“On the Discover front book, 50% of Discover originations are now on Capital 1's tech platform, and we expect to be fully on our tech stack for new originations by the end of the third quarter.”

In context

“oting that the flip side of these pullbacks and the brownout has been strong credit performance and we are glad to see that playing through the system. So let's talk about returning to growth and getting on the other side of this brownout of Discover. Volume. The brownout is temporary since over time, we will bring to bear a number of capabilities as we move Discover originations and existing customers to Capital 1. Technology. Getting Discover onto Capital 1's technology will allow us to unleash our models, full spectrum underwriting, and lean into spender capabilities. To power more originations, higher spend volume, and, ultimately higher loan volume over time. And so we remain excited about the longer term potential And let me just talk a little bit about where we are on that journey. On the Discover front book, 50% of Discover originations are now on Capital 1's tech platform, and we expect to be fully on our tech stack for new originations by the end of the third quarter. And we are now leaning into a combination of testing and rolling out capabilities that have powered our card growth at Capital 1 and that we believe will be enhancing to the Discover book. And the Discover you know, new flow of applicants. We are already seeing several positive green shoots. But it is early. But the our early read is confirmatory of our hopes there. On Discover's back book, we will begin the major conversion waves later this month. But we will not be fully on Capital 1's tech stack until the first quarter of next year. And so we will have to wait a bit longer to see these benefits fully manifest. Basically, we are reminded we are, you know, migrating the remainder of the back book in waves a wave in July, a wave in October, wave in January. So these will go in phases. Wit”