Category: Digital & User Experience

  • The digital banking channel: Making it a profit center

    Written by Ron Shevlin, Chief Research Officer, Cornerstone Advisors — Commissioned by Lumin Digital For community banks and credit unions, the digital channel has become a cost of doing business. But what if it could become a profit center instead of a cost center? Shifts in consumer behavior, competitive pressures from fintechs, and, most importantly,…

  • Human-inspired digital banking design engages users and builds long-term digital relationships 

    Users are looking for and expecting intuitive, human-centered, and deeply personalized experiences that evolve as their expectations and financial needs shift. At Lumin Digital, we believe the key to delivering on that expectation is continuous activation. What is continuous activation? At its core, continuous activation is about creating ongoing value that evolves as the user’s…

  • Designing a better user experience that drives double-digit engagement and adoption rates

    Evaluating how users manage their accounts Lumin Digital’s User Experience (UX) team monitors and evaluates user data from over 5M users to uncover opportunities to improve the digital banking experience and provide additional value to end-users. Lumin’s UX team discovered an opportunity to rethink how digital banking users interact with their accounts and set their…

  • 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…

  • Cloud-native or cloud-migrated: why it matters to the future of digital banking

    A woman in a white sleeveless top looks at her phone while standing next to a bright digital display in an urban setting at night.

    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,…

  • Banking on innovation: The digital solutions shaping customer experience

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    The future of digital banking is not just approaching; it’s here. It’s a world where convenience, personalization, and innovation blend seamlessly. Banks and credit unions are at the forefront, enhancing customer experiences with cutting-edge technologies. Investing in these technologies is not just about staying ahead; it’s about delivering tailored, user-centric experiences that truly connect with…

  • Bringing human interactions to digital banking

    Woman checking phone at coffee shop

    Consumers expect more engaging and thoughtful digital interactions as physical branch visits decline. To meet these expectations, credit unions and financial services organizations should focus on creating digital experiences that mirror the warmth and personalization of in-person service. Key strategies include streamlined onboarding, ongoing feature discovery, personalized engagement, and human-like interactions. By adopting these practices,…

  • Metrics that matter when evaluating your digital banking platform

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    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…

  • What Is Personalized Banking and How Can It Improve Customer Satisfaction?

    Woman checking phone at coffee shop

    by Marty Aquino Personalized banking isn’t optional for financial institutions to survive in the digital age. With previously unknown startup fintech companies devouring once untouchable bank and credit union market share, it’s clear that end-users prefer more custom solutions. Accenture’s Banking Consumer Study, one of the largest of its kind, with 47,000 participants in 28…

  • The 7 Most In-Demand Mobile Banking Features to Consider for Your User Experience

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    With most major banks and credit unions now offering a mobile banking platform, end-users are already accustomed to digital banking from their smartphones. Leading the pack are the younger generations, with 88% of Gen Z and Millennials choosing to bank on mobile.  However, by no means does usage tail off among older bankers. In fact, some 40%…