Category: Banking & Consumer Trends

  • Combatting fraud with future-ready technology: A strategic imperative

    By: Sean McElroy, Chief Risk Officer, Lumin Digital First published on CUInsights, May 20, 2025 From account takeovers and wire fraud to phishing campaigns and social engineering, the threat landscape for financial institutions evolves constantly. So, it stands to reason that security and fraud detection measures must also grow and change quickly in response. Institutions…

  • The top 7 costs of standing still with banking technology

    Process flow

    Digital channels have become the backbone of today’s banking journey. Consumers expect a seamless, hyper-personalized experience across all platforms, and FIs must adapt to meet these ever-changing demands. If you are still using legacy technology or an early modern platform–originally built on-premises but migrated to the cloud–you’ve likely experienced unplanned downtime, an influx of support…

  • The High Cost of Standing Still 

    Does your digital banking experience and platform meet customer expectations? Your expectations?  Despite their potential to regain market share, CFIs struggle to keep up with the rapid pace of digital innovation. Many are limited by decades-old tech. Without making a tech switch, community FIs introduce real risk to their organizations, including adding to their tech…

  • Evolve your digital channel from a cost center to a profit center 

    Turn your channel into a growth engine Presented by Cornerstone Advisors, commissioned by Lumin Digital. Described as a $25 billion revenue opportunity, the digital channel has evolved into a strategic growth engine. With Ron Shevlin, Chief Research Officer at Cornerstone Advisors, we explore how financial institutions can, and should, transform their digital banking channels from…

  • The age of GenAI-powered fraud has arrived

    Guest blog icon

    By: Seth Ruden If you want to start getting your financial institution’s fraud team anxious about the future, you only have to say two letters: AI. Generative artificial intelligence (GenAI) is a – if not the – top-tier concern for most fraud team managers. Nearly all expect this new technology to massively disrupt their field.…

  • 2024 Credit Union Trends: What to Expect Looking Forward

    Two women working together

    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…

  • Credit Union Membership Growth Strategies

    Graph trending up

    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.…

  • Go Beyond: The Power of Data + Analytics for Banks and Credit Unions

    3 colleagues working on a computer

    Today’s banks and credit unions have just survived the massive shift towards digital-first strategies. While this transition has undoubtedly solved many challenges, it has also created a new one: how to keep up with and use the data at their disposal. Even with the tools and technology available today, many financial institutions are still hamstrung…

  • Why Banks and Credit Unions Should Care About Sustainable Banking

    Hand with coins in the palm

    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 millennials or younger. Two of the unifying values that millennials and Gen Zers share are…

  • Why Customer Segmentation in Banking Is Crucial for Marketing and Service Offerings

    Target and arrow

    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 reliable data. Even Citibank, led by tech visionary John Reed — the bank that introduced…