Content Type: Article/Blog

  • 6 Signs Your Banking App Is Stuck In the Past

    Piggy bank

    There’s an undeniable satisfaction while standing at the doors of your institution in the morning and enjoying the sight of all those immaculately clean, gleaming surfaces. Yet, an increasing number of your customers don’t see those surfaces — for them, the “front door” of your institution is its banking software.  Evaluating your banking app’s readiness…

  • 4 Questions Financial Institutions Should Ask When Shifting To a Digital-First Approach

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    The availability of digital and mobile experiences in financial services is nothing new, as the use of a smartphone for mobile banking continues to rise. According to Statista, there are 57 million mobile banking users in the US, representing just over 20% of all smartphone users in the US. While banks have already been shifting away from providing services…

  • Why Data Is Your Best Asset When It Comes To Smart Digital Banking Solutions

    Team discussing work together

    Your financial institution’s plans, and your ability to deliver on them, are only as good as the data you’re using to make decisions. Banks and credit unions are no strangers to using “big data” to forecast revenues and operational needs. However, many are missing out on one of the most valuable uses for the millions…

  • 5 Top Features Mobile Banking Apps Should Offer

    Hands holding a phone

    By 2021, roughly 7 billion people will be mobile users worldwide. To reach them, financial institutions must be willing for their mobile banking apps to exceed consumer expectations. There already are 57 million mobile banking users in the U.S., and their desire for self-service and personalization is rapidly changing the digital landscape of banking. With the mobile app market…

  • What Are Zero-Downtime Upgrades, and Why Do They Matter for Your Financial Institution?

    Laptop with clock

    As a financial institution, your customers fully expect their online banking experience — whether via a Web browser or the mobile app — to be available and functioning every time they access it. They expect to be able to view their accounts, make a transfer, pay bills, even take a photo of a check for deposit. In…

  • Member-First: The Importance of the Customer Journey and Personalization

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    The “member experience” is central to credit unions, and in theory, it’s a key differentiator between CUs and their rivals: banks and (increasingly) digital-only fintech platforms. In practice, it’s ever-more-difficult to provide a genuinely superior experience for your members. Increasingly they’ll choose to bank digitally, so getting to know them face-to-face is not the option…

  • 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…

  • 5 Tried-and-True Banking Practices to Take Into the Digital Age

    Two women working together

    While the white marble pillars of traditional financial organizations may have come down long ago, a number of banking practices and principles still shouldn’t get left behind. With digital innovations making banking continually more convenient on any mobile device or computer, even digital financial institutions would be wise to keep some of these evergreen practices…

  • Fighting Fraudsters with Better Authentication

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    Last month at Lumin Digital, we rolled out Google Authenticator support to all our client financial institutions, for no additional charge. This feature, which allows users to scan a barcode with their mobile phone and use a rotating, time-based one-time passcode (TOTP) as a replacement for an email or SMS message, helps protect users of…

  • How to Build Transparency With Digital Banking Technology

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    A fundamental difference between a credit union and its competitors — conventional banks and faceless fintech startups — is that a credit union is community-based. This is true not just in the sense that a CU serves a specific community, but also in the sense that a CU is — or can be — a…