How can Lithic prove that it has the scale and capacity to handle large projects and attract bigger customers?

I think there are two reasons why we win.

One is that we just move a lot faster than more established incumbents. In the time that it takes them to get an NDA over, we can get you keys to actually moving transactions and testing the system out. That’s one component where the proof is in the pudding. You can get a 100-page spec from one of the incumbent players, but nothing beats a test drive. It’s similar to a car in some ways. I can describe how smooth the ride is, but until you try it, you’re not going to really know. That’s one thing that was insane to me in the process when we started working with our original issuer processor: we had to go through like six months before we could even run any test transactions. I think that’s just a crazy way of doing it.

The other thing is we have this benefit of having effectively a really large customer in-house, which is the privacy.com business. If it goes down, people on our team will hear about it. So we’re very in tune with what needs our customers have.