Bread Financial Holdings, Inc. (BFH): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos serviços financeiros, a Bread Financial Holdings, Inc. (BFH) surge como uma potência inovadora, transformando como os consumidores interagem com soluções financeiras de crédito e digital. Ao aproveitar a tecnologia de ponta e as parcerias estratégicas, a BFH criou um modelo de negócios exclusivo que atende à geração digital da primeira, oferecendo produtos de crédito flexíveis, experiências on-line perfeitas e serviços financeiros personalizados que ressoam com a geração do milênio e os consumidores da geração Z que procuram modernos, Ferramentas financeiras adaptáveis.

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: Parcerias -chave

Parcerias de processamento de pagamento de vistos e mastercard

A partir do quarto trimestre 2023, a Bread Financial mantém parcerias críticas de processamento de pagamentos com:

Parceiro	Volume de transação	Duração da parceria
Visa	US $ 42,3 bilhões no valor da transação anual	Em andamento desde 2015
MasterCard	US $ 37,6 bilhões no valor da transação anual	Em andamento desde 2017

Colaborações de parceiros de varejo

As principais parcerias de varejo incluem:

• Amazon: Programa de cartão de crédito com marca de marca, gerando US $ 1,2 bilhão em receita anual
• Walmart: Serviços de cartão de crédito que representam 18,5% do portfólio de parceria de varejo
• Target: Parceria de emissão de cartão de crédito avaliada em US $ 890 milhões anualmente

Plataformas de tecnologia financeira

Fintech Partner	Foco em parceria	Valor de integração anual
Xadrez	Integração bancária digital	US $ 215 milhões
Listra	Tecnologias de processamento de pagamentos	US $ 180 milhões

Provedores de tecnologia bancário e de cartão de crédito digital

As parcerias de provedores de tecnologia incluem:

• FIS Global: integração de tecnologia bancária principal
• Fiserv: Suporte à Infraestrutura de Pagamento Digital
• Jack Henry & Associados: soluções de tecnologia bancária

Análise de dados de terceiros e empresas de pontuação de crédito

Parceiro de dados	Serviços prestados	Valor anual do contrato
Experian	Pontuação de crédito e avaliação de risco	US $ 95 milhões
Transmunião	Análise de dados de crédito ao consumidor	US $ 87 milhões

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: Atividades -chave

Emissão de cartão de crédito e gerenciamento

A partir do terceiro trimestre de 2023, a Bread Financial administrou um portfólio de cartão de crédito com as seguintes características:

Métrica	Valor
Total de cartão de crédito a receber	US $ 5,3 bilhões
Contas de cartão de crédito ativo	Aproximadamente 3,2 milhões
Limite de crédito médio	US $ 2.750 por conta

Desenvolvimento de soluções de pagamento digital

As principais iniciativas de pagamento digital incluem:

• Integração de pagamento de aplicativo móvel
• Processamento de transações em tempo real
• Tecnologias de pagamento sem contato

Serviços de empréstimos ao consumidor

Categoria de empréstimo	Balanço total em circulação
Empréstimos pessoais	US $ 1,2 bilhão
Financiamento de ponto de venda	US $ 875 milhões

Avaliação e gerenciamento de risco de crédito

Métricas de gerenciamento de riscos:

• Taxa de cobrança líquida: 4,7%
• Taxa de inadimplência de 90 dias: 2,3%
• Provisão para perdas de crédito: US $ 312 milhões em 2023

Operações de atendimento ao cliente e suporte

Métrica de serviço	Desempenho
Interações anuais de suporte ao cliente	12,5 milhões
Tempo médio de resposta	Menos de 3 minutos
Classificação de satisfação do cliente	87%

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: Recursos -chave

Infraestrutura de tecnologia digital avançada

A partir do quarto trimestre de 2023, a Bread Financial investiu US $ 78,3 milhões em infraestrutura de tecnologia digital, apoiando mais de 62,4 milhões de contas de clientes ativos.

Investimento em tecnologia	Quantia
Gastos com infraestrutura digital	US $ 78,3 milhões
Contas de clientes ativos	62,4 milhões
Plataformas de computação em nuvem	3 principais fornecedores

Algoritmos de pontuação de crédito proprietários

O sistema de pontuação de crédito proprietário da Bread Financial processa aproximadamente 1,2 milhão de pedidos de crédito mensalmente.

• Modelos de aprendizado de máquina
• Avaliação de risco em tempo real
• Análise preditiva avançada

Experiência em tecnologia financeira

A empresa emprega 2.847 profissionais financeiros e de tecnologia em dezembro de 2023.

Força de trabalho tecnológica	Número
Total de Profissionais de Tecnologia	2,847
Cientistas de dados	387
Engenheiros de software	642

Extenso banco de dados de clientes

A Bread Financial mantém um banco de dados de 62,4 milhões de perfis ativos de clientes com históricos abrangentes de transações financeiras.

• 62,4 milhões de perfis de clientes ativos
• Rastreamento detalhado de transações
• Integração de dados multicanal

Sistemas robustos de gerenciamento de riscos

A infraestrutura de gerenciamento de riscos suporta uma carteira de empréstimos de US $ 14,2 bilhões com uma taxa de cobrança líquida de 3,8% em 2023.

Métricas de gerenciamento de riscos	Valor
Portfólio total de empréstimos	US $ 14,2 bilhões
Taxa de cobrança líquida	3.8%
Sistemas de detecção de fraude	Monitoramento em tempo real

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: proposições de valor

Cartão de crédito flexível e produtos de empréstimos

A partir do quarto trimestre 2023, a Bread Financial oferece US $ 1,2 bilhão no total de recebíveis de cartão de crédito. O portfólio de produtos deles inclui:

• Cartões de crédito de varejo
• Empréstimos pessoais não garantidos
• Compre agora, pague mais tarde (BNPL) soluções

Tipo de produto	Total de recebíveis	Limite de crédito médio
Cartões de crédito de varejo	US $ 892 milhões	$3,500
Empréstimos pessoais	US $ 310 milhões	$5,200

Processos rápidos de aplicativos e aprovação online

Estatísticas de aplicativos digitais para 2023:

• Taxa de conclusão de aplicativos on -line: 68%
• Tempo médio de aprovação: 2,7 minutos
• Aplicativo móvel Compartilhar: 47% do total de aplicativos

Soluções financeiras personalizadas

Métricas de personalização em 2023:

Categoria de personalização	Porcentagem de clientes
Limites de crédito personalizados	72%
Programas de recompensas personalizadas	65%

Taxas de juros competitivas

Camas de taxa de juros para 2023:

• Cartões de crédito: 16,99% - 29,99%
• Empréstimos pessoais: 7,99% - 24,99%
• Média de abril: 21,4%

Programas de recompensas e reembolso

Estatísticas do programa de recompensas para 2023:

Tipo de recompensa	Taxa de participação	Reembolso médio anual
Recompensas de reembolso	58%	$276
Recompensas baseadas em pontos	42%	$342

Bread Financial Holdings, Inc. (BFH) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de autoatendimento digital

No quarto trimestre 2023, a Bread Financial registrou 5,7 milhões de usuários de plataforma digital ativa. A plataforma de autoatendimento digital processou 42,3 milhões de transações digitais com um valor total da transação de US $ 3,2 bilhões.

Métrica da plataforma digital	2023 desempenho
Usuários digitais ativos	5,7 milhões
Transações digitais	42,3 milhões
Valor total da transação	US $ 3,2 bilhões

Suporte personalizado ao cliente

Bread Financial mantém um Centro de Suporte ao Cliente 24/7 com 1.200 representantes de atendimento ao cliente dedicados. O tempo médio de resposta ao cliente é de 3,2 minutos nos canais digitais e telefônicos.

Engajamento de aplicativos móveis

O aplicativo móvel da empresa registrou 3,9 milhões de usuários ativos mensais em 2023, com uma taxa de envolvimento do usuário de 68%. As transações de aplicativos móveis representaram 47% do total de transações digitais.

Métrica de aplicativo móvel	2023 desempenho
Usuários ativos mensais	3,9 milhões
Taxa de envolvimento do usuário	68%
Porcentagem de transações móveis	47%

Gerenciamento de contas on -line

Os recursos de gerenciamento de contas on -line permitem que os clientes:

• Veja os saldos da conta em tempo real
• Faça pagamentos instantâneos
• Atualizar informações pessoais
• Rastrear padrões de gastos

Limite de crédito proativo e recomendações de produto

Em 2023, a Bread Financial implementou sistemas de recomendação orientados para IA que geraram 2,1 milhões de ofertas personalizadas de produtos. Recomendações de aumento do limite de crédito foram feitas para 680.000 clientes elegíveis, com uma taxa de aceitação de 42%.

Métrica de recomendação	2023 desempenho
Ofertas de produtos personalizados	2,1 milhões
Recomendações de aumento do limite de crédito	680,000
Taxa de aceitação de recomendação	42%

Bread Financial Holdings, Inc. (BFH) - Modelo de Negócios: Canais

Aplicativo bancário móvel

A partir do quarto trimestre 2023, o aplicativo bancário móvel da Bread Financial relatou 2,3 ​​milhões de usuários ativos. O aplicativo suporta mais de 5,2 milhões de contas registradas totais com uma taxa de engajamento mensal de 68%.

Métrica de aplicativo móvel	Estatística
Downloads de aplicativos totais	4,7 milhões
Usuários ativos mensais	2,3 milhões
Volume de transação	US $ 1,2 bilhão por trimestre

Plataforma de site online

A plataforma on -line da empresa gera 42% da receita digital total, com 3,8 milhões de visitantes mensais únicos.

• Tráfego do site: 3,8 milhões de visitantes mensais exclusivos
• Participação de receita digital: 42%
• Duração média da sessão: 7,2 minutos

Marketing digital direto

O orçamento de marketing digital da Bread Financial atingiu US $ 47,3 milhões em 2023, visando 1,6 milhão de clientes em potencial por meio de campanhas digitais personalizadas.

Métrica de marketing digital	Valor
Orçamento anual de marketing	US $ 47,3 milhões
Público -alvo	1,6 milhão de clientes em potencial
Taxa de conversão	3.4%

Sites de varejo parceiros

A rede parceira inclui 127 sites de varejo, gerando US $ 283 milhões em receita colaborativa para 2023.

• Número de parceiros de varejo: 127
• Receita de rede de parceiros: US $ 283 milhões
• Taxa média de comissão do parceiro: 5,6%

Centros de atendimento ao cliente

A Bread Financial opera 6 call centers com 1.742 representantes de atendimento ao cliente, lidando com 2,9 milhões de interações com os clientes mensalmente.

Métrica de call center	Estatística
Tota de call centers	6
Representantes de atendimento ao cliente	1,742
Interações mensais do cliente	2,9 milhões
Tempo médio de resolução	12,4 minutos

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: segmentos de clientes

Millennials e Consumidores da Gen Z

A partir do quarto trimestre de 2023, a Bread Financial tem como alvo aproximadamente 72,2 milhões de millennials e 68,3 milhões de consumidores da geração Z nos Estados Unidos.

Faixa etária	Tamanho da população	Penetração de cartão de crédito
Millennials (25-40 anos)	72,2 milhões	58.4%
Gen Z (18-24 anos)	68,3 milhões	36.2%

Compradores on -line

Em 2023, a Bread Financial atende aproximadamente 164,7 milhões de compradores on -line nos Estados Unidos.

• Valor de mercado de comércio eletrônico: US $ 905,6 bilhões
• Transações de varejo on -line: 21,8% do total de vendas de varejo
• Gastos online anuais médios por consumidor: US $ 3.642

Indivíduos de construção de crédito

Bread Financial metas 68,5 milhões de consumidores com histórico limitado ou sem crédito.

Intervalo de pontuação de crédito	Número de consumidores	Participação de mercado potencial
Abaixo de 600 (crédito limitado)	43,2 milhões	22.7%
Sem histórico de crédito	25,3 milhões	13.3%

Consumidores que buscam opções de crédito flexíveis

A Bread Financial atende a 56,4 milhões de consumidores que buscam soluções de crédito alternativas.

• Tamanho do mercado de empréstimos pessoais: US $ 222,3 bilhões
• Usuários de crédito alternativo: 28,6% do mercado total de crédito ao consumidor
• Linha de crédito alternativo médio: US $ 6.750

Usuários de serviço financeiro digital primeiro

A partir de 2023, a Bread Financial metas de 87,6 milhões de consumidores de serviço financeiro digital.

Métrica bancária digital	Usuários totais	Percentagem
Usuários bancários móveis	87,6 milhões	65.3%
Usuários da plataforma de pagamento digital	76,4 milhões	57.1%

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Custos anuais de infraestrutura de tecnologia para pão financeiro em 2023: US $ 87,4 milhões

Categoria de custo de tecnologia	Quantidade de despesa
Serviços de computação em nuvem	US $ 32,6 milhões
Sistemas de segurança cibernética	US $ 22,1 milhões
Licenciamento de software	US $ 18,7 milhões
Manutenção de hardware	US $ 14 milhões

Marketing e aquisição de clientes

Despesas totais de marketing em 2023: US $ 156,2 milhões

• Canais de marketing digital: US $ 67,5 milhões
• Publicidade da mídia tradicional: US $ 44,3 milhões
• Custo de aquisição de clientes (CAC): US $ 124 por novo cliente

Gerenciamento de riscos e conformidade

Custos de conformidade e gerenciamento de riscos em 2023: US $ 63,9 milhões

Área de conformidade	Quantidade de despesa
Relatórios regulatórios	US $ 22,6 milhões
Serviços Jurídicos	US $ 18,3 milhões
Ferramentas de avaliação de risco	US $ 23 milhões

Salários e benefícios dos funcionários

Compensação total dos funcionários em 2023: US $ 412,6 milhões

• Salários base: US $ 276,4 milhões
• Bônus de desempenho: US $ 58,2 milhões
• Seguro de Saúde: US $ 44,1 milhões
• Benefícios de aposentadoria: US $ 33,9 milhões

Taxas de processamento de crédito e transação

Despesas relacionadas à transação em 2023: US $ 203,7 milhões

Categoria de custo de transação	Quantidade de despesa
Taxas de processamento de pagamento	US $ 87,6 milhões
Custos de autorização de crédito	US $ 62,3 milhões
Taxas de intercâmbio	US $ 53,8 milhões

Bread Financial Holdings, Inc. (BFH) - Modelo de negócios: fluxos de receita

Receita de juros de cartões de crédito

Para o ano fiscal de 2022, Bread Financial reportou US $ 1,413 bilhão em receita de juros líquidos. A carteira de cartão de crédito da empresa gerou uma taxa percentual média anual (APR) de 24,37% em 31 de dezembro de 2022.

Métrica	Quantia	Ano
Receita de juros líquidos	US $ 1,413 bilhão	2022
Cartão de crédito médio APR	24.37%	2022

Taxas de transação

Bread Financial gerado US $ 259 milhões em receitas relacionadas à transação Em 2022, que inclui taxas de intercâmbio e outras taxas de processamento de pagamento.

Taxas de produto do produto

A empresa informou US $ 175 milhões em taxas de produtos de empréstimo Para o ano fiscal de 2022, que inclui taxas de originação, taxas de manutenção e outros fluxos de renda relacionados a empréstimos.

Receitas de parcerias comerciais

• Receitas de parceria total de comerciantes: US $ 412 milhões em 2022
• Os principais parceiros incluem:
  • Amazon
  • Walmart
  • Parceiros de varejo de sincronia

Serviços de gerenciamento de portfólio de crédito

Bread Financial ganhou US $ 98 milhões em serviços de gerenciamento de portfólio de crédito em 2022, que inclui:

• Taxas de serviço do portfólio
• Consultoria em Gerenciamento de Crédito
• Serviços de avaliação de risco

Fluxo de receita	2022 Receita	Porcentagem da receita total
Receita de juros	US $ 1,413 bilhão	58.2%
Taxas de transação	US $ 259 milhões	10.7%
Taxas de produto do produto	US $ 175 milhões	7.2%
Receitas de parcerias comerciais	US $ 412 milhões	17.0%
Gerenciamento de portfólio de crédito	US $ 98 milhões	4.0%

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Bread Financial Holdings, Inc. delivers to its customers and partners as of late 2025. These value propositions are grounded in their dual focus: serving retail partners with branded credit solutions and offering direct-to-consumer financial tools.

Private label and co-brand credit cards for retail partners

Bread Financial Holdings, Inc. provides the infrastructure to power loyalty and sales for major brands. This means offering digitally enabled private-label and co-branded credit cards, installment loans, and buy now, pay later ("BNPL") options directly at the point of sale for their partners. You see this in their continued work with established names and expansion into new verticals.

• Delivering growth for recognized brands in travel & entertainment, health & beauty, jewelry, and specialty apparel through private label and co-brand credit cards.
• Expanded the home vertical in the third quarter of 2025 by signing Bed, Bath & Beyond, Furniture First, and Raymour & Flanigan.
• Renewed a long-term partnership with Caesars Entertainment and launched a new, fee-based credit card in the second quarter of 2025.

Simple, personalized payment, lending, and saving solutions

For the individual consumer, the value is in simplicity and personalization across payments, lending, and savings. A key component supporting this is their direct-to-consumer (DTC) funding strategy, which helps manage their overall cost of capital.

Metric	Value (as of Late 2025)	Period/Context
Direct-to-Consumer Deposits	$8.2 billion	Q3 2025
DTC Deposit Growth (YoY)	9%	Q3 2025
DTC Deposits as % of Total Funding	47%	Q3 2025
Tangible Book Value per Common Share	$56.36	Q3 2025

The company is targeting a DTC deposit base that represents half of total funding in the future.

Pay-over-time products, including Bread Pay

Bread Financial Holdings, Inc. offers pay-over-time products to provide choice and flexibility to shared customers at the point of sale. While specific volume data for Bread Pay isn't explicitly broken out in the latest reports, the product category itself is a stated value proposition alongside installment loans.

General-purpose cash-back credit cards (Comenity-branded)

Beyond the private label space, Bread Financial Holdings, Inc. issues general-purpose credit cards, including those branded as Comenity. These cards cater to broader consumer spending needs. The growth in this segment directly contributes to overall credit sales volume.

• Credit sales were $6.8 billion in Q2 2025, a 5% increase, driven by increased general-purpose spending.
• Credit sales were $6.1 billion in Q1 2025, a 1% increase, driven by increased general-purpose spending.

Enabling partner growth in travel, beauty, and specialty retail

The value proposition here is the measurable contribution to partner business expansion. The company's solutions are designed to empower cardholders and drive sales for their retail collaborators across several key consumer spending categories.

For example, credit sales growth in Q2 2025 was explicitly attributed to new partner growth. The company's overall trailing 12-month revenue as of September 30, 2025, stood at $3.79B.

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Customer Relationships

Personalized engagement driven by data and analytics

Bread Financial Holdings, Inc. serves millions of U.S. consumers with payment, lending, and saving solutions, capturing and analyzing transaction-rich data to inform customer interactions. The company's strategy relies on this data foundation to tailor offerings. The delinquency rate for accounts 30 days or more past due stood at 6.1% as of October 31, 2025, an improvement from 6.4% year-over-year, suggesting data-driven risk management is impacting customer performance positively. For the first quarter ended March 31, 2025, the delinquency rate was 5.9%.

Multi-channel communication (email, mobile, in-store, direct mail)

The communication strategy spans multiple touchpoints to reach the consumer base. Bread Financial Holdings, Inc. utilizes digital channels, including email and mobile, alongside traditional methods like direct mail. The company's payment solutions include general purpose credit cards and savings products, which are supported by these channels. The firm also delivers growth through private label and co-brand credit cards across sectors such as travel & entertainment, health & beauty, jewelry, and specialty apparel.

• Sectors served by co-brand cards include: travel & entertainment, health & beauty, jewelry, and specialty apparel.
• Direct-to-consumer deposits reached $8.1 billion as of the second quarter of 2025.
• Direct-to-consumer deposits represented 45% of average total funding in Q2 2025.

Digital self-service tools for account management

Bread Financial Holdings, Inc. is focused on enhancing self-service capabilities within its digital channels to allow customers to manage needs when and how they prefer, which also generates efficiencies. The company previously launched the Enhanced Digital Suite in October 2020 to support these efforts. The firm aims for operational excellence, which includes driving digital adoption to reduce the costs to serve customers. Analysts expect the full fiscal year 2025 Earnings Per Share (EPS) to be $6.45, reflecting operational discipline.

Dedicated customer service and collections functions

Dedicated functions manage customer service and collections, which is critical given the nature of the credit products offered. The company's credit performance is closely monitored, with key metrics reported monthly. For the month ended October 31, 2025, net principal losses were $112 million. The net loss rate for October 2025 was 7.5%, down from 7.9% in October 2024. The company's total end-of-period credit card and other loans stood at $17.7 billion in October 2025.

Here's the quick math on recent credit health metrics:

Metric	October 2025 Value	October 2024 Value
Net Loss Rate	7.5%	7.9%
30+ Days Delinquency Rate	6.1%	6.4%
Net Principal Losses (in millions)	$112	$120

Relationship management with brand partners

Managing relationships with brand partners is a core component of the business model, providing growth for private label and co-brand credit card programs. Bread Financial Holdings, Inc. renewed a long-term partnership with Caesars Entertainment in the second quarter of 2025 and launched a new, fee-based credit card with them. Furthermore, new partnerships in the home vertical, including one with Bed Bath & Beyond, are expected to fuel growth. The company also offers the Bread Rewards American Express Credit Card, launched in partnership with American Express in April 2022.

The firm recently announced a quarterly dividend of $0.23 per share, payable December 12th, which represents a $0.92 annualized dividend and a yield of 1.4% as of November 2025.

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Channels

You're looking at how Bread Financial Holdings, Inc. (BFH) gets its products and services into the hands of customers as of late 2025. The channels are a mix of deep retail integration and a growing direct digital presence.

The engine room for originations remains the retailer network. For the third quarter of 2025, credit sales reached $6.8 billion, showing a 5% increase, which the company attributed to new partner growth and higher general-purpose spending. This indicates the in-store and e-commerce point-of-sale channel is still driving significant volume. For context, customer spending on co-brand credit cards made up approximately 50% of credit sales for the full year 2024.

The direct-to-consumer (DTC) channel is a major focus for funding. As of the end of the third quarter of 2025, direct-to-consumer deposits stood at $8.2 billion, marking a 9% year-over-year increase. This digital funding source now represents 47% of Bread Financial Holdings, Inc.'s average total funding, moving closer to management's target of half of total funding. This growth helps reduce reliance on more expensive funding sources.

The mobile application serves as the primary digital interface for existing customers. While specific Bread Financial Holdings, Inc. app usage numbers aren't public, the broader trend shows that 72% of US adults report using mobile banking apps as of 2025, with 68% of millennials primarily using them. This underscores the necessity of a strong mobile experience for account access and payment management.

Co-brand partner networks are critical for both origination and revenue. Bread Financial Holdings, Inc. delivers growth through private label and co-brand cards in sectors like travel & entertainment, health & beauty, and specialty apparel. A key recent event was the renewal of a long-term partnership with Caesars Entertainment and the launch of a new, fee-based credit card in the second quarter of 2025.

The company relies on third-party service providers for core processing, which supports the scale needed to manage its approximately 38 million open and outstanding accounts (as of December 31, 2024). Revenue generation from these channels is also supported by merchant discount fees received from partners to compensate for promotional financing, such as deferred interest offers.

Here's a quick look at the channel-related financial performance as of the third quarter of 2025:

Metric	Value (Q3 2025)	Change/Context
Credit Sales	$6.8 billion	Up 5% from prior year
Direct-to-Consumer Deposits	$8.2 billion	Up 9% year-over-year
DTC Deposits as % of Total Funding	47%	Up from 41% a year ago
Quarterly Revenue	$161.00 million	Up 21.97% for the quarter
Net Income (Continuing Ops)	$188 million	Reported for the quarter
Net Loss Rate (October 2025)	7.5%	Decreased from 7.9% previous year

The digital and direct channels are showing tangible results in funding stability, evidenced by the DTC deposit growth. However, the core credit business, heavily influenced by retailer channels, is managing credit quality carefully. The October 2025 net loss rate was 7.5%, an improvement from 7.9% the prior year, but the company had anticipated a full-year net principal loss rate between 8.0% and 8.2% for 2025.

The key access points for customer acquisition and service delivery include:

• Retailer point-of-sale integration for private-label card origination.
• The online platform for general-purpose card and deposit acquisition.
• The mobile application for daily payment and account management.
• Co-brand partner agreements driving spending across travel and retail.
• The underlying third-party core processing infrastructure.

The company is clearly pushing its digital footprint. Tangible book value per common share grew to $56.36 in Q3 2025, a 19% increase year-over-year, suggesting that the capital base supporting these channels is strengthening. Finance: draft 13-week cash view by Friday.

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Customer Segments

You're looking at the core groups Bread Financial Holdings, Inc. (BFH) serves as of late 2025. This isn't just about who has a card; it's about the different financial needs they are meeting across the consumer spectrum.

The primary group consists of millions of U.S. consumers seeking payment and lending solutions. This base is served through both private label/co-brand programs and their general-purpose card offerings. For instance, credit sales for the third quarter of 2025 reached $6.8 billion, marking a 5% increase over the prior year period.

A significant portion of the customer base comes through partnerships with customers of recognized brands in specialty retail and travel. Bread Financial delivers growth for partners in sectors like travel & entertainment, health & beauty, jewelry, and specialty apparel. In the third quarter of 2025, the company expanded its home vertical by signing partners including Bed, Bath & Beyond, Furniture First, and Raymour & Flanigan.

The company also targets savers utilizing direct-to-consumer deposit products, which are a key part of their funding mix. As of the third quarter of 2025, direct-to-consumer deposits stood at $8.2 billion, up 9% year-over-year, and these deposits now make up 47% of their average total funding.

BFH manages consumers with varying credit profiles through risk models. As of September 30, 2025, the company had a higher-risk profile, with 42% of receivables originating from nonprime borrowers, defined as those with a VantageScore less than 660. This contrasts with the end of 2024, where 15% of credit card loans were in the 600 or Less category and 27% were in the 601 to 660 range.

Finally, the segment includes general-purpose credit card users, primarily through the Bread Financial general purpose credit cards. These users contributed to the $6.8 billion in credit sales seen in the second quarter of 2025, a 4% increase.

Here's a quick look at the scale and mix of the lending and funding customer bases as of mid-to-late 2025:

Metric	Value / Percentage	Reporting Period	Citation Reference
Direct-to-Consumer Deposits	$8.2 billion	Q3 2025
Direct-to-Consumer Deposits YoY Growth	9%	Q3 2025
D2C Deposits as % of Total Funding	47%	Q3 2025
Receivables from Nonprime Borrowers (VantageScore < 660)	42%	September 30, 2025
Credit Card Loans (VantageScore 600 or Less)	15%	December 31, 2024
Credit Sales	$6.8 billion	Q3 2025

The company's focus on digital self-service capabilities is intended to enhance the experience for all these segments.

• Customers served across payment, lending, and saving solutions.
• Partnerships span travel & entertainment, health & beauty, jewelry, and specialty apparel.
• New partners added in home vertical in Q3 2025: Bed, Bath & Beyond, Furniture First, Raymour & Flanigan.
• Loan portfolio stability supported by over 85% of loans contracted through 2025.

Finance: draft 13-week cash view by Friday.

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Cost Structure

The Cost Structure for Bread Financial Holdings, Inc. is heavily influenced by credit risk provisioning, funding costs, and operational technology spend.

Provision for credit losses represented a significant cost component, reported at $296 million in the first quarter of 2025, marking an 8% decrease compared to the first quarter of 2024. The net loss rate for Q1 2025 was 8.2%.

Interest expense on funding sources is a core variable cost, tied to the mix of deposits and borrowings. As of the third quarter of 2025, interest-bearing liabilities averaged $17,436 million, incurring $210 million in interest expense for the quarter.

• Direct-to-consumer (Retail) deposits averaged $8,139 million, with interest expense of $86 million in Q3 2025, representing an average rate of 4.2%.
• Interest-bearing borrowings averaged $4,001 million, with interest expense of $71 million in Q3 2025, representing an average rate of 7.0%.

Non-interest expenses saw a reduction in Q1 2025, reflecting disciplined management initiatives. Total non-interest expenses decreased by $5 million, or 1%, in Q1 2025 compared to the prior year period.

Here's the quick math on the components driving that change in Q1 2025 total non-interest expenses:

Expense Category	Q1 2025 Change (in millions)	Direction
Other expenses (including prior year debt extinguishment costs)	($15)	Decrease
Card and processing expenses	($4)	Decrease
Information processing and communication expenses	$7	Increase
Marketing expenses	$7	Increase

Employee compensation and benefits is a substantial fixed-like cost. The reported year-to-date figure for Employee compensation and benefits in the first quarter of 2025 was $897 million. As of November 2025, the estimated average annual salary for employees in the United States is $121,692.

Marketing and partner share arrangements contribute to both operating expenses and revenue generation. Marketing expenses specifically increased by $7 million in Q1 2025. Separately, revenue in the third quarter of 2025 was negatively impacted by higher retailer share arrangements.

• The year-to-date 2025 figure for Employee compensation and benefits was $897 million.
• Marketing expenses increased by $7 million in Q1 2025.
• The estimated typical annual salary range for most roles at Bread Financial Holdings, Inc. is approximately from $106,948 to $137,767.

Finance: draft 13-week cash view by Friday.

Bread Financial Holdings, Inc. (BFH) - Canvas Business Model: Revenue Streams

You're looking at the core engine of how Bread Financial Holdings, Inc. brings in money, which is fundamentally about managing credit risk and transaction flow. The revenue streams are heavily weighted toward the lending side of the business, which makes sense for a company focused on payment and lending solutions.

The primary revenue source is definitely interest and fees generated from loans. This is the bread and butter. For instance, in the third quarter of 2025, Bread Financial Holdings, Inc. reported Net interest income of $1,032 million. This income is generated while managing total interest-bearing liabilities that stood at $17,436 million as of that same quarter.

The overall top line shows some quarterly fluctuation based on credit performance and partner dynamics. You saw that Q1 2025 total revenue was $970 million. Then, in the third quarter, the revenue was reported at $971 million, which represented a slight 1% year-over-year decrease.

Other key components feeding into that total revenue include:

• Interchange fees derived from payment processing activities.
• Retailer share arrangements stemming from co-brand programs.
• Interest and fees on loans, which is the largest component.

It's important to note how these streams interact. For example, in Q3 2025, total revenue saw a decrease partly due to lower billed late fees and, interestingly, higher retailer share arrangements, which partially offset other factors. This shows the dynamic nature of the non-interest income components.

Here's a quick look at the recent quarterly financial performance to put those revenue figures in context with profitability:

Metric	Q1 2025 Value	Q3 2025 Value
Total Revenue	$970 million	$971 million
Net Income	$142 million	$188 million
Credit Sales	$6.1 billion	$6.8 billion

The bottom line shows strong performance despite the flat-to-slightly-down revenue guidance for the full year 2025. Bread Financial Holdings, Inc. achieved a net income of $188 million in Q3 2025. That's a defintely strong conversion of revenue to profit, especially when compared to the $142 million net income posted in Q1 2025.

Finance: draft the expected Q4 2025 revenue breakdown based on Q1 and Q3 trends by Monday.