Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question will come from the line of John Kraft of D A Davidson.
John Kraft - D A Davidson
Hey, Rob. Hey, Kevin.
Robert A. Eberle
Hello.
John Kraft - D A Davidson
Just first question – well, first, congrats on the orders. The orders look nice and diverse; and backlog, it looks like the highest growth we’ve got on record. I was wondering if you could talk more about the SWIFT partnership, and if you’ve had any early success signing contracts there and really just what the status is besides your implementation that you talked about?
Robert A. Eberle
Yes, sure. I’ll actually cover all fronts of that. First off, the offering has been very well received. We’ve signed on a number of customers to date. And what we’ve done at this point is gone through a detailed review for the next phase and release. Now, that’s actually pushed out the schedule for a go live and a go live on our subscription revenues. But the work we’ve done with SWIFT, I was there for three days at the beginning of the January quarter, part of the work. It’s really setting ourselves up for a much stronger offering and doing a deep dive into what do we want to have from a feature function standpoint. So we are working very closely with that organization. It’s a great partnership. If anything, I think there’s a higher potential on the revenue share piece today than we first signed it. But I don’t have specific metrics that at this point we can wire in. It’s still going to be – when we launch – which at this point now will be the end of the calendar year that we will really see the ramp on their end. And we’ll also again begin to start recording the revenues on our side.
John Kraft - D A Davidson
Okay. And then moving on to some other international opportunities, seems to me that we are hearing more and more reports regarding faster payments and SEPA of – that second tier adoption slowing or stalling. Can you comment on either of those?
Robert A. Eberle
Yes. You’re definitely hearing reports of that slowing, and then there’s different pieces of legislation which could be delayed in the European Union, a regulation, I should say, that would slow that. I would tell you, we haven’t been particularly dependent on that. We view different payment types and payment changes as an opportunity, but this has been – SEPA has been a long time coming. So we’re really looking at more things we can do around automating the entire cash cycle with customers, the banks in Europe, for example. There’s bigger opportunities than either faster payments, the UK initiative, or SEPA, our European Union initiative.
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