Audience: Credit Unions
Cloud-native or cloud-migrated: why it matters to the future of digital banking
Digital banking tech has evolved significantly as the cloud infrastructure has matured. Legacy systems, originally built on-prem were migrated to the cloud. These early modern tools, while delivering a better experience than legacy systems, were not able to fully deliver on their promises. Cloud-native solutions, purpose-built for modern cloud environments, enable scalability, agility, and seamless updates,…
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…
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…
Crafting the Future of Finance: A Comprehensive Guide to Mobile Banking App Development
The landscape of the banking industry is shifting, especially after the pandemic, and the old ways of doing things aren’t cutting it anymore. Mobile banking app development is stepping up as a vital resource, offering a bridge between traditional financial services and the needs of tech-savvy iOS and Android users. This isn’t just a trend;…
Mastering the Game: Leveraging Analytics in Banking for Competitive Edge
The rise of digital banking platforms marks a significant shift in the financial landscape. With this digital transformation, financial institutions are not just transitioning to online spaces; they’re also amassing vast amounts of raw customer data. This data opens up unprecedented opportunities for understanding customer needs and preferences. In the fintech era, the key to…
Credit Union Membership Growth Strategies
Credit unions are member-owned financial cooperatives that provide a range of financial services to their members. These cooperatives focus on providing quality services at affordable rates to their members because, unlike traditional banks, they are not-for-profit organizations. They operate on a principle of shared ownership, where each member has a stake in the union’s success.…
Identity Matters: The Importance of Customer Identification Programs in Banks and Credit Unions
Discover why implementing a robust customer identification program (CIP) helps your financial institution ensure regulatory compliance and enhance customer trust. Whether you’re a large multinational bank or a local community credit union, all financial institutions have one thing in common: they must have a clear picture of who they are doing business with. Established by laws…