Audience: Credit Unions
What it takes to secure an always-on digital banking platform
By: Sean McElroy As first seen in the Forbes Tech Council, November 21, 2024 Whether consumers know it or not, digital banking providers are essential partners for financial institutions. They deliver transformational, forward-thinking tools to help consumers manage their financial lives and grow their relationships with financial institutions. They are also critical infrastructure providers securing the…
Financial institutions can bolster member security with passkey technology
By: Sean McElroy, Chief Risk Officer, Lumin Digital First published in Credit Union Times, May 27, 2024 Credit unions and other financial institutions count cybersecurity among their top business concerns amid an ever-changing technology landscape. Not only is cybersecurity foundational to operations, but it is also critical to maintaining customer trust. Traditional two-factor authentication methods…
Cloud-native or cloud-migrated: why it matters to the future of digital banking
Cloud-native or cloud-migrated applications; the approach matters in today’s digital banking environment. Cloud-native solutions, purpose-built for modern cloud environments, enable scalability, agility, and seamless updates, making them ideal for digital banking’s fast-paced demands. In contrast, while beneficial for transitioning legacy systems, cloud-migrated applications often fail to utilize cloud capabilities fully. Learn how the right approach…
Delivering on the promise of a future-ready platform
Credit unions are built on a mission of empowerment, prioritizing community investments, financial education, and unmatched support for their members. But today, delivering these personalized services increasingly requires cutting-edge digital capabilities. One forward-thinking credit union set out to level up its digital offerings to ensure every member could experience financial well-being—no matter where or how…
Lumin Digital is transforming the fintech industry
In a global economy reliant on digital transactions, the digital banking industry safeguards the financial lives of individuals and businesses and the efficiency, security, and accessibility of fiscal data and systems. And yet, the industry has accepted standards that are no longer acceptable in today’s mobile, tech-driven world. Pioneers like Amazon and Netflix have set…
Leveraging AI’s impact to data privacy as a strategic advantage
As first seen in the Forbes Tech Council Newsletter, Jul 5, 2024. By: Sean McElroy, Chief Risk and Security Officer, Lumin Digital.
Future-Ready: How AI is shaping the future of fintech
In all industries, from entertainment and media to business and finance, the rapid advancement of artificial intelligence (AI) will soon transform how services and goods are delivered, experienced, and optimized. Financial institutions, particularly, are on the brink of a new technological era, investing significantly in their digital offerings. Every day, a new solution backed by…
Metrics that matter when evaluating your digital banking platform
Data from the 2023 Forbes Advisor U.S. Consumer Banking Statistics study quantifies what we intuitively know to be true; the importance of digital banking as a part of the financial institutions’ offering is on the rise, with 78% of Americans now preferring to do their banking via mobile app. The rise of the neobanks further underscores the…
The 6 essential questions to ask when evaluating a digital banking provider
The best digital banking solutions enhance consumer experiences and loyalty, drive growth and ROI, and help the financial institution stay competitive with other financial institutions vying for the same consumers, including giant commercial banks, community banks, credit unions, and neobanks. A recent survey with the American Bankers Association shows that mobile app banking is the…
2024 Credit Union Trends: What to Expect Looking Forward
The landscape within the banking industry is rapidly changing for credit unions in 2024. Traditionally hailed for their exceptional customer service, credit unions are facing increased competition from banks keen on expanding their services to maintain or enhance market share. The days of relying solely on a reputation for in-person service or serving as the…