Content Type: Whitepaper
Stay relevant: 5 ways weekly digital banking updates will transform your financial institution
In a recent KPMG survey, most financial industry executives cited “winning new business through digital transformation” as a significant factor in their earnings forecast. Robert Ruark, KPMG’s Banking & Fintech Strategy Leader, says that “…[E]fficiency enhancements through digitization and automation will go hand-in-hand with cost-cutting measures.” Is your organization benefiting from digital transformation, or are you lagging?…
How the right digital solution can support roles in a bank or credit union
The future of digital banking combines convenience, personalization, and innovation to transform customer experiences. Financial institutions are leveraging new technologies to create tailored solutions, such as gamification, augmented reality (AR), better integrating social media, lifestyle-based planning, advanced biometric technology, and an API-driven ecosystem. Embracing these strategies helps banks and credit unions stay competitive and deliver…
Banking on innovation: The digital solutions shaping customer experience
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…
Five key digital banking challenges
With digital banking now expected to be used by more than half the global population by 2026, credit unions and financial institutions must address these five crucial challenges. Confronting these challenges is crucial for staying competitive and meeting the demands of the digital banking era. How is your organization facing these hurdles?
Bringing human interactions to digital banking
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
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
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…
Lumin Analytics
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.
Go Beyond: The Power of Data + Analytics for Banks and Credit Unions
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…