Understanding the open banking landscape

Explore state-level and industry level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.

As a service provider, you may be facing an uptick in delinquencies, making it crucial to optimize your debt collection strategies.

We’ve created a comprehensive free e-book, designed to show how you can bundle our innovative solutions for smarter, more efficient debt collection.

In this e-book, you’ll discover how to:

• Segment and prioritize: Identify high-yield accounts to accurately focus your collection efforts.
  
• Contact the right way: Maximize recovery by reaching debtors on their preferred communication channels.
  
• Streamline your operations: Use automated workflows to drive efficiency and improve results.

This report provides an in-depth analysis of the credit card landscape, offering key insights to help your business tackle today’s challenges and uncover opportunities for growth.

Key insights:

• Credit card debt reached an all-time high of $1.17 trillion in Q3 2024.
• About 19 million U.S. households were considered underbanked in 2023.
• Bot-led fraud attacks doubled from January to June 2024.

With behavioral analytics, Grasshopper Bank supercharges their team’s efficiency through improved top-of-funnel fraud detection and better-informed resource allocation.

Key Results:

• More accurate rejection at top-of-funnel onboarding, drastically reducing manual review costs and API calls
• Streamlined client onboarding through advanced fraud detection tools
• Refined cost-awareness, informing operational spending for the acquisition team as well as fraud team