Company: Lumin Digital, San Ramon, CA
Company Description: Lumin Digital is a fintech company specializing in digital banking solutions. Through a fundamentally different approach to technology, service, and people, we’re creating the next generation of financial solutions each and every day. Lumin helps financial institutions build and deploy next-gen digital experiences that help to continually serve, engage, and grow their user base.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Tech Company of the Year - Up to 2,500 Employees
 Nomination Title: Lumin Digital
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2021, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 174 words used.
Lumin Digital is a fintech company specializing in digital banking solutions. Founded in 2016, Lumin Digital empowers today’s financial institutions to build and deploy next-gen digital banking experiences that continually serve, engage, and grow their user bases well into the future. We serve many of the nation’s most innovative banks and credit unions, both large and small, and support users across all 50 states and Puerto Rico. With more than 160 employees across 36 states, our dedicated leaders, service professionals, designers, and developers bring their A-game in service of our clients’ staff and users each and every day.
This year, Lumin also achieved the following growth milestones:
-
Increased revenue by 127% YOY
-
3 million users under contract; a 59% increase YOY
-
15% annual user organic growth rate
-
50 signed clients; a 45% increase YOY
-
167 total employees; a 26% increase YOY
-
Employee retention rate exceeded 98%, turnover at competition is 280% to 430% higher
-
100% platform uptime
- Client Net Promoter Score (NPS) of 84 (for the SaaS category, the 2022 average NPS is 41)
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
Since 2021, Lumin Digital has launched its technology in 13 new banks and credit unions and helped provide more than 1.3 million additional users with enhanced digital banking and security. Our customers benefited from 100% uptime in 2022 and weekly platform upgrades that included 196 new features, like expanded card controls for debit cards, new integrations like Glia's video chat, and extensive support for domestic and international wires for retail and business users.
Lumin's cloud-native digital banking platform empowered institutions to dramatically improve their digital experience in 2021 and 2022. For example, one of Lumin's credit union clients saw a 243% increase in their iOS app score just four weeks after launching its new mobile banking app. Collectively, 70.6% of Lumin users are actively logging in and making decisions to improve their financial lives — culminating in 1.8 million hours each month in our cloud-native platform.
As far as new products go, we also introduced Lumin Analytics, an optional streaming data and analysis platform that allows our clients to get even more value from our core digital banking solution and turn their data into impact.
"The market for consumer financial services is hyper-competitive and constantly evolving. When financial institutions partner with us, they're looking for an advocate that's committed to helping them thrive," said Jeff Chambers, founder, and CEO of Lumin Digital. "Our partners' growth continues to lead to our success."
Further details about Lumin Digital's 2022 performance can be found in its annual recap.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 178 words used.
To us, innovation is not just about creating cutting-edge products and services, but also about making a positive impact on the lives of our customers, employees, and the community. For our employees, we do this by creating a work environment that is challenging and rewarding. We believe that employees perform at their best when they are given the opportunity to stretch their abilities and take on new challenges.
Our culture focuses on transparency, inclusivity, and collaborative decision-making, all of which earned the company an impressive employee Net Promoter Score (NPS) of 94.4. (A score above 40 is excellent.) It also earned Lumin a spot on Inc. Magazine's 2022 Best Workplaces list.
Lumin Digital was named a silver winner in the Company of the Year – Business to Business category in this year’s Best in Biz Awards, the only independent business awards program judged by editors and reporters from top-tier business publications in North America. This year’s judges highlighted our company’s visionary leadership, our embrace of new technologies, our employee diversity and inclusion programs and workplace best practices.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 76 words used.
- [REDACTED FOR PUBLICATION]
| Attachments/Videos/Links: |
|---|
| [REDACTED FOR PUBLICATION] |
|---|
|
