As quickly as your business changes, you need a partner who can help you keep up and stay ahead of those changes. TMG offers you informative white papers to provide a library of resources on a multitude of subjects affecting your business.
All white papers are offered in a downloadable Adobe Acrobat (PDF) format. If you do not have Adobe Reader, it is available to download for free.
U.S. Participates in the Global Fight Against Card Fraud
Counterfeit credit card artists know the score. EMV chip cards are coming to the United States, and very soon the business of duplicating plastic – an $11 billion business – will be all but extinct. Yet, these nimble con men and women are not about to give up on the lucrative payment fraud business. Instead, they will redirect their energy, focusing it squarely on the digital universe.
America’s Next Step in EMV: Debit Cards
For a time, it was safe for a community financial institution (FI) to focus its EMV migration plan on the credit card line alone. With so much up in the air on the debit side of the coin, FIs were right to take a wait-and-see approach with their debit portfolios. That’s about to change. The U.S. is now ready for chip debit cards to support the EMV standard, and FIs should begin to assemble their teams and design their roadmaps now.
The Mobile Payments Ignition Point
Even the most influential disruptor in the emerging payments landscape has to confront one powerful principle: Consumers continue to view financial institutions (FIs) and card issuers as trusted providers for emerging payments solutions.To bring mobile payments to the inevitable (albeit long-awaited) ignition point, tech developers and issuers will have to link up. Host Card Emulation (HCE) technology may be just the innovation to grease the wheels for such a marriage.
Unspooling the Payments Value Chain
Today, evolving consumer behaviors are no doubt changing the way your financial institution (FI) serves and builds relationships with customers. It wasn’t all that long ago when consumers clamored for FIs that offered convenient ATMs. Today, individuals are more likely to be attracted to services and technology rooted in mobility or personalization.
What Card Issuers Need to Know about Card-Not-Present Fraud
Known best in the payments industry by its acronym CNP, card-not-present fraud is generating quite a bit of chatter in financial and payments circles today. Much of the talk centers on the link between greater global use of the EMV standard and rising CNP fraud. The connection is legitimate, as counterfeiting artists have a much more difficult time duplicating chip cards than they do cards with a magnetic stripe.
Empowering Cardholders to Help Prevent Card Fraud
When several popular retailers recently announced their payment systems had been hacked, media outlets throughout the country were hooked on the story. Reporters, producers and bloggers quickly learned they were able to localize the news by talking with area financial institutions (FIs) and residents who had shopped at the popular chain stores during the holiday season. Fresh stories were published seemingly every hour for weeks, and the coverage continued for several months.
Biometric Authentication Heading for Payments Space
In fall 2013, Apple impressed the mainstream consumer world by equipping its latest smartphone device, the iPhone 5s, with fingerprint identification. For financial institution leaders charged with innovating to meeting changing consumer expectations, authentication methods will be an important area on which to keep a bead. The iPhone’s fingerprint scanning technology provides a good test of the market.
Fraud Prevention is a Must Have this Holiday Season
The average shopper plans to spend about $737 on holiday items, and with an unprecedented number of stores open on Thanksgiving Day, they’ll have a much easier time doing it. For community financial institutions (FIs) that issue credit and debit cards, this is prime season to achieve top-of-wallet status. In fact, many FIs are leveraging marketing promotions and optimization strategies to make that happen. Among those strategies is modifying certain fraud-prevention restrictions.
The Data Analytics Experience
Data analytics is a long-term strategy. Results can take many months to appear. Yet the financial institution (FI) leaders who have recently tapped into the power of data analytics will tell you there's value even in the preparation and practice of business intelligence strategies. These leaders report it's an eye-opening experience that has the potential to change an FI's entire culture of decision-making.
Strategic Planning's Big Questions
It's the most important question facing today's community financial institutions (FIs): Who are we? For some, the answer may seem obvious. A simple read-through of the FI's mission and vision statements or a regurgitation of the boilerplate will get them to a quick response. Does that, however, offer the most complete picture?
Data Analysis Points the Way Forward for Card Management Teams
Data analysis, the scientific business intelligence strategy employed by each of today's major financial institutions (FIs), is quickly becoming a go-to strategy for credit unions and community banks.
How the CFPB Will Impact Your Community Financial Institution in 2013
When it comes to two key lending programs, credit cards and mortgages, the Consumer Financial Protection Bureau (CFPB) will soon have significant say in how even small financial institutions (FIs) interact with consumers.
The EMV Roadmap:
Designing Your Financial Institution's Plan
With liability shift timlines in place, financial institutions may feel compelled to implement EMV immediately, however, it’s important to understand these timelines are suggestions and are not mandated.
Three Areas of Focus for P2P Integration:
In a new white paper published by Brian Day, TMG Dwolla product leader, discusses best practices for community financial institutions (FIs) integrating a person-to-person (P2P) payment solution. Day’s recommendations are based on three crucial elements: customer experience, branding impact and ease of integration..
The Gen Y Power of Prepaid:
Reloadable and Gift Cards Work Together to Fill Age Gap
This white paper explores the power of prepaid products to draw business from students and their parents. Reloadable and gift cards, the paper argues, help community financial institutions solidify existing relationships and attract new customers by tapping the products' ability to offer financial freedom.
The Choice is Yours:
How Photo Cards Deliver for Both Cardholders and Card-Issuing finanical Institutions
Cardholders aren't the only ones with choices in photo card programs, issuers have choices too. This white paper explores four areas that provide issuers with strategic choices: cardholder behavior, fees, image libraries and approval procedures.
Turn Mobile Phone Users into Fraud Crime Stoppers
Relied on by millions of people every day, text alerts are a powerful weapon in any fraud-fighting arsenal.. This whitepaper, authored by Karen Postma, cards risk senior manager, outlines four misconceptions that have made some financial institutions (FIs) hesitant to implement fraud text alerts. Postma addresses these preceived obstacles and summarizes the potential advantages for FIs that provide this simple, non-invasive way for cardholders to help prevent fraud.
Credit Card Portfolio Best Practices for the Modern Payments World
To optimize your credit card portfolio, this white paper reveals the four areas credit card program managers should focus on to create strategies that build solid, sustainable credit card programs. These four areas include, risk tolerance, card activation and usage strategies, inactive accounts management and promotional programs.
When the Grass Really is Greener:
Evaluating Your Processing Partner at Renewal Time
To assist financial institutions undergoing a card-processing contract renewal, this white paper discusses 11 important questions card managers may want to ask of their teams. Authored by Lesley Hastings, TMG director of new client partnerships, the white paper underscores the importance of several qualities TMG deems important to the financial institution-processor partnership.
The Road Ahead
Four Very Important Competencies for Community FIs in 2012
Shazia Manus, CEO of The Members Group, names the four areas on which she believes community financial institutions (FIs) will focus in 2012. A former credit union CEO, Manus predicts that leadership at community FIs will push their teams to develop competencies in: 1) profitability, 2) efficiency, 3) product/service mix and 4) deeper customer relationships. Manus goes on to explore each of the four areas of focus, sharing what tactics she believes will be popular among FI CEOs.
Learning the Language of America's Youth
To lower the average age of your customers, consider the country’s youngest people – Hispanics.
In this white paper, community financial institutions (FIs) are encouraged to look at the Hispanic market for acquiring younger customers. The paper discusses best practices for reaching a Hispanic youth audience, including marketing and community relations tactics, product implementations and financial education programming.
The Whole Picture
How Cardholder-Level Data is Changing the Way Card Managers Make Decisions
Many issuers generate profitability reports, to help them understand portfolio performance, but do those reports show the whole picture? This white paper examines how cardholder-level data is changing the way card managers make decisions to fine-tune portfolio management. It covers the importance of being able to access the information quickly and in an easy-to-decipher format using tools like TMG ClearTrend, a cardholder-level analysis solution that communicates numbers as pictures, leveraging the power of human perception to make better sense of business data.
Are Your Cardholders About to Bust Out?
Tips on Spotting, Preventing and Recovering From 'Bust-Out' Card Fraud
A form of first-party fraud also known as “sleeper fraud,” bust-out fraud is breaking out in a major way and card-issuing financial institutions need to pay closer attention to the risk. In this white paper, we examine red-flag warnings and prevention methods, including education, cohesion between FI departments and frequent refreshing of credit scores to help FIs protect themselves.
Self Service as Customer Service
How Mobile Banking Helps Financial Institutions Follow the Customer's Lead
For financial service professionals who have lived and breathed the high-touch fundamentals of customer service, it may be time to flip the switch on that line of thinking. In this white paper, we explore the top five mobile banking activities, and how consumers are accessing this information on their smartphones. It also provides an analysis of the benefits mobile banking provides financial institutions, sharing customer service cost figures on a per-engagement level.
Getting Down to Business
How Financial Institutions Can Attract and Retain Business Clients with
Consumers are excited about reloadable prepaid cards. But for community-based financial institutions, there exists an even larger target for this emerging product – business owners. In the white paper, TMG's Konrad Christensen explores the use of reloadable prepaid cards as an alternative to payroll checks, which can give the issuing FI access to people it may never have reached otherwise.
Maintaining Your Foothold in the Payments Ecosystem
Stay relevant to the consumer by integrating alternative payments technology.
There’s a frightening reality facing today’s financial institutions – they may no longer be integral to the movement of money. This white paper shows how community financial institutions can link with emerging alternative payments providers to maintain their foothold in everyday financial transactions.
Fraud White Paper Three-Part Mini Series
Strategies and tips for your financial institution to prevent fraud and protect your cardholders' information.
In this three-part mini series, TMG provides information about common fraud threats faced by many financial institutions. You'll learn about strategies for preventing and detecting economic hardship fraud, how card fraudsters are going back to old-school methods and finally, why the summer months present a hot-bed opportunity for card fraudsters.
Do Your Homework; Pass the Exam
Satisfying the NCUA with Vendor Selection Due Diligence
This white paper focuses on the NCUA guidelines for vendor selection due diligence with step-by-step guidance and practical advice for navigating the tasks and time involved with selecting a card processor. As an added bonus, TMG is also providing a sample RFP to help you in your vendor selection process.
Taking a Step Into the Gift Card Market
Gift Cards for the Holidays and Beyond
This white paper addresses the evolving gift card market and why every financial institution should consider it sooner than later as a viable payment strategy for growth.
Rewarding Your Members
Reinvent Your Credit Union's Rewards Program
This white paper explores options for making your plastic rewards programs stand out, increase cardholder usage and inspire further loyalty to the financial institution.
Reloadable Cards - It's All in the Marketing
A Credit Union's Guide to Marketing a Reloadable Card Program
This white paper will provide you with a better understanding of how prepaid products, reloadable VISA branded debit cards in particular, are a great way to reach the travel, teen and underserved markets.