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That, along with rising local government debt and high unemployment, is weakening consumer demand and fueling the country鈥檚 spiral into deflation. Real estate investment from January to November is down 10.4% YoY, although stabilizing home prices in upper-tier cities could signal that the property market is bottoming out鈥攁nd that a recovery will soon be on the horizon.

And a nervousness to acquire credit card debt, driven by high interest rates, is pushing many to put off applying for one. For Gen Zers who do have a card, low credit limits may steer them to supplement credit card spending with BNPL. But older generations are still an important鈥攁nd growing鈥攕egment for BNPL providers to target.

And consumer credit card debt hit a record $1.17 trillion in Q3. Here鈥檚 a look at three trends that defined the credit card sector in 2024. 1. The mega-merger. Capital One鈥檚 proposed $35.3 billion acquisition of Discover would be the biggest credit card merger on record.

Growth in income has consistently outpaced debt, per Fed data. The ratio of consumer鈥檚 total debt balance to income fell to 82% in Q3, compared with 86% in 2019. Our take: Consumer financial health remains fairly unchanged. While some metrics could be cause for concern, others are more positive.

Financial services: Includes commercial banks, credit agencies, personal credit institutions, insurance companies, consumer finance companies, loan companies, business credit institutions, and credit card agencies. Also includes companies engaged in the underwriting, purchase, sale, or brokerage of securities and other financial contracts.

They鈥檙e also linking loans directly to deposit accounts, which enables them to offer bundled products and personalize their loan offers based on customer deposit behavior.

For a major issuer to launch a subscription-based rewards credit card in 2025, they will have to properly market it to debt-conscious customers. An issuer like Discover, which has a large base of lower-credit customers, could be a good candidate for such a launch.

This can be particularly beneficial for those living paycheck to paycheck, as it reduces the need for expensive short-term loans. Improved cash flow management: Instant payments let consumers immediately process and settle bills, transfer funds to cover shortfalls, and transfer funds into digital wallets to make purchases.

The retailer鈥檚 last stores closed in 2020, while its ecommerce operations folded earlier in 2024 after its then-owner, Saadia Group, shut down following a default on a loan agreement.

The FI trains member-facing roles, such as mortgage loan originators and financial advisors, to create authentic posts within specific brand guidelines. The initiative has resulted in hundreds of employee-generated posts and thousands of impressions. Ohio-based Civista Bank introduced the Social Star Program to encourage employee advocacy, according to its website.

They鈥檙e still using the payment method, but some are wary the plans lead to overspending

While cost-cutting has helped improve cash flow, high debt levels ($14.5 billion) and declining traditional TV revenues signal that financial pressures are far from over. Amazon鈥檚 Advertising Expansion Faces New Pressures. Retail media is evolving beyond ecommerce, with Amazon and Walmart leading the charge.

Vodafone has the option to acquire the entire business after three years if it reaches a value of at least 拢16.5 billion ($20.52 billion), including debt. The combined business will invest 拢11 billion ($13.68 billion) over 10 years to create a standalone 5G mobile network.

Financial services: Includes commercial banks, credit agencies, personal credit institutions, insurance companies, consumer finance companies, loan companies, business credit institutions, and credit card agencies. Also includes companies engaged in the underwriting, purchase, sale, or brokerage of securities and other financial contracts.

The system enables precise ad placement - for example, an automotive advertiser can target driving scenes while avoiding accident content, or a mortgage company can reach house hunters while steering clear of foreclosure coverage.

That includes programming the LLM to adhere to specific guidelines (e.g., ING鈥檚 chatbot cannot give advice on mortgages or investments) and pairing the LLM with a knowledge graph (a visual map of relevant facts and relationships between concepts) to help ensure factual accuracy. Personalized financial advice. Why genAI?

Older consumers take an average of 3.71 years to do the same. 40% of young consumers who had an automotive loan from a bank or credit union used the same financial institution (FI) for their next lending product.

In product-based banking, the consumer must seek out a mortgage, home insurance, and home improvement loans separately (and sometimes from different providers when the need arises). For nonfinancial services that support homeownership, they must seek out another set of providers outside of financial services. The customer journey is disjointed and siloed.

Financial services: Includes commercial banks, credit agencies, personal credit institutions, insurance companies, consumer finance companies, loan companies, business credit institutions, and credit card agencies. Also includes companies engaged in the underwriting, purchase, sale, or brokerage of securities and other financial contracts.

Around half of US consumers with federal student loans believe they鈥檙e at risk of defaulting on their payments, according to a 2023 Morning Consult survey. And a whopping 28% of US consumers were 鈥渧ery concerned鈥� about paying off their credit card debt, per a 2023 survey conducted by Redfield & Wilton Strategies on behalf of Newsweek.