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Article/Blog
Digital defines banking relationships
For many users, the app isn’t just how they access their bank, it’s the relationship itself. Lisa Daniels, COO of Lumin Digital, explores why mergers expose this truth, why digital deserves the same accountability branches always had, and how AI, prioritization, and trust will define the next era of banking experiences.
Article/Blog
5 reasons financial institutions choose Lumin Digital’s commercial banking platform
Commercial relationships bring higher balances, more products, and longer retention, but many digital banking platforms were never built to support them. Discover five reasons financial institutions choose Lumin Digital’s commercial banking platform, from unified retail and commercial support to true real-time banking and a pace of innovation that keeps climbing.
Article/Blog
Loan Fraud: How To Detect and Prevent Against the Next Generation of Lending Fraudsters
Loan fraud is hitting U.S. banks and credit unions hard, both in terms of cost and operational burden. Not only does every $1 of fraud loss cost US financial services $4, but the need for lenders to detect and prevent fraud inevitably adds friction to the application process that can deter genuine end users. All…
Article/Blog
The Ins and Outs of Knowledge-Based Authentication for Identity Verification in Banking
Consumers lost over $5.8 billion to fraud in 2021, according to the Federal Trade Commission, and the threat is on the rise. Until financial institutions have a secure, reliable method for verifying account access and transactions, hackers remain ready to pounce. For banks and credit unions, securing data with additional layers of authorization is a…
Article/Blog
Customer Identification Programs 101: A Guide for Banks and Credit Unions
The customer identification program (CIP) is an essential part of the daily operations of banks and credit unions. In the U.S., financial institutions are required by the federal government to verify the identity of their customers. Implemented in 2003, CIP is a provision of the USA Patriot Act. It requires banks and credit unions to…
Article/Blog
Digital Banking Automation: Make the Manual Review Process a Thing of the Past
by Marty Aquino For many banks and credit unions, manual reviews are a mixed bag. Sure, they are sometimes entertaining for the reviewers, but as anyone who has ever experienced the process knows, they are often unnecessary. And in this increasingly digital world, traditional, analog manual reviews may not only be inefficient for your banks…
Article/Blog
A Roadmap to Predictive Analytics Tools in Digital Banking
Banks and credit unions are not only repositories of money, but of business and consumer data. Predictive analytics tools help your organization more effectively use your data to enhance business decisions, gain competitive advantages, improve satisfaction and fortify user loyalty by personalizing their experiences. Regarding user satisfaction, McKinsey indicates that U.S. retail banking end users’…
Article/Blog
How To Manage Buy Now, Pay Later (BNPL) Features
If the Buy Now, Pay Later (BNPL) feature isn’t standard yet, it won’t be too long before it is. When customers make large purchases — and even some smaller ones — they often look for this option. And it’s not just customers who are excited about the choice. Some of the largest retailers, like Amazon…
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