Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Colin Gillis - Canaccord.
Colin Gillis - Canaccord Adams
Can you just talk a little bit about if you are seeing any changes on a geographical basis in terms of the appetite for your products by customers on a geographical region?
Rob Eberle
Yes, that is a great question, and we are, particularly in global banks. And whether that is an appetite that is driven by the environment globally or more emphasis Bottomline has placed on marketing to global banks, I could not tell you, but we are clearly seeing greater and greater demand from global institutions, which not only drives growth, but it also insulates us quite a bit from any disruptions or concerns that might be out there around domestic financial institutions.
Colin Gillis - Canaccord Adams
And then along those lines, are you seeing the size of the typical deals continue to get larger and larger as you are targeting these global banks?
Rob Eberle
Yes, there I would say, first off, yes, the deals are getting are larger, but I think the principle driver behind that is not a market fact. I think it is what Bottomline's now built into the product and the breadth of capability that we deliver with banks. So, where we would have had a module or two and some services in the past, we now can offer a full cash management suite with different payment types reporting global information and balance and transaction and the like, and that is certainly driving a larger average deal for us.
Colin Gillis - Canaccord Adams
Could you give us some color as to how the cross-sell of Business eXchange is into the current basic customers?
Rob Eberle
Yes, what we are doing today, we are not focused today on a cross-sell. What we are focused on is the pilots, and we have gone live with our first customer, which is a Fortune 50, and they are currently up and running, and we are bringing a second customer up live during the course of this quarter. And so, we will drive marketing on Business eXchange. We will begin more aggressively towards the end of the calendar year.
Colin Gillis - Canaccord Adams
Because most of that product cycle decisions are going to be a calendar '09 event at this point, right?
Rob Eberle
Yes, you will not see as we have commented before, the Business eXchange absolutely, I believe, will be a long-term growth driver of subscription and transaction revenues, and the market size and potential for that is significant. But our near-term growth we will see driven more by global banks, more by payment and document offerings. And as we bring on some of the customers we talked about today, the revenues that come from those deals.
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