Lumin Digital launches behavioural intelligence tool

Lumin Digital has launched a new tool called Lumin Signal designed for banks and credit unions. While this is a backend technology update, it directly impacts how your financing partners interact with your customers. The tool uses behavioral intelligence to track how users navigate digital banking platforms in real-time. For a retailer, this means the lenders you work with can now see exactly where a customer gets stuck or drops off during a loan application or payment process. This technology allows financial institutions to identify friction points and deliver automated, personalized messages to help users complete their journey. If a customer is hesitant about signing a financing agreement, the system can trigger helpful prompts to guide them through. This should lead to higher completion rates for digital applications at the point of sale. It also helps lenders better understand which financing products are resonating with different demographics. Better data for the lender usually translates to more refined lending offers and a smoother checkout experience for your customers.

Source: Finextra — Lending

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