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The future of credit cards: a huge opportunity for banks

The future of credit cards: a huge opportunity for banks

Even though technology and consumer behavior are constantly evolving, from a customer perspective, credit card propositions haven’t changed a great deal since the 1980s.

Of course, some things have changed: signatures are getting replaced by biometrics, some retailers don’t even require us to queue to pay, and new models for repayments, such as Buy Now Pay Later (BNPL), are growing exponentially.

Our guide to The Future of Credit looks at credit cards today, to understand the innovation that’s disrupting the industry.

Read The guide

Why read it?

The short answer is: to understand the changing needs of credit card customers.

The way customers use credit is changing. BNPL is becoming the norm while customers are getting savvier, optimizing their interest across lending products.

While all of this is happening, credit card propositions from banks look essentially the same as they did in the 80s.

At 10x, we believe there’s a massive opportunity for banks to harness the rich datasets they hold, transform their credit offerings, and catch up with the competition.

Read The Future of Credit

What’s in the guide?

The key takeaways include the following: 

  • How credit card products have changed since the 1980s 
  • How traditional banks and challenger credit products differ  
  • Paymentology’s perspective on how credit cards are evolving  
  • How to bring the credit card lifecycle into 2023  
  • And much more.

Why have we written it?

To celebrate the launch of our SuperCore® Cards product, we’re looking at the recent history of credit and what’s coming next. SuperCore® Cards enables banks to deploy next-generation credit propositions while slashing time to market from 12 months to just 12 weeks.

To learn more about transforming credit cards with 10x, get in touch with the team today.