How Trustly maintained collections performance while increasing referrals 12x

Client profile

Trustly is a leader in open banking, empowering consumers to directly pay merchants with their account to account platform. Active in 33 countries, their global network supports 650 million consumers worldwide.


2023 was a record-breaking year for Trustly, experiencing enormous growth:

  • Processing 274 million transactions, a 30% YoY increase
  • Reaching $58 billion in annual transaction value, a 79% YoY increase
  • Expansion of services to over 9,000 merchants globally

This surge in volume means Trustly needs a collections partner who can support high numbers of overdue accounts, while scaling in real time as referrals increase. They expect strong performance from their collections partner to provide each customer with consistent levels of support, recovering individual balances up to $100,000.


The open banking provider started their partnership with InDebted in July 2022, referring their overdue United States and Canadian accounts. From the get-go, Trustly could simplify their account referral process with Collect’s straightforward SFTP upload. This means that accounts are referred within minutes, saving Trustly’s team valuable time and resources.

During their year of exceptional growth, Trustly began rapidly increasing their referral volume. Comparing the first six months of 2023 to the final six months, their monthly referral amount saw a 12x increase. The solution? Collect is infinitely scalable, handling influxes in account volumes with no impact to performance or customer satisfaction.

Through machine learning, customers receive a personalised, intuitive collections experience. They’re engaged using the channels they prefer with an omnichannel strategy, and how they interact with one communication informs what they receive next. Limitless in the volumes it can support, our solution provides each customer with the same level of dedicated support.


High balances and growing volumes call for collections performance to match, and Collect doesn’t disappoint. With their 12x increase in monthly referral volumes, collections performance saw a 20x increase - comparing the first six months of 2023 to the following six months.

During this partnership, our self-serve portal has received two of the largest single payments in InDebted’s history from Trustly customers - each over $60,000. Debunking the theory that large balances require phone-based strategies rather than digital debt collection. When we look at the bigger picture, almost 70% of Trustly’s customers in the United States self-serve their account through digital channels. It’s clear that for this customer base, our debt management portal gets the tick of approval!

In less than 10 months, InDebted has collected almost $4 million USD for Trustly, with 4 in 5 customers resolving their balance in full. InDebted’s difference? Intelligent, scalable collections that exceed expectations for Trustly, and their customers.

Client Perspective

“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



Financial Services
Business size
650 million customers

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