Financial institution clients grow alongside processing partner TMG
DES MOINES, IA (February 1, 2016) — The card-issuing partners of payments processor TMG (The Members Group) grew their credit and debit portfolios by 15 percent on average in 2015. In addition, overall spend on all credit and debit cards processed by TMG was up 32 percent year-over-year. TMG’s leadership attributes its clients’ success to the processor’s own growth and evolution, as well as its focus on collaboration with forward-thinking credit unions and community banks.
“The financial institutions that have selected TMG as a processing partner are progressive, innovative and tenacious in their pursuit of growth,” said Shazia Manus, CEO of TMG. “Their ideas and expertise work in concert with that of TMG’s to produce outstanding experiences for the consumers they serve, and that translates to growth.”
Manus says TMG’s business goals, product offerings and data-driven consultation are designed to help financial institutions navigate a rapidly changing financial ecosystem. This is critical in a time when technology and innovation are reshaping the experience consumers expect from their credit unions and banks. Ninety-eight percent of TMG’s credit clients have successfully converted their mag-stripe cards to EMV chip cards; 40 percent have either completed the same or are in process to completion on the debit side. As for digital wallets, 75 percent of TMG’s clients have enrolled in at least Apple Pay, if not also Android Pay and Samsung Pay.
Client success has translated into success for TMG, which now serves seven of the 13 largest U.S. credit unions. In 2016, TMG will more than double conversions (new and/or current partners moving card programs from another processor) as compared to 2015. In 2015 alone, the company improved revenue by more than 20 percent, positioning the processor for investment in future technology. In addition, TMG saved its issuing partners more than $40 million in potential fraud losses, a 31-percent increase over 2014 fraud savings.
TMG’s staff, which grew by nearly 30 percent in 2015, makes up what Manus describes as a strong organizational foundation for the future. Employees of TMG and its sister companies are happy, as evidenced by parent organization Affiliates Management Company’s second consecutive year on the Top Workplaces list. It’s a distinction given by The Des Moines Register based on employee surveys.
“The most important part of TMG’s growth story is we accomplished all this while staying true to our core values and fulfilling our brand promise of making life easier,” emphasized Manus, who cited a 99-percent contract renewal rate, which the company has enjoyed for 10 consecutive years.
Both clients and cardholders continue to report excellent experiences as a result of working with TMG staff.
According to TMG’s 2015 client satisfaction survey, 80 percent or more of responding clients are satisfied to very satisfied with each of the following:
- Responsiveness to trends and consumer demand
- Innovation and technology to help financial institutions stay competitive
- Commitment to developing products for future needs
“The payments industry experts who work at TMG are excellent at spotting the trends and anticipating the challenges facing our clients,” said Manus. “Our product team brings customized solutions to our clients often before they even know they need them. Our clients are not only receptive; they are eager to try new things, volunteering for pilot programs, participating in our client advisory groups and challenging our teams to help overcome the most pressing competitive threats. That’s how our partnerships continue to produce measurable, meaningful results for our clients.”
Cardholders, too, report high satisfaction with a variety of omnichannel interactions with TMG’s consumer services division. Ninety-three percent of surveyed cardholders were satisfied to very satisfied with the clear and knowledgeable answers they received from live agents. Ninety-one percent of cardholders were satisfied to very satisfied with the ease of navigation inside TMG’s IVR system, a 10-percent improvement from 2014. Ninety-six percent of cardholders were satisfied to very satisfied with TMG’s ability to quickly contact them on behalf of their credit union or bank after a potentially fraudulent transaction occurred, and 97 percent were satisfied to very satisfied with the fraud detection service.
“TMG is an extension of our own team, working to advance our portfolio objectives with innovative tactics and holistic management,” said Mike Terzian, SVP and chief marketing officer for Partners Federal Credit Union, who notes the cast and employees of The Walt Disney Companies who Partners serves are accustomed to high-quality interactions and exceptional experiences. “Through our partnership, we have increased our capabilities and extended payment services far beyond the traditional plastic. As a result, our payment strategy is thriving with both checking accounts and credit cards experiencing significant growth.”
“Since partnering with TMG in 1997, our credit card product has evolved from just another service to a robust offering with serious impact on our bottom line and our member experience,” said Dave Cale, president and CEO of Financial Plus Credit Union. “With each passing year, the TMG team presents new ideas for stepping up our payments game. Recently, we’ve engaged in the company’s Portfolio Management Solution Services to recharge our credit card program. We’re in the process of implementing quite a few of TMG’s recommendations and look forward to rolling them out to our members yet this year.”
TMG is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.tmg.global.