Lumin Signal Lumin Digital has introduced a new capability that will provide banks and credit unions with increased insight into how retail and business users interact with digital banking experiences and also include the ability for them to act on that insight right within the Lumin platform.
That capability is then combined with in-app features, giving financial institutions insight into the user’s journey, including each step they take in the digital experience, the features they use or abandon, and, which features are undiscovered. Financial institutions can then act in the moment, within the digital experience, and measure the effectiveness of those actions.
Turning Digital Banking Behavior Into Actionable Insights
Traditionally, banks, and credit unions have had access to data on what their users are doing in digital banking, like logging in, paying bills, transferring funds and depositing checks. With Lumin Signal banks and credit unions can now also see how those things feel to users with their technology platform.
This capability is intended to help financial institutions pinpoint areas of friction, determine feature usage, and establish a feedback loop from end-user behavior to enhancements of the digital banking experience.
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“As digital banking plays a bigger role in the relationship between financial institutions and their users, understanding how users engage with that experience becomes increasingly important,” said Sean Weadock, Chief Product and Technology Officer at Lumin Digital. “Lumin Signal gives our clients a deeper understanding of how people are using digital banking, helping them identify opportunities to increase adoption, improve the experience, and generate more value for the capabilities they already have.”
Preconfigured Behavioral Analytics for Banking
Unlike standalone behavioral analytics platforms that require extensive setup, Lumin Signal is purpose-built for the Lumin platform and comes preconfigured across more than 100 pages and 700 features.
Banking-specific terminology is already embedded across the experience, including features such as Stop Payment, Skip-A-Pay, Remote Deposit Capture, and Positive Pay. This enables institutions to begin analyzing user behavior without extensive data preparation or custom reporting.
Key capabilities include:
Behavioral Analytics: Tracks feature adoption, session paths, funnel drop-off, and retention through pre-built dashboards and eight ready-to-use audience segments.
Guides: Enables administrators to create and publish in-app walkthroughs, tooltips, announcements, and onboarding flows without engineering work or a separate integration project.
Surveys: Captures user feedback directly within the digital banking experience at relevant moments without requiring a separate research initiative.
Connecting Insights With Digital Banking Action
Lumin Signal helps banks and credit unions take action against digital banking friction, not just identify it. Since this feature runs natively on the Lumin platform, institutions don’t need to deploy or manage an additional third-party analytics platform or vendor relationship.
Lumin Signal is one piece of the puzzle in the Lumin platform Lumin Signal is one part of the Lumin platform. Lumin Analytics offers insights at the level of an individual or transaction. Lumin Analytics tells institutions what their particular user did; Lumin Signal reveals how the entire user base engaged with their digital journey and equips the institution to act.
These capabilities can be acquired separately, providing financial institutions with greater options about implementation of these behavioral and transaction-level capabilities.
Improving Digital Banking ROI Visibility
Lumin Signal offers a solution for financial institutions to tackle a longstanding measurement challenge faced by digital banking by linking user experience data with actional insights.
Connect behaviors to behaviors actions. When carefully connected to specific behaviors, banks, and credit unions gain a tool for quantifying digital adoption, showcasing metrics and articulating the impact of digital banking investments to executives and boards of directors.
