New TMG technology helps credit and debit card issuers better manage EMV chip card inventory
Daily plastic stock details and forecasting feature help TMG clients stay ahead of reordering challenges
DES MOINES, IA (March 15, 2017) — Payments processor TMG today announced the availability of a new web-based tool to help credit unions and community banks better manage their plastic card stock. It’s a task that has become more complicated for many financial institutions in recent years as global demand for EMV chip plastic has increased.
Inventory Management is an enhancement to TMG’s proprietary, web-based cardholder account management application, Springboard. The tool displays daily plastic and collateral stock information in an easy-to-understand interface. It gives TMG clients a comprehensive, on-demand view of program images and settings, including chip, card, card carrier and PIN mailer details. Typically, this level of information is not available to financial institution issuers.
Renee Sanders, AVP of loan services for Purdue Federal Credit Union, and her team participated in the Springboard Inventory Management pilot. “This tool will greatly improve our ability to make smart choices when it comes to reordering plastic stock. We’ve enjoyed being able to see what we have on hand currently, as well as see into the future with the rolling six-month forecast,” said Sanders.
The tool sends automatic alerts to issuers when stock is low and features an advanced monthly forecasting calculator. Up to 18 months of inventory is stored in the system to help cards teams confidently make reorder decisions.
“The ability to search for specific stock by type and number has also been incredibly valuable. We really enjoy the visual verification of our products,” said Sanders. “Being able to see the images of all our carriers, inserts and cards has been an added bonus the team has really enjoyed.”
“The rapid creation and rollout of this tool was possible because of TMG’s iterative product development culture,” said TMG CTO Pam Brodsack. “Agile, quick development and enhancement of technology is a capability we are intentional about honing for the direct benefit of our credit union and community bank clients. Consumers demand it of them, so we demand it of ourselves.”
About TMG
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.
