US Credit Card Digital Account Opening Forecast 2023

How Digital Innovation Is Buoying Growth Despite Headwinds

Credit card digital account openings are normalizing after pandemic-driven fluctuations. Recessionary factors and Gen Z’s shifting behaviors are slowing growth, but it will stay positive as issuers tap digital innovations—like open banking and alternative credit models—to convert more consumers into cardholders.

Key Question: What are the top factors shaping the digital account opening opportunity for credit card issuers seeking to acquire new customers?

KEY STAT: Credit card digital account opening growth will keep tapering as consumers increasingly opt for alternative financing methods. But evolving offerings—many powered by new tech—will keep them interested.

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Table of Contents

  1. Digital account opening is reaching a critical mass and now reflects larger credit card opening trends.
  2. Recessionary factors and shifting generational behaviors are inhibiting digital account opening growth.
  1. Technologies like open banking and alternative credit models are driving account opening growth.
  2. Sources
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Grace Broadbent


Eleni Digalaki
Principal Analyst
Chris Keating
Director, Research
Brian Lau
Forecasting Analyst
David Morris
Principal Analyst

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