Report
Published October 14, 2024
Banks Economic & Market Insights
Dive into key trends important for the financial services industry including credit activity, lending standards, loan demand, originations, delinquency and consumer sentiment.
Key takeaways:
- Underlying economic activity remains solid and a soft-landing remains the base case, but weaker labor market conditions have heightened concern about the outlook.
- While there remains some stubbornness, inflation has generally continued to moderate towards the Fed's 2% target with improvement seen across both goods and services.
- Recent revisions to real income growth and consumer spending suggest that households are on better footing than previously thought.
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Video
Navigating Industry-Specific Risks
Experian's latest Commercial Pulse Report highlights how risk profiles vary significantly by industry and business age.
🔹 New businesses in sectors like Construction and Food Services face higher delinquency rates, signaling elevated credit risks.
🔹 Meanwhile, industries like Retail and Healthcare maintain stable performance, regardless of business maturity—offering balanced opportunities for lenders.
Understanding these dynamics is critical for tailoring lending strategies, mitigating risk, and supporting business growth across industries.
Check out the full report to see how these trends could impact your strategy!
Report
State of Credit Card Report
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.
Case Study
How Grasshopper Bank Achieves Efficient, Secure Onboarding with Behavioral Analytics
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