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Actionable consumer insights, predictive modeling, portfolio consulting comprise TMG’s comprehensive solution
(Des Moines, Iowa – October 19, 2016) – “Imagine how difficult it would be to drive a car blindfolded,” TMG’s Jennifer Davis recently challenged an audience of credit card portfolio managers. “In today’s hotly contested race for cardholder loyalty, data analytics are as essential to a credit card issuer as vision is to a driver.”
To provide its issuer clients with that vision, payments processor TMG has launched or enhanced several data analytics solutions for its credit and debit card issuing clients.
According to Davis, who serves as TMG’s vice president of SmartGrowth, TMG offers its financial institution clients hundreds of reports for both credit and debit platforms via TMG’s patented Springboard application. The reports include descriptive data from a wide range of operational areas from fraud and dispute to cardholder service call summaries. Many of these reports gather cardholder-level in addition to portfolio-level metrics. Credit and debit cards teams can filter reports based on a large number of available parameters.
Further descriptive analytical reporting is offered through TMG’s SmartLook portfolio analytics solution. “A highly interactive tool, SmartLook offers reports that showcase patterns, trends and segmentation for a deeper understanding of portfolio performance and cardholder activity,” said Davis. “It allows issuers to assess the health of their portfolios so decisions on corrective action can be made quickly and intelligently.”
The tool, which provides complete, cardholder-level pictures, allows payments teams and other leaders both “snapshot” and “trending” reports. SmartLook end-user functionality includes the ability to filter, highlight key segments within the report, drill down and drill through on data points.
Davis says SmartLook helps issuers readily identify the strengths and weaknesses of their card portfolios so they know where to spend their time and which cardholders to target for increasing activation, usage and balances.
TMG clients interested in working with a strategic partner to turn insights into action have access to the payment processor’s SmartGrowth portfolio strategy team. Led by Davis, this team offers strategies on how to treat each segment of a financial institution’s credit or debit portfolio to create the greatest value for cardholders. “Essentially, we help cards teams on the client side put their portfolio metrics into context. Our goal is to enable smarter decisions about the consumer segments they are targeting to enhance the portfolio’s profitability.”
“A major focus for TMG is pushing beyond descriptive data analytics to deliver our financial institution clients predictive – and even prescriptive – analytics,” said TMG Chief Technology Officer Pam Brodsack. “As consumers become accustomed to hyper-personalized experiences, especially from member- and customer-centric organizations like community financial institutions, knowing precisely what they need and when is critical. We want to make it as simple as possible to gain, and most importantly, act on those insights.”
To that end, TMG is offering its financial institution clients access to predictive models that include insights on the expected behavior of both cardholders and members or customers who do not yet own a credit or debit card issued by the credit union or community bank. Pairing core banking data with TMG’s transactional data provides the issuer with a probability score for each member or customer. That score indicates the likelihood of any number of behaviors or activities, such as likelihood to leave the financial institution in the near future.
“Our predictive analytics team is also developing of a consumer lifetime value score to complement TMG’s attrition score,” said Brodsack. “Together, the models will allow our clients a deeper dive into the desires, behaviors and even triggers that cause certain behaviors. With this information, they’ll begin to understand the actions they need to take to generate the outcomes they want. TMG’s SmartGrowth portfolio strategy team will play an important role in turning those insights into action.”
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.
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