Digital Shift: Younger Generations Redefining Credit… and Collections

Trent McKenrick explains that the shift in digital adoptpion is driven by a new generation of credit consumers, as baby boomers retire, and millennials, who prefer digital interactions, become the primary credit consumers.

He notes that millennials, initially without financial burdens, now drive credit card balances higher and impact the economy’s flow. Millennials’ preference for digital interactions has led businesses to recognize the importance of automation and digitalization, prompting a shift towards digital channels in the last decade.

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