Category: Tech & Innovation

  • Bringing human interactions to digital banking

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    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,…

  • Go beyond: The power of data & analytics

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    Data and analytics are crucial for banks and credit unions to remain competitive and drive growth in the digital age. Financial institutions face the challenge of effectively managing and utilizing the vast amounts of data they collect. While larger banks may have the resources to leverage advanced analytics, many smaller institutions struggle with data management…

  • Digital banking security

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    Lumin Digital prioritizes security and confidentiality through a dedicated Enterprise Risk Management department led by cybersecurity experts. This team designs and implements comprehensive security measures, reporting directly to the CEO and Board. Our security program includes rigorous governance, independent audits, and transparent policies available on our trust portal. We ensure workforce security through thorough background…

  • Decoding Deceit: How Behavioral Biometrics is Beating Fraud

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    With social engineering scams dominating fraud tactics today, forward-thinking banks and credit unions are turning to the science of behavioral biometrics to help their customers thwart even the most sordid criminals. In today’s digitally dominated world, cybercrime happens so frequently that experts believe there is a new victim every 22 seconds. And that ratio is…

  • How Biometric Authentication Secures the Future of Digital Banking 

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    Digital banking is on the rise. So too is digital fraud. Fortunately, today’s biometric authentication lets banks and credit unions know who’s on the other end of a remote transaction. That could be great protection for the nearly 215 million people whom experts predict will regularly bank online in the U.S. in 2022.   The financial…

  • 6 Different Types of Cryptocurrency: A Quick Guide for Banks and Credit Unions

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    by Fred Decker Throughout most of its history, the banking sector has been a bastion of stability and slow, conservative change. That’s no longer the case, as competition from aggressive fintechs and pressure from a generation of impatient, digital-native consumers have forced financial institutions into a cycle of rapid adaptation.  Some of these challenges, like…

  • What Are Chatbots and How Can They Be Used in Digital Banking?

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    by Pamela Michaels Fay It’s likely that you’ve used a chatbot, whether you realized it or not. They’re pretty good at what they do. But what is that exactly? They deal with a wide range of user issues, and oftentimes the user inquiry is answered in real-time with no hassle. Say your user wants to…

  • 3 Common Misconceptions About Cloud Technology Solutions

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    Cloud technology is an already trending business initiative now exacerbated by the global pandemic. According to a report by Gartner, the cloud technology solutions market is forecasted to reach $364 Billion in 2022, up from $242.6 Billion in 2019. Ninety percent of enterprises expect cloud usage to exceed prior plans due to COVID-19. Further, 61% of organizations plan…