Lumin Digital

Lumin Digital operates as a cloud-native digital banking platform, specifically catering to the needs of U.S. credit unions and financial institutions. The company was founded in 2016 by Jeff Chambers, who brought with him extensive experience from the financial technology sector, having previously founded and led another successful fintech company, CU Wallet. This background in serving credit unions appears to have directly shaped Lumin Digital's focus and product strategy.

The firm's core offering is a platform that enables financial institutions to provide their members with a seamless and integrated digital banking experience across various devices. Key features include personalized dashboards, financial management tools, security controls, and card management functionalities. The platform is designed to help credit unions compete with larger national banks and fintech challengers by delivering a sophisticated and user-friendly digital interface. Its architecture is cloud-based, which allows for scalability and quicker deployment of new features and updates for its clients.

Lumin Digital's business model is based on providing its digital banking solution as a service to credit unions. Revenue is generated through contracts with these financial institutions. The company has demonstrated significant market traction, securing partnerships with numerous credit unions across the United States. One notable milestone was its acquisition by Alkami Technology, a larger player in the digital banking solutions space, in 2018, which has likely provided additional resources and market access to accelerate its growth.

Keywords: digital banking, credit unions, financial technology, SaaS, cloud-native platform, member experience, online banking, mobile banking, fintech, B2B