Discover Financial Services invested in its integrated digital banking model, risk management, analytics and compliance initiatives in 2023 and expects to continue those efforts this year. 

“We’ve dedicated a lot of dollars in terms of analytics, in terms of call frequency and best time to call, and we’ve worked on our call scripts to ensure they’re compliant but also effective in terms of prioritizing payments,” Chief Financial Officer John Greene said today during Discover’s earnings call. 

During the fourth quarter, Discover’s information processing and communications spend increased 19% year over year to $170 million, according to its Q4 earnings release. 

NOTEWORTHY: In Q4, Discover named Michael Rhodes as its chief executive in December. 

Rhodes, who will take over March 6 after 12 years at TD Bank, “has managed all aspects of our consumer banking business with deep experience in the credit card space, payments, online and mobile banking and served as group head of innovation and technology,” interim CEO John Owen said during Discover’s earnings call. 

FUTURE LOOK: David Lyons, intelligent automation program manager at Discover Financial Services, will speak at Bank Automation Summit U.S. 2024 on Monday, March 18, at the Omni Nashville in Nashville, Tenn.  

[stock_market_widget type=”inline” template=”generic” assets=”DFS” markup=”{name} ({symbol}) is trading at {price} ({change_pct}) as of {last_update}” api=”yf”].

Get ready for the Bank Automation Summit U.S. 2024 in Nashville on March 18-19! Discover the latest advancements in AI and automation in banking. Register now.