The Lumin Lab

All the latest news, insights, and thought leadership content distilled, and carefully crafted, by our industry experts.

Part 2 of our Tech-Enabled or Tech-Empowered Series How forward-thinking organizations are reshaping how they empower technology—beyond the digital banking platform—to enable better ongoing support for banks and credit unions. Customer service is at the very heart of banking. While…

Part 1 of our Tech-Enabled or Tech-Empowered Series How forward-thinking financial institutions are shifting the way they empower technology—beyond their digital banking platform—during the implementation process to create better experiences for all. For banks and credit unions, a digital banking…

San Ramon, Calif. — Nov. 22, 2022 — Lumin Digital has announced a new multi-year partnership with Missouri-based Vantage Credit Union (Vantage), supporting an enhanced online banking experience for more than 70,000 Vantage members via Lumin’s cloud-based online and mobile…

San Ramon, Calif. — Nov. 17, 2022 — Lumin Digital announced today that California-based SESLOC Federal Credit Union has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Starting in February 2023, Lumin will support the credit…

How a different way of thinking about technology and a willingness to embrace it beyond your digital banking platform can help your financial organization step ahead. In 1994, Bill Gates said a phrase that turned out to be prophetic. He…

San Ramon, Calif. — November 3, 2022 — Lumin Digital announced today that SELCO Community Credit Union (SELCO) has launched Lumin’s cloud-based online and mobile digital banking platform for its more than 150,000 members. Through partnering with Lumin, SELCO will provide its…

Lumin Digital, a leading fintech company specializing in digital banking solutions, hosted its inaugural, two-day User Group meeting with more than 30 clients at its San Ramon headquarters. The purpose of the meeting was to share advanced technology strategies in…

San Ramon, Calif. — October 24, 2022 — Lumin Digital (Lumin) has announced a partnership with BioCatch, the pioneer behavioral biometric technology enabling advanced fraud prevention. This partnership provides Lumin's rapidly growing network of financial institutions access to BioCatch's cutting-edge…

San Ramon, Calif. — October 6, 2022 — Lumin Digital announced today that Tennessee-based UT Federal Credit Union (UTFCU) has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Lumin will support UTFCU’s more than $460 million…

San Ramon, Calif. —September 27, 2022 — Lumin Digital announced today that Arizona-based American Southwest Credit Union (ASCU) has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Lumin will support ASCU’s 30,000 members and…

San Ramon, Calif. — September 22, 2022 — As a part of its commitment to constant improvement and evolution, Lumin Digital (Lumin) has announced new improvements and changes to its User Interface with the introduction of a Glassmorphic Interface (Glass…

San Ramon, Calif. — September 19, 2022 — Lumin Digital announced today that Pennsylvania based Citadel Credit Union has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Lumin will support Citadel’s 245,000-plus members and $5 billion…

San Ramon, Calif. — August 17, 2022 — Lumin Digital announced today that Utilities Employees Credit Union (UECU) has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Lumin will support UECU’s more than 47,000 members and…

San Ramon, Calif. — July 21, 2022 — Lumin Digital announced today that Tennessee-based Cornerstone Financial Credit Union has signed a multi-year agreement for Lumin Digital’s cloud-based online and mobile digital banking platform. Lumin will support Cornerstone’s 45,000-plus members and $550 million in…

The “member experience” has always been a founding principle of credit unions. That personal relationship has been where credit unions have excelled compared to other financial institutions. But as our world has become increasingly more digital, so has banking, and…

Oh, the application process. We can’t avoid it, and yet, we can’t quite seem to fix it. It’s just one of those things that continues to be a bottleneck for banks and a test of patience for customers. But as…

by Pamela Michaels Fay While customer loyalty programs in the banking industry are far from new, they’ve certainly evolved. Today’s customers are too young to remember the late ’60s when receiving a toaster for depositing money into a checking account…

by Pamela Michaels Fay When most people think about growing their business, they’re likely referring to scale. Scale and growth, in the context of business, are two terms that are often used interchangeably but are, in fact, fundamentally different. When…

Crypto. Bitcoin. Ethereum. Blockchain. Decentralized currencies. All of these buzzwords can fit under the umbrella of cryptocurrency.  The vast majority of cryptocurrencies are decentralized systems built on blockchain technology via a distributed ledger enforced by legions of computers worldwide. The…

User retention techniques are constantly evolving. Before computers, it meant in-person visits complete with glad-handing bank and credit union users. And, perhaps there was hot coffee, and tasty locally-made donuts offered to users on Fridays to set your branches apart…

San Ramon, Calif. — June 16, 2022 — Lumin Digital announced today that North Jersey Federal Credit Union (NJFCU) has signed a multi-year agreement for Lumin Digital’s cloud-native platform for online and mobile digital banking solutions. Starting in July, Lumin Digital will support…

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…

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…

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…

Kyle Evans is a Senior Site Reliability Engineer (SRE) for Lumin Digital. He works with Payam Nael, an SRE team manager. The job they do is both demanding and rewarding, though largely invisible to users. Payam is quick to remind…

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…

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…

Today’s end user demands a seamless digital banking experience, an option that is easy to find these days. To stay competitive, banks and credit unions need to capitalize on any opportunity to increase efficiency and eliminate friction. Elsewhere, we’ve explored…

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…

San Ramon, Calif. — May 25, 2022 — Lumin Digital announced today that Tennessee-based Ascend Federal Credit Union (Ascend) has signed a multi-year agreement for Lumin Digital’s cloud-native platform for online and mobile digital banking solutions. Lumin Digital will support Ascend’s more than…

Digital banking is on the rise. So too is digital fraud. Fortunately, today’s biometric authentication lets banks and credit unions know who’s on the other end of a remote transaction. That could be great protection for the nearly 215 million…

by Fred Decker Banks and credit unions have a lot of experience at fine-tuning customer service in physical branches. It’s tangible stuff, easy to see and act on. Do you have enough windows open and staffed, or are users waiting?…

San Ramon, Calif. — May 16, 2022 — Lumin Digital, a PSCU company, announced today that Hawaii State Federal Credit Union (Hawaii State FCU) has signed a multi-year agreement for Lumin Digital's cloud-native platform for online and mobile digital banking solutions. Once Hawaii…

by Marty Aquino Sustainable banking is an opportunity to strongly appeal to the largest, most populous generations. In 2019, according to the Pew Research Center, millennials outnumbered boomers. Further, according to the Brookings Institution, more than half of Americans are…

Banks and credit unions have been using customer segmentation strategies forever. It’s also been a challenge to devise useful strategies. That’s because financial institutions were limited by clunky back-end legacy systems that made it difficult, if not impossible, to get…

San Ramon, Calif. — May 11, 2022 — Lumin Digital, a PSCU company, announced today that Pennsylvania-based APCI Federal Credit Union (APCI FCU) has signed a multi-year agreement with Lumin Digital for its cloud-native platform for online and mobile digital banking solutions. When…

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