes,
yes, that is right. So in

349
00:27:11.079 --> 00:27:15.920
terms of security, uh, there's
there's few dimensions on how we can look

350
00:27:15.960 --> 00:27:19.440
at it. Transactional security, data
security, and then comes the privacy part

351
00:27:19.480 --> 00:27:25.359
of it. How securely is the
information about me kept by the by the

352
00:27:25.400 --> 00:27:27.240
system? Whoever it could be.
It could be master Card, it could

353
00:27:27.240 --> 00:27:30.799
be crimson logic, it could be
the government themselves, so there are different

354
00:27:32.440 --> 00:27:37.640
uh. Over the last few years, the emphasis emphasis on security has kind

355
00:27:37.640 --> 00:27:44.000
of increased as the mainstream understanding on
how information needs to be protected. So

356
00:27:44.039 --> 00:27:48.640
the governments all over the world are
working very closely with partners like Crimson Logic,

357
00:27:48.759 --> 00:27:53.359
like MasterCard to put in place controls, put in place methods and mechanisms

358
00:27:53.400 --> 00:27:59.960
that protect the information of individuals.
And it can be at the transactional level,

359
00:28:00.119 --> 00:28:06.119
as you rightly pointed out, stopping
people from gaining access to certain systems

360
00:28:06.160 --> 00:28:10.039
on behalf of someone who should not
buy right happen. So that's why the

361
00:28:10.039 --> 00:28:15.200
biometric the leverage on the biometric capabilities
of today's mobile phones come into play.

362
00:28:15.640 --> 00:28:19.920
Of course, we don't have access
to the biometric signature of the individuals,

363
00:28:19.960 --> 00:28:25.000
but we rely on people like Apple, people like Google to provide us with

364
00:28:25.200 --> 00:28:29.920
the validations that are necessarily in place. Then comes to service side security.

365
00:28:29.960 --> 00:28:33.880
Then you have the communications security.
That's why the capture comes into play and

366
00:28:34.119 --> 00:28:40.119
all the standards that we need to
adhere to isms the ISO twenty seven thousand

367
00:28:40.119 --> 00:28:44.960
and one. They are very strict
protocols. And a shift that we see

368
00:28:45.119 --> 00:28:49.400
in the area of privacy is every
country has come up with their own privacy

369
00:28:49.440 --> 00:28:55.279
locks, and every country have their
own privacy commission data Protection commission, and

370
00:28:55.400 --> 00:29:03.720
those commissions are largely sharing well documented, concrete guidelines that are expected to be

371
00:29:03.759 --> 00:29:07.680
adopted, followed, complied to,
and audited. So there's a lot of

372
00:29:07.759 --> 00:29:11.880
protocols that need to be done.
And most of this learning is coming from

373
00:29:11.920 --> 00:29:17.279
the banking space, is coming from
the military space, and governments are learning

374
00:29:17.279 --> 00:29:22.200
from each other and then trying to
make things more stronger in terms of securing

375
00:29:22.200 --> 00:29:25.839
the information. Yeah, and real
quick before I hand it over to Eugene.

376
00:29:26.039 --> 00:29:30.119
One thing that really excites me about
policy in the nexus of policy and

377
00:29:30.240 --> 00:29:34.880
artificial intelligence and systems design and management
is that we're getting very close to,

378
00:29:36.519 --> 00:29:38.880
thanks to chat, GPT and some
of these other AI engines, to be

379
00:29:38.920 --> 00:29:45.559
able to interpret policy written policy in
different languages and map that to code.

380
00:29:45.920 --> 00:29:48.200
We're not quite there yet, I
think, but it's very close to being

381
00:29:48.200 --> 00:29:55.319
able to take a policy from a
government and map that over to Python or

382
00:29:55.440 --> 00:29:57.960
C sharp or C plus plus or
whatever the case may be. Are you

383
00:29:59.000 --> 00:30:04.640
folks playing around that up yet and
what do you think about that? So

384
00:30:04.400 --> 00:30:11.160
there are two paths to it,
enabling governments to use AI and also protecting

385
00:30:11.200 --> 00:30:15.400
governments and their systems from the misuse
of AI. So it's quite easy for

386
00:30:15.480 --> 00:30:21.279
people to now go to chat rept
or Bard and ask a specific question and

387
00:30:21.759 --> 00:30:27.000
then Bard and chart Rept can give
pretty much good answers to certain questions that

388
00:30:27.279 --> 00:30:33.200
probably people might take a few years
for them to learn through self reading,

389
00:30:33.279 --> 00:30:36.160
through self teaching and so on and
so forth. So if I say,

390
00:30:36.200 --> 00:30:38.640
I want to write a piece of
code to hack a system, and I

391
00:30:38.640 --> 00:30:41.200
can just go to chat rept and
ask for it to generate the code,

392
00:30:41.240 --> 00:30:45.200
and it can just you know,
chenderate the code out of the blow and

393
00:30:45.240 --> 00:30:49.640
then put it into vulnerability and then
try to exploit the vulnerability that is their

394
00:30:49.720 --> 00:30:55.279
So so the vulnerability part of it
is protected. So the difference mechanisms that

395
00:30:55.680 --> 00:31:00.119
are currently in place are also appreciating
the use, so they are trying to

396
00:31:00.400 --> 00:31:07.759
uh play against the antagonists with the
same capability the antagonists is trying to exploit

397
00:31:07.079 --> 00:31:11.440
the vulnerabilities that that probably are there
in the system. So that's from the

398
00:31:11.440 --> 00:31:17.400
security part of it. In terms
of the usage of AI in public policy,

399
00:31:17.839 --> 00:31:22.599
a usage of AI in government services, there's a lot of appreciation for

400
00:31:22.680 --> 00:31:27.519
the government uh to to use AI
to to help them provide services to the

401
00:31:27.640 --> 00:31:33.079
to their subjects in a much faster, much efficient way. We do foresee

402
00:31:33.839 --> 00:31:37.000
the governments all over the world may
not be at the right form, at

403
00:31:37.000 --> 00:31:40.680
the right shape, have difference of
opinion in adopting AI. So there was

404
00:31:40.680 --> 00:31:45.880
this interesting conversation that I was having
having with one of the government organizations in

405
00:31:45.920 --> 00:31:51.279
the world about how just justified is
AI going to be in terms of determining

406
00:31:51.319 --> 00:31:55.400
who I need to serve? Would
there be prejudice, would that be a

407
00:31:55.440 --> 00:32:02.400
buyers, Would the AI programs be
trained in the right manner to see the

408
00:32:02.440 --> 00:32:06.920
service delivery with the right optics,
and so on and so forth. So

409
00:32:07.000 --> 00:32:09.759
there's a lot of research, a
lot of uncovering that needs to be done

410
00:32:10.079 --> 00:32:15.400
in the usage of AI, especially
with public policy making, but we have

411
00:32:15.519 --> 00:32:21.400
seen a lot of headway being achieved
already by certain governments. Cool you,

412
00:32:21.480 --> 00:32:22.680
Gmaily, got two minutes left,
but I'll let you take over the next

413
00:32:22.720 --> 00:32:30.960
segment. Take it away. The
area where a lot of innovation and there's

414
00:32:30.000 --> 00:32:37.720
frankly a need is personal data protection
and protecting people's zone of privacy and how

415
00:32:37.759 --> 00:32:43.319
different that is in every country and
so in the next segment, I'd be

416
00:32:43.400 --> 00:32:49.359
really interested to see how if you're
doing cross border payment processing government to government,

417
00:32:49.799 --> 00:32:55.079
government contractor to government across the world, you're managing so many different privacy

418
00:32:55.119 --> 00:33:02.079
regimes. I'd be curious to see
how you're approaching that. Sure in terms

419
00:33:02.119 --> 00:33:07.039
of privacy as as you have said, as we have discussed earlier, there

420
00:33:07.039 --> 00:33:13.759
are different regimes that usually governments try
to apply to and these regimes are are

421
00:33:13.880 --> 00:33:19.640
kind of very similar, but they
have their own nuances because of various various

422
00:33:19.759 --> 00:33:25.039
variables that come into play in terms
of culture, in terms of the fundamental

423
00:33:25.079 --> 00:33:30.640
constitution of the country. If they
are more liberal, they're more capitalists,

424
00:33:30.640 --> 00:33:36.000
are they more democratic? So there
are different dimensions that come into play into

425
00:33:36.039 --> 00:33:40.279
how governments look at privacy or personal
data. So the Europeans have a different

426
00:33:40.920 --> 00:33:49.039
understanding and interpretation of privacy the Continental
United States, Canada have their own version,

427
00:33:49.799 --> 00:33:53.240
Singapore has our own versions. So
when it comes to moving data across

428
00:33:53.359 --> 00:33:59.559
various systems, we rely on the
party partners, like the cloud service providers.

429
00:33:59.680 --> 00:34:04.839
Most of the cloud service providers,
even though they have this notion of

430
00:34:04.880 --> 00:34:10.039
cloud, they do have certain adherances
that they need to comply to another the

431
00:34:10.119 --> 00:34:13.480
level. Yeah, no doubt about
it. Let's pick that up after the

432
00:34:13.519 --> 00:34:16.920
break, folks, Fascinating conversations today
with Crimson Logic about a master Guard partnership.

433
00:34:16.960 --> 00:34:28.480
Or we'll be right back. You're
listening to Inside Analysis. Welcome back

434
00:34:28.519 --> 00:34:36.360
to Inside Analysis. Here's your host, Eric Tabanac. All right, folks,

435
00:34:36.360 --> 00:34:39.960
back here on Inside Analysis talking to
Melvin Xavier from Crimson Logic and Eugene

436
00:34:40.119 --> 00:34:45.760
Burke from Digital Strategies Group, talking
all about this partnership between Crimson Logic and

437
00:34:45.800 --> 00:34:49.559
MasterCard making it easier to pay the
piper, as I say, but not

438
00:34:49.719 --> 00:34:53.159
just pay the piper, really also
do analysis to reporting, business intelligence,

439
00:34:53.199 --> 00:34:57.400
all that fun stuff, have an
audit trail and be able to really manage

440
00:34:57.519 --> 00:35:01.039
the numbers and understand is the money
going to the right. And I sadly

441
00:35:01.079 --> 00:35:07.360
referenced the thirty billion dollars that's estimated
the California loss to fraud during the COVID

442
00:35:07.400 --> 00:35:10.719
relief programs and that's just embarrassing beyond
belief. And they were cross border too.

443
00:35:10.760 --> 00:35:15.599
There are people in Africa somehow scamming
the system in California. It's like,

444
00:35:15.920 --> 00:35:19.400
what kind of system did you put
in place that you can't tell you're

445
00:35:19.400 --> 00:35:23.480
being connected to from some other nation
moving money across the planet. I mean,

446
00:35:23.480 --> 00:35:29.199
that's just beyond belief. I think
it's beyond approach. But Melvin,

447
00:35:29.239 --> 00:35:32.880
you hinted at this whole concept of
shared responsibility, which refers to in the

448
00:35:32.880 --> 00:35:38.119
cloud computing environment, when some breach
or virus is the fault of the cloud

449
00:35:38.159 --> 00:35:43.360
computing company like Amazon or Microsoft or
Google, and when it's the fault of

450
00:35:43.719 --> 00:35:46.079
the tenant who is in that environment. And typically the line drawn, as

451
00:35:46.119 --> 00:35:50.039
I understand it, is that if
I have a virus in one of my

452
00:35:50.159 --> 00:35:54.079
systems that I allowed to get in
through some mistake or some hole in my

453
00:35:54.159 --> 00:35:59.719
security, that's my fault. But
if there's something on the infrastructure side that

454
00:35:59.719 --> 00:36:02.119
will allow this breach to happen or
that caused me some trouble, then it's

455
00:36:02.119 --> 00:36:07.800
the cloud provider's fault. But the
bottom line is cloud providers are really big

456
00:36:07.079 --> 00:36:10.639
and a lot of companies are pretty
small compared to that. So, you

457
00:36:10.679 --> 00:36:15.079
know, Eugene had a great story
about Capital One fighting them and winning,

458
00:36:15.400 --> 00:36:16.800
but a Capital One is a big
company, right, So what are your

459
00:36:16.800 --> 00:36:22.119
thoughts on the shared responsibility and where
do you draw that line? All?

460
00:36:22.239 --> 00:36:27.280
Right? So when it comes to
the government's governments space or the public service

461
00:36:27.320 --> 00:36:31.360
space, most of the governments have
very strict policies that they have put in

462
00:36:31.400 --> 00:36:37.480
place with the adoption of cloud infrastructure. So again, as you have said,

463
00:36:37.800 --> 00:36:43.519
from a small company to a big
company capital one being able to sue

464
00:36:43.559 --> 00:36:47.719
the CSPs. It also kind of
applies to the size of the country.

465
00:36:49.119 --> 00:36:52.079
So if you're looking at smaller countries
in the Pacific, in the Caribbean,

466
00:36:52.239 --> 00:36:57.480
or in the Oceanic regions, they
may not have the muscles to go up

467
00:36:57.559 --> 00:37:01.840
against such a big that was providers. So they are very conservative in nature,

468
00:37:01.920 --> 00:37:06.199
so they don't really appreciate the use
of cloud. They try to host

469
00:37:06.320 --> 00:37:10.119
the systems within their own in house
data centers. So there's this version of

470
00:37:10.119 --> 00:37:14.840
public cloud, private cloud, and
so on and so forth. Countries like

471
00:37:14.920 --> 00:37:21.079
the US, Europe, Singapore have
demanded the CSPs to carve out their entire

472
00:37:21.079 --> 00:37:25.440
cloud infrastructure to be locally placed and
with controls in place. So for example,

473
00:37:25.480 --> 00:37:30.800
for that matter, in Singapore,
there's a version of AWS, GCP

474
00:37:30.159 --> 00:37:35.920
and azure that is available for the
Singapore government organizations to subscribe to. So

475
00:37:35.920 --> 00:37:38.760
that's what we call it as the
government Commercial cloud. Now, the government

476
00:37:38.760 --> 00:37:44.599
commercial cloud has very strict controls that
are put in place that are very specific

477
00:37:44.599 --> 00:37:49.800
to Singapore. So, as I
previously said in the previous segment about the

478
00:37:50.039 --> 00:37:53.639
culture, the different variables that come
into the interpretation of privacy, interpretation of

479
00:37:53.639 --> 00:38:00.119
security is kind of taken into consideration
when the CSPs are asked to have the

480
00:38:00.239 --> 00:38:06.239
data reside within the country and and
and its own terms, the country's terms

481
00:38:06.239 --> 00:38:10.119
and the country's security requirements. So
then then the next thing comes This is

482
00:38:10.119 --> 00:38:15.239
from the prevention point of view,
what happens after the event has record,

483
00:38:15.639 --> 00:38:19.840
when when there's a vulnerability exploited or
whatever it is, that that's where the

484
00:38:19.840 --> 00:38:23.159
investigation comes into play. The common
understanding that we have in the market is

485
00:38:24.280 --> 00:38:30.079
if my application that runs in a
cloud environment, and if I leverage on

486
00:38:30.239 --> 00:38:32.199
a run time that is provided by
the cloud environment. It could be at

487
00:38:32.239 --> 00:38:37.000
a virtual level, it could be
at application logical level, it could be

488
00:38:37.000 --> 00:38:42.599
at any level. And if my
application has resulted in the vulnerability to be

489
00:38:42.760 --> 00:38:47.559
exposed to the to the Internet or
to the to the exploitation and so I

490
00:38:47.599 --> 00:38:53.639
take responsibility for it. So it's
very clear thanks to many of the incidents

491
00:38:53.639 --> 00:38:58.400
that have happened over the last many
years with the cloud service providers. There's

492
00:38:58.400 --> 00:39:01.920
a there's a common understanding that is
kind of coming to some level of maturity

493
00:39:02.000 --> 00:39:08.400
for professionals to treat each other professionally
and then have some sort of mitigation plan

494
00:39:08.480 --> 00:39:13.760
in place to protect those issues from
happening. So that's how I see things

495
00:39:13.800 --> 00:39:17.239
are being done in this area.
Yeah, it helps to have policy.

496
00:39:17.320 --> 00:39:21.360
I'll throw this over to Eugene.
To have policy and then to be able

497
00:39:21.360 --> 00:39:28.199
to demonstrate to auditors and regulators and
government entities and your colleagues how that policy

498
00:39:28.280 --> 00:39:30.840
is implemented. And as long as
you have something like that in place,

499
00:39:30.920 --> 00:39:32.440
you should be pretty you should be
pretty well off. But what do you

500
00:39:32.440 --> 00:39:42.800
think, Eugene. Yeah, So
Singapore has a well earned reputation of because

501
00:39:42.800 --> 00:39:47.719
of its history having an extraordinarily well
run government, and that is not the

502
00:39:47.760 --> 00:39:52.639
case around its own region, and
it's certainly not the case in other parts

503
00:39:52.639 --> 00:40:00.039
of the world. And having the
Singaporean perspective on how do we ru go

504
00:40:00.199 --> 00:40:05.400
out government payment schemes in the good
sense of the word scheme, because it

505
00:40:05.400 --> 00:40:12.880
shouldn't be boiling the ocean every time
is a It's an interesting market offering because

506
00:40:13.719 --> 00:40:17.679
it shouldn't require reinventing the wheel every
time, every time, every time,

507
00:40:17.800 --> 00:40:23.280
because there should be a fairly well
understood recipe that we can just execute.

508
00:40:23.360 --> 00:40:32.519
And it's a welcome thought because if
you pair what Crimson can do with its

509
00:40:32.519 --> 00:40:38.599
system security and understanding cross border payments
with the reach and breadth of master Card,

510
00:40:38.719 --> 00:40:44.760
you've got something pretty interesting. Yeah, what do you think about that,

511
00:40:45.559 --> 00:40:47.559
say, or Melvin, I'll throw
it over to you, all right.

512
00:40:47.599 --> 00:40:52.280
I mean that's a very good perspective
that the Eugene has brought up.

513
00:40:52.519 --> 00:40:55.920
So it's a recipe, right,
So you have a recipe to cook something,

514
00:40:57.000 --> 00:41:01.599
and the contextualizing or the localized seeing
part of it is more of the

515
00:41:01.760 --> 00:41:06.719
ingredients that go into the recipe.
The recipe largely remains the same, but

516
00:41:06.920 --> 00:41:12.960
where we have seen the recipe needs
customization or needs localization that we have done

517
00:41:13.039 --> 00:41:15.679
in other parts of the world.
So we do have projects in the Latin

518
00:41:15.719 --> 00:41:21.360
American region Caribbean closer to the continental
United States. We do have a cross

519
00:41:21.360 --> 00:41:25.039
border facilitation that we do between the
US and Canada. But if we take

520
00:41:25.079 --> 00:41:29.599
the recipe that is identical to what
we have done in Singapore, in other

521
00:41:29.639 --> 00:41:31.960
parts of the world to that part
of the world, it doesn't really work.

522
00:41:32.639 --> 00:41:37.199
So there's a lot of customization that
we need to do, but the

523
00:41:37.239 --> 00:41:42.039
recipe largely remains the same. So
understanding from the best practices that we have.

524
00:41:42.400 --> 00:41:45.320
I mean, Singapore has one of
the best digital ID platforms in the

525
00:41:45.360 --> 00:41:49.960
world. We were the pioneers and
rolling out one of the world's first filing

526
00:41:50.000 --> 00:41:54.920
systems, one of the world's first
trade facilitation platforms. So a lot of

527
00:41:55.039 --> 00:42:00.639
such systems are in use today across
the world. Taking reference to taking the

528
00:42:00.760 --> 00:42:06.920
learnings from what we have done in
Singapore, if you take the case in

529
00:42:07.000 --> 00:42:12.719
point comes logic, we have been
quite successful in deliving the recipe that we

530
00:42:12.800 --> 00:42:16.320
have created in Singapore for many of
our Singapore public government organizations of public service

531
00:42:16.360 --> 00:42:21.960
organizations to other parts of the world, be it in the developing part as

532
00:42:21.960 --> 00:42:25.880
well as in the developed part of
the of the geography. Mm hmm.

533
00:42:27.400 --> 00:42:30.239
And it's good stuff. And maybe
for the podcast Bonus Segmal, we'll dig

534
00:42:30.239 --> 00:42:35.679
deeper into trade because you talk about
this even your tagline right, simpler trade,

535
00:42:35.760 --> 00:42:38.679
smarter tech, trade gets very complicated. You have all sorts of bill

536
00:42:38.719 --> 00:42:42.760
of goods, you've got erp systems
that have to come into place to be

537
00:42:42.760 --> 00:42:45.960
able to manage all this supply chain
stuff. Of course, we saw post

538
00:42:46.000 --> 00:42:51.119
COVID and even pre COVID quite frankly
in the last administration here in the US,

539
00:42:51.159 --> 00:42:55.119
we had these levees and Taro's placed
on goods from China, so we

540
00:42:55.239 --> 00:43:00.320
had some advanced warning that there is
going to be some disruption to supply chains.

541
00:43:00.679 --> 00:43:04.159
And you folks are pretty strong in
that area as well. Hence your

542
00:43:04.159 --> 00:43:07.639
focus on trade. Right, you
have to understand building materials and supply chains

543
00:43:07.679 --> 00:43:12.280
and going back and forth within these
systems as pretty complex stuff. Just talk

544
00:43:12.400 --> 00:43:16.239
very quickly about that, all right. So Krinso Logic has its genesis from

545
00:43:16.280 --> 00:43:22.920
building the world's first trade facilitation system, and that was in Singapore. So

546
00:43:22.039 --> 00:43:27.280
I mean, this is something that
the likes of United Nations World Bank have

547
00:43:27.400 --> 00:43:30.719
given us the credit of having done. So. So when it comes to

548
00:43:30.760 --> 00:43:37.360
cross border movement of data, and
as a company who's majorly owned by one

549
00:43:37.360 --> 00:43:43.599
of the world's largest port operators PSAU, PSA operates the Singapore port. Likewise,

550
00:43:43.639 --> 00:43:46.840
they operate a large pots in the
Europe, in the US and so

551
00:43:46.920 --> 00:43:53.679
on, so our focus has been
pretty much aligned with our primary shareholder on

552
00:43:55.239 --> 00:44:00.480
digitalizing and digitally transforming the trade area
of the business. So there are two

553
00:44:00.519 --> 00:44:05.559
parts to the trade business. One
is the merchant to merchants supply to supplier.

554
00:44:06.199 --> 00:44:08.320
We call that as a B to
B the business to business segment of

555
00:44:08.719 --> 00:44:14.480
the complexities that arise out of information
sharing between the ERP systems, and you

556
00:44:14.559 --> 00:44:20.960
have market players like sap Ariba,
Sales Falls and all the likes who provide

557
00:44:20.960 --> 00:44:25.599
some level of facilitation of organizations to
work between each other. Where there are

558
00:44:25.760 --> 00:44:30.840
invoice systems that are in place,
there's a people standard and so on and

559
00:44:30.840 --> 00:44:34.239
so forth. But when it comes
to the government, there's a lot of

560
00:44:34.840 --> 00:44:42.480
lacked in terms of inter government intra
government operatability, which is where our companies

561
00:44:42.519 --> 00:44:46.199
like Crimsologic come into play. We
facilitate the movement of data between the private

562
00:44:46.320 --> 00:44:52.440
people who are on the private space
they are ERP systems, integrate them with

563
00:44:52.719 --> 00:44:55.599
a mediator or a middleman like Crimson
Logic, and then we take this data

564
00:44:55.679 --> 00:45:00.119
to the government. So we have
around seventeen notes across the world. We

565
00:45:00.239 --> 00:45:04.280
directly integrate with the government systems to
push the data in. Yeah, that's

566
00:45:04.320 --> 00:45:07.519
great stuff. Well, folks will
die more in the podcast bonus segment into

567
00:45:07.559 --> 00:45:10.360
all that. But what a fascinating
conversation today with Melvin Xavier from Crimson Logic

568
00:45:10.400 --> 00:45:16.960
and of course Eugene Burke of Digital
Strategies. You were listening to Inside Analysis.

569
00:45:19.119 --> 00:45:21.800
All right, folks, time for
the podcast bonus segment. Here on

570
00:45:21.880 --> 00:45:25.039
Inside Analysis, We've been talking to
Melvin Xavier from Crimson Logic and our good

571
00:45:25.079 --> 00:45:30.079
buddy Eugene Burke from Digital Strategies Group. And Melvin, I was getting all

572
00:45:30.079 --> 00:45:35.079
excited thinking about trade and you were
mentioning something very interesting that Crimson Logic built

573
00:45:35.079 --> 00:45:38.280
the first I guess trade system,
and this is really important. You know

574
00:45:38.360 --> 00:45:43.760
what gets me excited about is transparency
and numbers, right, because there's all

575
00:45:43.760 --> 00:45:46.079
sorts of shenanigans that go on in
the world, and if one country ships

576
00:45:46.079 --> 00:45:49.559
a bunch of stuff to another country. Of course, we have arms shipments

577
00:45:49.559 --> 00:45:52.159
that we have to watch out for
these days, but even products and goods

578
00:45:52.880 --> 00:45:55.760
like food stuffs and things of this
nature. It helps to know how much

579
00:45:55.880 --> 00:45:59.440
is out there and how much is
coming in and being able to kind of

580
00:45:59.440 --> 00:46:02.760
manage those numbers helps with grocery stores, It helps with supply chains in the

581
00:46:02.800 --> 00:46:06.960
target country. It helps with all
kinds of things. Can you walk through

582
00:46:07.039 --> 00:46:09.760
some of the functionality that you were
able to build and that is still existent

583
00:46:09.840 --> 00:46:16.079
today for being able to really understand
international trade and provide visibility and audit trail

584
00:46:16.119 --> 00:46:22.039
and all that fun stuff. Go
ahead, right, So I mean if

585
00:46:22.079 --> 00:46:28.440
I take a few steps behind,
few steps back, the system that we

586
00:46:28.519 --> 00:46:32.760
have implemented in Singapore, Crimson Logic
was formed in the your nineteen eighty eight

587
00:46:32.840 --> 00:46:39.360
because Singapore went through its first recession
and today's Prime Minister, Prime Minister Lee

588
00:46:40.039 --> 00:46:46.079
Lison Loong was the Minister of Trade
and Industry back then in nineteen eighty eight,

589
00:46:46.159 --> 00:46:52.360
who had conceived this grand plan of
leveraging on singapore strategic geographical location,

590
00:46:52.719 --> 00:46:58.280
which is straight in the middle of
the Malaca Straits where the cargoes move from

591
00:46:58.400 --> 00:47:01.239
the Asian side of the world to
the Western side of the world. So

592
00:47:02.480 --> 00:47:07.840
in order for the movement of goods
to be facilitated, you need to have

593
00:47:07.880 --> 00:47:13.039
a very robust process in place.
I'm not even talking about the IT system.

594
00:47:12.719 --> 00:47:15.599
I probably want to talk about the
process first, because that's where most

595
00:47:15.639 --> 00:47:19.840
of the bottleneck, most of the
red tape lives. You can have a

596
00:47:19.840 --> 00:47:27.079
fantastic it system with all the latest
computer technology programming principles in place. But

597
00:47:27.199 --> 00:47:32.519
if you do not have a very
streamlined, homogeneous process which works in tandem

598
00:47:32.519 --> 00:47:37.639
with the technology that you're putting in
place, that's where most of the countries

599
00:47:37.719 --> 00:47:42.320
have a challenge. If you take
just a dipstick survey across the world,

600
00:47:42.599 --> 00:47:45.800
every country would say that I have
a system in place, I'm able to

601
00:47:45.800 --> 00:47:47.199
do this, I'm able to do
that, but how efficient are they?

602
00:47:47.719 --> 00:47:52.639
For example, in Singapore, every
permit that is submitted to the government,

603
00:47:52.679 --> 00:47:57.719
actually there's no difference between a permit
and a declaration. So for people in

604
00:47:57.760 --> 00:48:00.719
the trade sector, they would understand
the between a declaration and a permit.

605
00:48:00.960 --> 00:48:05.599
Permit is to give you the permission
to bring in the goods into the country.

606
00:48:05.639 --> 00:48:09.159
Declaration is for you to pay the
duties, if at all any,

607
00:48:09.280 --> 00:48:15.199
to the customs before the goods are
being brought in. So in Singapore,

608
00:48:15.559 --> 00:48:19.880
what Chrinsologic has done many years ago
is we brought these two things together and

609
00:48:19.920 --> 00:48:22.920
now we have one single document,
an online document that you need to submit

610
00:48:22.920 --> 00:48:29.679
as a trader to the government and
Crimsologic system, as a concept of single

611
00:48:29.719 --> 00:48:34.639
window, takes this information to the
various government organizations behind the scenes. So

612
00:48:34.679 --> 00:48:38.599
the complexity of the trader being required
to go to different organizations to get the

613
00:48:38.639 --> 00:48:44.960
necessary permissions before a specific cargo is
brought into the country is completely abstracted.

614
00:48:45.480 --> 00:48:49.800
And in the olden days before eighties, it used to take three days,

615
00:48:50.639 --> 00:48:52.920
it used five days, and in
many countries even today it takes about five

616
00:48:53.280 --> 00:48:59.480
ten days for a specific clearance to
be obtained from the various organizations who are

617
00:48:59.559 --> 00:49:02.599
required from the government point of view
to provide views of approvals. But in

618
00:49:02.639 --> 00:49:07.400
Singapore it just takes less than three
minutes. Ninety five percent of the trade

619
00:49:07.400 --> 00:49:12.559
submissions that happen in Singapore are cleared
within the first three minutes, and that's

620
00:49:12.599 --> 00:49:15.719
the service level agreement that we have
which we need to honor. At three

621
00:49:15.719 --> 00:49:20.079
minutes is an exaggeration in my view. It just takes a few seconds for

622
00:49:20.159 --> 00:49:22.880
the system to run through the submissions
and then then flag out if there is

623
00:49:22.920 --> 00:49:25.920
any anomaly, and if it's a
flagout, it will obviously throw the thing

624
00:49:27.000 --> 00:49:30.559
back to the traders saying that you're
probably not addressed as part of the document,

625
00:49:30.960 --> 00:49:32.400
or if it wants to go for
a manual review, it will just

626
00:49:32.480 --> 00:49:36.840
rout it to the relevant authorities behind
the scenes. So that's the level of

627
00:49:36.880 --> 00:49:38.920
efficiency that we have achieved over the
last few years, and we have managed

628
00:49:38.920 --> 00:49:44.360
to export this efficiency to other countries
in the world. So today, based

629
00:49:44.360 --> 00:49:47.639
on the Singapore system, we have
about twenty countries around the world using similar

630
00:49:47.639 --> 00:49:54.079
systems with the same recipe, but
with different ingredients and different taste matters.

631
00:49:54.440 --> 00:50:00.719
Yeah, and that's so important for
trade because when you can automate a system

632
00:50:00.840 --> 00:50:05.960
like that where you can tell based
on documentation, I'm sure there are steps

633
00:50:06.000 --> 00:50:08.239
that have to be taken for that
to clear through. Right. Straight through

634
00:50:08.280 --> 00:50:12.440
processing is one of the terms that
they've used to describe that kind of thing.

635
00:50:12.920 --> 00:50:16.719
You just you facilitate transactions and you
open the doors and things work and

636
00:50:16.800 --> 00:50:21.440
everyone's happy. That's just I mean, I can't say enough about a system

637
00:50:21.559 --> 00:50:24.800
like that. It's so powerful because
it enables commerce. And when you have

638
00:50:24.840 --> 00:50:29.360
systems that are inefficient, and I've
lived in places where there are very inefficient

639
00:50:29.400 --> 00:50:34.599
systems, it inhibits commerce and that
slows down business, it slows down wealth

640
00:50:34.639 --> 00:50:38.519
creation, it slows down transactions,
that slows down everything. So final comments

641
00:50:38.519 --> 00:50:42.039
from Eugene, I just think that's
fantastic stuff. What do you think,

642
00:50:42.079 --> 00:50:51.800
Eugene, if only Singapore could run
Washington DC. That's what wait, So

643
00:50:51.920 --> 00:51:00.360
that you guys, having thought through
everything and understood understood when something needs a

644
00:51:00.440 --> 00:51:04.199
human eye and when, like the
vast majority, if you thought it through,

645
00:51:04.360 --> 00:51:08.239
it doesn't need a human eye.
And architecting this the straight through processing,

646
00:51:08.239 --> 00:51:14.760
as you indicated, is extraordinarily powerful
and all of the time, now

647
00:51:14.800 --> 00:51:20.599
all the friction that that saves is
is really really valuable. Well, folks,

648
00:51:20.599 --> 00:51:22.840
when you get your stuff from overseas
on time and it went through Singapore,

649
00:51:22.880 --> 00:51:27.280
you'll now know why Crimson Logical was
part of that magic. And with

650
00:51:27.360 --> 00:51:28.880
that, we're going to bid you
farewell. If you want to be in

651
00:51:28.920 --> 00:51:30.800
the show, send me an email
info at inside Analysis dot com. We'll

652
00:51:30.800 --> 00:51:37.639
talk to you next time. You've
been listening to Inside Analysis Southern California Radio

653
00:51:37.920 --> 00:51:49.119
ten fifty AM and one oh six
point five FM. And now the voices

654
00:51:49.199 --> 00:51:54.400
of ACAA was an exciting announcement.
Want to hear NBC News or KCAA anywhere

655
00:51:54.440 --> 00:51:58.760
you go, Well, now there's
a nap for that. KCAA is celebrating

656
00:51:58.800 --> 00:52:01.840
twenty five years and our silver anniversary
with a brand new app. The new

657
00:52:01.920 --> 00:52:07.920
KCAA app is now available on your
smart device, cell phone, in your

658
00:52:07.960 --> 00:52:12.199
car, or any place. Just
search KCAA on Google Play or in the

659
00:52:12.239 --> 00:52:15.199
Apple Store one touch and you can
listen on your car radio, Bluetooth device,

660
00:52:15.360 --> 00:52:21.079
Android Auto or Apple Car Play.
Catch the KCAA buzz in your earbuds

661
00:52:21.159 --> 00:52:24.159
or on the streets. Celebrating twenty
five years of talk news and excellence with

662
00:52:24.239 --> 00:52:30.119
our new KCAA app, Just do
it and download it. KCAA celebrating twenty

663
00:52:30.119 --> 00:52:37.840
five years to Hebot Club's original Pure
powdy Rco super TEA helps build red corpuscles

664
00:52:37.840 --> 00:52:42.719
in the blood, which carry oxygen
to our organs and cells. Our organs

665
00:52:42.719 --> 00:52:46.760
and cells need oxygen to regenerate themselves. The immune system needs oxygen to develop,

666
00:52:46.800 --> 00:52:51.679
and cancer dies in oxygen. So
the T is great for healthy people

667
00:52:51.719 --> 00:52:54.440
because it helps build the immune system, and it can truly be miraculous for

668
00:52:54.519 --> 00:52:59.880
someone fighting a potentially life threatening disease
due to an infection, diabetes, or

669
00:53:00.280 --> 00:53:04.480
cancer. The T is also organic
and naturally caffeine free. A one pound

670
00:53:04.480 --> 00:53:07.159
package of T is forty nine ninety
five which includes shipping. To order,

671
00:53:07.199 --> 00:53:12.719
please visit to ebot club dot com. T hebo is spelled T like tom,

672
00:53:12.840 --> 00:53:15.960
a h ee b like boy.
Oh. Then continue with the word

673
00:53:16.000 --> 00:53:21.280
T and then the word club.
The complete website is to Hebot Club dot

674
00:53:21.280 --> 00:53:24.440
com or call us at eight one
eight sixty one zero eight zero eight eight

675
00:53:24.599 --> 00:53:29.760
Monday through Saturday, nine am to
five pm California time. That's eight one

676
00:53:29.800 --> 00:53:35.360
eight sixty one zero eight zero eight
eight t Ebot club dot com with sixty

677
00:53:35.519 --> 00:53:42.679
years of fascinating facts. This is
the man from yesterday and back in time.

678
00:53:42.679 --> 00:53:45.679
We go to this time in nineteen
sixty eight, Glenn Campbell is quitting

679
00:53:45.719 --> 00:53:50.360
as a musical sideman and he's going
to be solo. Glenn Campbell has been

680
00:53:50.440 --> 00:53:54.639
signed to host the summer replacement show
for the Smothers Brothers on CBSTV. Last

681
00:53:54.679 --> 00:54:06.320
year, Twen Campbell had this hit
as a solo artist, Narrow Minded,

682
00:54:07.079 --> 00:54:14.880
Narrow Mind and from this time in
nineteen eighty nine, Family Ties will have

683
00:54:14.920 --> 00:54:19.559
a one hour finale in May after
seven seasons. The script calls for Alex

684
00:54:19.639 --> 00:54:22.880
Keaton played by Michael J. Fox, to land a job at a New

685
00:54:22.960 --> 00:54:27.719
York stock brokeridge. Look, if
this has been a pop tart, we'd

686
00:54:27.719 --> 00:54:35.480
be dead now, Dad, Dad, looking I'm sorry, I'm sorry.

687
00:54:36.079 --> 00:54:39.480
And looking back to nineteen fifty eight, Gracie Allen says she is retiring from

688
00:54:39.480 --> 00:54:44.039
show business at the end of this
current TV season. Here in nineteen fifty

689
00:54:44.039 --> 00:54:47.239
eight, she says she wants to
spend more time at home with her grandchildren.

690
00:54:47.559 --> 00:54:52.119
Have you had a driver's license before? How long? Well? It's

691
00:54:52.159 --> 00:55:00.239
about this. Well it's riding with
more at man from yesterday dot com.

692
00:55:00.360 --> 00:55:05.360
It's that time of year again.
No, not the holidays. Medicare open

693
00:55:05.480 --> 00:55:08.519
enrollment and if you have questions about
Medicare, you should talk to the local

694
00:55:08.639 --> 00:55:14.199
experts. Paul Barrett and Associates.
All of his agents are certified with plans

695
00:55:14.199 --> 00:55:16.880
that are accepted by most of the
medical groups in our area. Call nine

696
00:55:16.920 --> 00:55:22.199
oh nine seven nine three oh three
eight five. Their service is free and

697
00:55:22.519 --> 00:55:25.039
after forty two years of the business, their agents are trained to help you

698
00:55:25.119 --> 00:55:30.000
pick the plan that's right for you. Presiding Valley Tree Service reminds listeners that

699
00:55:30.079 --> 00:55:35.239
during these trying times, blood supply
levels are critically making blood donations essential.

700
00:55:35.360 --> 00:55:37.559
Take the time to donate blood to
day. Visit Redcross dot org to find

701
00:55:37.559 --> 00:55:40.880
a location near you, or call
one eight hundred Red crossing to schedule your

702
00:55:40.880 --> 00:55:45.880
donation today. This reminder courtesy of
Presiding Valley Tree Service, probably serving the

703
00:55:45.920 --> 00:55:49.760
area with their full range of tree
service for over fifteen years for tree trimming,

704
00:55:49.760 --> 00:55:52.440
in service, multistallation and more called
nine O nine eight five five zero

705
00:55:52.440 --> 00:55:57.480
two sixty four. That's nine O
nine eight fifty five zero two sixty four

706
00:55:57.639 --> 00:56:01.840
or visit tree servicelakarohead dot com beside
in Valley Tree Service on the air because

707
00:56:01.880 --> 00:56:09.920
they care. Redlands Ranch Market is
a unique, full service international grocery store

708
00:56:09.920 --> 00:56:15.039
that specializes in authentic food items from
Mexico, India, and from many Mediterranean

709
00:56:15.119 --> 00:56:20.519
and Asian countries, including popular items
from the US. They offer fresh baked

710
00:56:20.559 --> 00:56:23.719
items from their in house bakery,
housemade tortillas from their tortilla area, a

711
00:56:23.800 --> 00:56:29.239
delicious array of prepared Mexican foods,
a terrific fresh food and juice bar,

712
00:56:29.480 --> 00:56:32.760
and a large selection of meats,
seafoods and deli sandwiches, salads and halal

713
00:56:32.880 --> 00:56:37.440
meats. Their produce department is stock
full with fresh, local and hard to

714
00:56:37.480 --> 00:56:42.480
find international fruits and vegetables that you
cannot find anywhere else. Don't forget to

715
00:56:42.519 --> 00:56:46.920
step into the massive beer cave and
experience the largest selection of domestic, artisan

716
00:56:47.039 --> 00:56:52.119
and imported beers in the IE.
They can also cater your next event with

717
00:56:52.199 --> 00:56:55.960
one of the delicious takeout catering trades
of food. Visit them at Redlands Ranchmarket

718
00:56:57.000 --> 00:57:00.880
dot com. That's Redlands Ranchmarket dot
com. Redlands ranch Market a unique and

719
00:57:01.039 --> 00:57:08.599
fun shopping destination. It's a bird, it's a firm. No, it's

720
00:57:08.639 --> 00:57:15.199
super raw. Okay, a gimmicky
opening for a commercial about super roth universal

721
00:57:15.239 --> 00:57:19.119
life insurance. But I'm sure it
got your attention. Now. What is

722
00:57:19.239 --> 00:57:22.840
a super wroth, you ask.
It's a permanent indexed universal life insurance that's

723
00:57:23.039 --> 00:57:29.119
totally liquid and easily accessible once it
matures. Can be used to supplement retirement

724
00:57:29.199 --> 00:57:32.559
savings or a death benefit, or
both. Has no income or contribution limit,

725
00:57:32.840 --> 00:57:37.280
has no five year rule like raw
iras, has no ten percent penalty

726
00:57:37.320 --> 00:57:40.880
for accessing the funds before age fifty
nine and a half. Oh, and

727
00:57:40.960 --> 00:57:45.920
the average historical returns are five to
seven percent annually. Tax free. Super

728
00:57:46.000 --> 00:57:50.679
roths also lock in gains, which
means you don't lose your money when the

729
00:57:50.719 --> 00:57:54.800
market is down. It sounds incredible, right, sounds super super roths are

730
00:57:54.800 --> 00:57:59.880
the way of the future, specifically
your future. To see if you qualify

731
00:58:00.079 --> 00:58:06.159
for a super Roth, go online
to the Superwroth dot com. This segment

732
00:58:06.199 --> 00:58:10.159
is sponsored by press Print, Southern
California's best full service union printer and mailhouse.

733
00:58:10.239 --> 00:58:15.760
They offer their lowest prices around with
unmatched service and reliability and free delivery

734
00:58:15.760 --> 00:58:19.679
throughout Socount. Press Print can print
anything from letterhead, business cards, and

735
00:58:19.760 --> 00:58:23.000
campaign literature to mailers of any size, lawn signs, banners, doorhangers,

736
00:58:23.079 --> 00:58:27.440
or just about anything you might want. Press Print promises to save money for

737
00:58:27.559 --> 00:58:30.480
you, your business, or your
campaign. If you'd like to learn more,

738
00:58:30.679 --> 00:58:35.000
contact Mike Kroumbrint at press Print seven
one four three nine nine eight,

739
00:58:35.079 --> 00:58:39.920
seven zero eight Get the Union bug
de listine the KCAA Loma Linda at one

740
00:58:39.960 --> 00:58:46.519
O six point five FMK two ninety
three C F Burno Valley, NBC News

741
00:58:46.599 --> 00:58:52.000
Radio, I'm Chris Kragio. President
Biden says the responses coming following the overnight

742
00:58:52.079 --> 00:58:55.159
drone attack at a US outpost in
Jordan that killed three American service members.

743
00:58:55.280 --> 00:58:59.960
Biden held a moment of silence during
an event today in South Carolina, calling

744
00:59:00.079 --> 00:59:02.239
it a tough day in the Middle
East. The White House is blaming radical

745
00:59:02.239 --> 00:59:07.480
orion backed militant groups for the strike. It marks the first US troops killed

746
00:59:07.480 --> 00:59:10.280
by enemy fire in the Middle East
since the start of the Israel UMAs War.

747
00:59:10.840 --> 00:59:15.159
Former President Trump says he will not
support a bipartisan bill that would give

748
00:59:15.199 --> 00:59:20.960
President Biden emergency authority to shut down
the southern border without congressional support. Trump

749
00:59:20.960 --> 00:59:23.400
made the comment last night in a
rally in Las Vegas. He also praised

750
00:59:23.480 --> 00:59:28.559
Texas Governor Greg Abbott for what he
called defying the US Supreme Court and called

751
00:59:28.599 --> 00:59:31.920
on other states to send National Guard
troops to Texas in support. The head

752
00:59:31.920 --> 00:59:37.000
of the United Autoworkers Union says a
presidential endorsement has to be earned, and

753
00:59:37.039 --> 00:59:39.360
that President Biden has earned his.
He stood up with us for the first

754
00:59:39.400 --> 00:59:44.519
time in US history, we had
a sitting president joined striking workers on the

755
00:59:44.559 --> 00:59:47.800
picket line. UAW President Sean Fain
spoke on CBS's Face the Nation just four

756
00:59:47.840 --> 00:59:52.519
days after formally endorsing Biden during the
union's national convention in Washington, DC.

757
00:59:53.159 --> 00:59:58.840
Fain contrasted Biden and former President Trump, saying that the current president has a

758
00:59:58.920 --> 01:00:02.039
history of serving and fighting for the
working class. Fain then said that Trump

759
01:00:02.039 --> 01:00:07.719
has a history of serving himself and
standing for the billionaire class. The head

760
01:00:07.760 --> 01:00:08.559
of a major global charity organization,