What was said
What this says
As at Fri 9 Oct 2026Proposal call on 8 Dec 2025 for the Growth tier. The CFO asked for the annual subscription price, not the £60k total, and for regulator-grade contract terms. The champion is clear on value; the CFO did not decide.
What happened: Matteo Ricci presented the Growth proposal to Eline Bakker and Pieter de Groot on 8 Dec 2025. The £60k total includes the one-off implementation fee, so it is not the annual price.
Customer view: Pieter wanted the yearly subscription alone and said he does not pay what he cannot match to the contract. Eline said the demo view of disputes, tickets and volume for one merchant would be used every week.
Commercial: Pieter prefers quarterly billing. He raised supervision by De Nederlandsche Bank, outsourcing governance, audit rights and incident notification.
Watch: Matteo committed to send the written proposal, a draft order form and the clauses, with Hannah Lowe answering on architecture and logging. The target to close by 22 Jan 2026 was stated as a target, and the evidence does not show the outcome.
Themes
As at Fri 9 Oct 2026Who was there
BG-Demo
Them
Follow-up
Next steps
As at Fri 9 Oct 2026- Matteo Ricci sends the written proposal with three lines, the draft order form and the audit and incident clauses by the end of that week.
- Hannah Lowe sends written answers on architecture and logging to Eline Bakker and Ruben.
- Pieter de Groot reviews the paper with his team, then the open points are agreed.
Risks
As at Fri 9 Oct 2026- The CFO needs the annual subscription shown separately from the £59,500 total before he can compare it with budget.
- Regulator requirements on audit rights and incident notification are not yet confirmed in contract wording.
- The close target of 22 Jan 2026 depends on the customer's regulatory assessment and may slip.
Opportunities
As at Fri 9 Oct 2026- Merchant success and merchant risk teams could both use the Growth tier, and the champion would use it weekly.
- Quarterly billing was requested, which BG-Demo offers on request.
Transcript
- Matteo RicciGood morning, Eline, good morning, Pieter. Thank you for making the time. Can you both hear me?
- Eline BakkerYes, clear. Pieter, can you hear?
- Pieter de GrootI can. Good morning. First, one question about invoices. When you invoice us, how does it match the contract? I do not pay what I cannot match.
- Matteo RicciThat is the right place to start, and I will answer it properly. The order form is the document that decides. Invoices follow it, line by line. The subscription is billed annually in advance, or quarterly if you ask for that, with thirty day terms. The implementation is a separate one-off line.
- Pieter de GrootQuarterly, I would prefer. Predictable. So, what does it cost per year?
- Matteo RicciLet me be careful, because there are two numbers and they are easy to confuse. The proposal for the Growth tier comes to £59,500 in total. That is the whole deal, and it includes the one-off implementation fee. It is not the annual price.
- Pieter de GrootThen it is not what I asked. I need the yearly amount, the subscription only.
- Matteo RicciUnderstood, and you are right to ask. I would rather not read a number to you from memory and have it differ from the paper. Let me confirm that in writing: the proposal will show the annual subscription on one line, the implementation on another, and the total of £59,500 underneath, so you can see it adds up.
- Pieter de GrootGood. Then I can compare it with budget. Is the subscription price fixed for the term?
- Matteo RicciFor the first term, yes, it is what the order form says. At renewal there is a notice from our customer success side well ahead of it, and any change in the list price is stated then. Nothing arrives as a surprise on an invoice.
- Eline BakkerMatteo, one practical thing. Can you say what is in the Growth tier? For Pieter, in one sentence.
- Matteo RicciOf course. Several teams can use it, so merchant success and merchant risk together, with the connectors and users that go with Growth, dashboards, and a quarterly review with our customer success manager, Elena Novak. The details will be in the order form.
- Pieter de GrootFine. I do not need features. My concern is another one. We are supervised by De Nederlandsche Bank. This is an outsourcing. How is it governed?
- Matteo RicciYes. And I want to be straightforward about it: what does your regulator need to see? You will know that better than I do. What I can say is that the brain runs inside your own Snowflake account, so the data does not leave your environment. For the outsourcing register and your assessment, I would ask Hannah Lowe to prepare written answers that your team can use.
- Pieter de GrootIs this in the contract? Audit rights, incident notification?
- Matteo RicciThe contract sits under our master agreement, and the order form on top of it. I will not claim a term is in there until I have checked the exact wording with our legal team. I will send you the actual clauses, so your lawyers read the text, not my summary.
- Pieter de GrootThat is acceptable. And if there is an incident, I hear about it from you. Not from a customer.
- Matteo RicciAbsolutely. I would never hide an incident from your security team, and I would want you to hear it from me first.
- Eline BakkerPieter, maybe I say it from my side. In the demo, we saw disputes, tickets and volume for one merchant on one page. Daan and I both would use that every week. For me it is clear.
- Pieter de GrootI believe you, Eline. That is your area. I look at the cost and the contract. I do not decide on this call.
- Eline BakkerYes, I know. Who owns the next step, then?
- Matteo RicciMe. By end of the week I send the written proposal with the three lines, the draft order form and the clauses on audit and incidents. Hannah sends her answers on architecture and logging to Eline and Ruben. Then Pieter, you review with your team, and we agree what is still open.
- Pieter de GrootAnd the timeline?
- Matteo RicciThe target we have been working to is to close by 22 Jan 2026. It is a target, not a promise. If your assessment needs longer, we take longer. What matters is that it is done properly. Any start date for connectors I will only give you after engineering has agreed it.
- Pieter de GrootGood. That is honest. Send me the paper, I will read it.
- Eline BakkerI will find a time with Pieter after he has it. Thanks, Matteo.
- Matteo RicciThank you both. Grazie, and speak soon.
- Pieter de GrootGoodbye.
- Eline BakkerGroetjes, Matteo.