TMG Executive Summit ‘PowerHour’ jam packed with hot topics for financial institution leaders
Payments experts cover innovation, fraud, IT and digital payments in 60 minutes
DES MOINES, IA (June 29, 2016) — TMG today adapted what is typically a digital event for a live audience in the first afternoon session of its TMG Executive Summit. PowerHour, a monthly webinar conducted by the payment processor’s product and fraud teams, took to the stage instead of the Internet. The event followed its usual format, giving audience members a quick view of four topics, some operational, some strategic.
The event offered 15-minute talks by the following TMG experts: Brandon Kuehl, product development manager, Ashley McAlpine, fraud prevention manager, Corey Weeklund, director of technology infrastructure, and Brian Day, director of digital strategy.
Kuehl kicked off the session by discussing innovation and strategy with regard to financial services products. His talk included the following highlights:
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Empowering financial consumers with tools to manage their accounts, such as alerts and controls, is becoming increasingly important.
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As more orders for EMV chip cards occur, issuers should utilize inventory management tools to ensure they have enough stock.
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Token support can be simplified by using one-time passcodes, advanced provisioning technology and consumer analytics.
Talking on the latest in fraud detection and prevention, McAlpine shared her knowledge on the evolution of authentication. Audience members learned:
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With more than 642 million passwords already breached this year, basic authentication measures, such as PINs and signatures, are no longer the best defenses against fraud.
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Card processors, like TMG, are already implementing more secure authentication methods, including unique token authentication and card controls consumers can regulate.
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Authenticating consumers through biometric identifiers, such as eye prints, vein patterns or heartbeats, may be the way of the future.
Weeklund followed with a presentation on future-oriented IT strategies. Key take-aways included:
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Financial institutions should partner with card processors that are scalable for optimal results.
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Redundancy is vital for enterprise-wide systems that house cardholder and consumer information.
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By diversifying and interconnecting systems, financial institutions and their card processors can each focus on what they do best while leveraging the expertise of others for high-value, quick-to-market results.
Rounding out the PowerHour was Day with a talk on digital strategies, including the following key points:
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Consumers are increasingly seeking personalization across all digital platforms.
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Self-service banking options, such as the ability to view balances and transactions or make card payments and manage accounts, are increasingly important to busy consumers.
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Continuous communication is valuable to consumers who like real-time access to information, such as payments and orders.
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.
