Category: Growth & Productivity

  • Lumin Analytics

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    Lumin Analytics enhances data analysis with real-time streaming and machine learning integrated into a cloud-native banking platform. This optional digital platform enables financial institutions to make data-driven decisions, reduce costs, and foster growth. Key features include real-time data streaming, continuously updated pre-built dashboards, customizable reporting, advanced forecasting, automated actionable insights, extensive user training, and more.

  • 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…

  • Mastering the Game: Leveraging Analytics in Banking for Competitive Edge

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    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

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    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.…

  • Power Your FIs Success with Predictive Analytics

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    Discover how banks and credit unions are harnessing the power of predictive analytics to transform their data deluge into information gold. In the age of big data, financial institutions are flooded with vast amounts of information daily. From customers to businesses, data is pumping into banks and credit unions like a firehouse of information that…

  • In Times of Uncertainty, Should You Stay Afloat or Invest in the Future?

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    With the possibility of a recession looming, now is not the time for banks and credit unions to be timid. It’s no secret—the current economic environment is unpredictable, at best, or in a recession, at worst. The meteoric rise in inflation is driving prices to their highest levels in decades, while a reliance upon unsecured…

  • Beyond Growth for Banks and Credit Unions: 5 Tips to Scale Your Operations

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    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 banks and credit unions are looking to grow their business, they actually need to scale…

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

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    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…

  • The Top Reasons for Avoiding Digital Transformation and Why Credit Unions Should Do It Anyway

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    Digital transformation in banking is a top goal, but obstacles limit adoption rates. Transformation roadblocks include legacy systems and implementation costs. Likewise, leadership may question the timing of digital initiatives. While these concerns are valid, forgoing digital expansion may pose a greater threat. Learn about the challenges banks and credit unions face, then discover how…

  • Remaining Agile and Innovative During Slow-Growth Periods

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    Even the best-run institutions seldom enjoy an indefinite run of steady, gratifying growth. Banking trends run in cycles and slowdowns and reversals will happen, sometimes with little warning. Some institutions will hunker down defensively, conserve their resources, and wait for the situation to improve. Others will leap to the opposite extreme, reacting with alarm and…