Client profile

Trustly is a global open banking leader, enabling consumers to pay merchants directly via account-to-account transfers. Operating in 33 countries, Trustly supports a network of over 650 million consumers worldwide.

The challenge

In 2023, Trustly experienced record-breaking growth:

• 274 million transactions processed – up 30% year-over-year
  
• $58 billion in transaction value – a 79% increase
  
• Services expanded to over 9,000 merchants globally

This rapid scale-up demanded a collections partner capable of managing high volumes of overdue accounts—while delivering consistent, high-quality customer support across balances reaching up to $100,000.

The solution

Trustly began working with InDebted in July 2022, referring overdue U.S. and Canadian accounts through our Collect solution. From the start, the team streamlined operations using our secure file upload, allowing referrals to be made in minutes—freeing up internal resources.

As volumes surged, Trustly’s referral rate grew 11x between the first and second halves of 2023. Thanks to Collect’s infinite scalability, this growth came with zero impact to customer satisfaction or collections performance.

Key features that powered this success:

• Machine learning-driven personalization, adapting communications based on customer behavior
  
• Omnichannel support across voice, email, SMS, and live chat
  
• Consistent experience at scale, even with thousands of concurrent accounts
  

The impact

Trustly’s collections performance skyrocketed, delivering results well beyond 2022 baselines:

• 92% improvement in collections performance across all placement periods
  
• Continuous gains across 2023, H1 2024, and H2 2024, showing sustained momentum
  
• Breakthrough holiday season performance in H2 2024, historically a tough collections period
  

These results mark a fundamental transformation in Trustly’s recovery strategy. Notably, two of the largest single payments in InDebted’s history—each over $60,000—were made by Trustly customers via our digital portal. This challenges the outdated belief that large balances require phone-based collections.

Additionally, 87% of Trustly’s U.S. customers self-serve via digital channels, proving that modern customers prefer flexible, digital-first options.

In just 10 months, InDebted recovered nearly $4 million USD for Trustly, with 4 in 5 customers resolving their balance in full.

“Customer experience is critically important to Trustly, and InDebted’s omnichannel collections approach is core to how we support our loyal customers when something unexpected happens. We want to empower our customers to resolve their overdue balances in a way that truly works for their circumstances. InDebted makes that seamless. Finding a collections partner that can support our growth, while still providing an exceptional experience for our customers is a win-win.” - Rakesh Teckchandani, Sr. Director Risk Product, Trustly