Challenger bank plans to issue beta test cards to consumers in 2016
16 March 2016 – Thames Card Technology Ltd, one of the UK’s largest manufacturers of secure and non-secure plastic cards, has signed a new contract with Mondo, a start-up ‘mobile first’ bank aiming to tap into customers’ increasing use of digital technology. Mondo offers a contactless debit card paired with a mobile banking application featuring intelligent notifications, instant balance updates and financial management.
The debit cards are being issued to consumers in waves. The first 2000 alpha-cards are already in circulation working alongside the Mondo app and another 4,000 are expected to be commissioned over the next two months. Thames’ ability to deliver a scalable and personable service was a key factor in Mondo’s selection, alongside its capability to operate all stages of the card production process from one secure site.
“More consumers want instant access to their accounts and no longer see the need to visit bricks and mortar branches,” says Tom Blomfield, Founder and CEO of Mondo. “We wanted to offer a personal, transparent and easy-to-use banking service and Thames is helping us to achieve this. As a challenger bank, we are feeling our way in this process and Thames’ expertise and experience made them an ideal partner. They have helped us to bring together a range of innovative features, such as the ability to block and unblock your payment card instantly, which we have specifically designed for those of us that are prone to misplacing it. As a start-up, though, it was important for our card provider to be flexible and responsive to react to initial demand. We found that in Thames.”
Paul Underwood, Managing Director, Thames Card Technology comments: “This partnership is a great example of how physical cards and digital platforms can work together to create a great customer experience. Mondo needed an experienced yet personal manufacturer and we look forward to building our relationship and supporting the growth of the product.”
This announcement follows news that Thames Card Technology installed a state of the art secure vault to its facility in Essex. The vault stores plastic payment cards throughout the manufacturing and personalisation process. This investment has been undertaken in response to the growing demand from customers in the prepaid and debit card markets.