News – Lumio Insight

Lumio Insight and Plansmith Partner to Revolutionize Financial Planning

November 14, 2024/in News/by Lumio

ARLINGTON, VA November 14, 2024 –Plansmith Corporation, a long-time leading provider of financial institution planning software, announced a strategic partnership with Lumio Insight, a data analytics, dashboarding, and reporting solution for financial institutions. This collaboration will integrate Lumio Insight’s Banking Insight platform into Plansmith’s upcoming Generation 5 solution, delivering unparalleled value to financial institutions.

“We are thrilled to partner with Lumio Insight to bring advanced data analytics and insights to our clients,” said Craig Hartman, Chairman and CEO of Plansmith. “By combining Lumio Insight’s data-driven technology with Plansmith’s industry-leading financial planning software, we will empower our clients to make more informed decisions, drive sustainable growth, and satisfy regulators.”

Lumio Insight’s Banking Insight platform will provide Plansmith Gen 5 users with daily data feeds and actionable insights via dashboards and dynamic reporting tools. This integration will enable financial institutions to:

Enhance decision-making: Access critical data and analytics to inform strategic planning.
Improve operational efficiency: Streamline workflows and automate tasks.
Mitigate risk: Identify and address potential risks proactively.
Enhance regulatory compliance: Ensure adherence to evolving regulatory requirements.

“Partnering with Plansmith is a wonderful opportunity to bring the power of our Banking Insight platform to a wider audience,” said Jeff Fink, Co-Founder and CEO of Lumio Insight. “This integration will provide financial institutions with a comprehensive solution to meet their evolving business and compliance needs.”

Plansmith Generation 5, scheduled for release in stages throughout 2025, will revolutionize the way financial institutions approach financial planning. Key features of Gen 5 with Lumio Insight include:

Single Sign-On Integration: Enhanced security and user experience with customizable access for multi-user environments.
Executive Dashboard: A consolidated view of key metrics for strategic decision-making, accessible by board members and other key stakeholders.
Daily Reporting Dashboard: Timely data access through daily updates and API integration, offering flexible report generation.
Branch/Departmental Budgeting: Comprehensive tools for managing financial performance across branches, incorporating historical data and note-logging.
Interest Rate Risk Functionality: Integrated tools for comprehensive interest rate risk assessment and asset liability management.

To learn more about Plansmith Generation 5 and how it can benefit your financial institution, please contact Mike Bilyeu, EVP – Business Development.

About Plansmith

With over 50 years of budgeting and interest rate risk management experience, Plansmith has helped coach and cultivate thousands of powerful bank and credit union clients. Their goal is to demystify planning and ALM so all users can benefit from the ability to make better informed business decisions with sophisticated yet easy-to-use software. While other vendors assign support tickets, Plansmith’s acclaimed customer service team is available via phone or email to assist in your success when you need us.

About Lumio Insight

Lumio Insight is a data-driven solutions provider dedicated to empowering progressive financial institutions. By offering simple, powerful, and scalable analytics and automation tools, Lumio Insight helps banks and credit unions navigate the complexities of the modern financial landscape. Complete with on-call support and expert guidance, clients are empowered to maximize the value of their data. Through innovation and integrity, Lumio Insight is dedicated to helping organizations thrive in any economic environment. For more information, visit lumioinsight.com.

Lumio Insight Announces Strategic Partnership with Smith Consulting Group

September 17, 2024/in News/by Lumio

ARLINGTON, VA September 17, 2024 — Lumio Insight, a data analytics, dashboarding, and reporting solution for financial institutions, announces a strategic partnership with Smith Consulting Group, an industry leader in all aspects of bank and credit union operations including conversions, data strategy, and project management. This partnership combines our shared expertise in data technology architecture, analytics, reporting, and management consulting to drive a successful data strategy for Smith Consulting Group’s clients.

“Partnering with Smith Consulting Group allows us to bring our expertise and comprehensive data solutions to their clients and help unlock the full potential of their data. Our approach is flexible and adaptive, ensuring that we can meet the specific requirements of each bank. We believe in mapping all data, going beyond just core system data, to provide a comprehensive view that drives actionable insights.” said Jeff Fink, CEO of Lumio Insight.

The Lumio Insight platform is designed to empower financial institutions to leverage data as a strategic asset, consolidating it into a single source of truth. From insights to actionable strategies, Lumio accelerates the decision-making process and drives more value from data assets. The partnership with Smith Consulting Group enhances their capabilities and introduces a comprehensive suite of services, including:

• Data Strategy and Governance Best Practices
• Data Architecture for a Modern Data Platform
• Business Intelligence and Visualization
• Data Analytics and AI Capabilities

“We are excited to add the Lumio Insight platform to our data analytics and migration service offerings. As the technological expectations of banks, credit unions and their customers continue to increase, Smith Consulting Group has placed significant effort into making sure we have the internal teams and partners to meet these demands. Banks and credit unions are using their data for customer acquisition and retention, compliance, marketing and more, and we can help them get the most out of these efforts.” explains Darren Smith, CEO of Smith Consulting Group.

About Lumio:
Lumio Insight is a cloud-based data management, reporting, and analytics platform for financial institutions. Lumio provides strategic applications that help institutions make more informative business decisions and gain a competitive edge. Our suite of applications contains data analytics, dashboarding, and reporting capabilities that help uncover valuable insight with simple, powerful, and intuitive tools. We are more than a technology provider – we are your partner in uncovering the hidden value within your data. For more information, visit lumioinsight.com.

About Smith Consulting Group:
The team of banking and credit union professionals at Smith Consulting Group have decades of experience dealing with all aspects of bank and credit union operations; including, banking software system conversions and implementations, Data Warehousing and Reporting, Core, Teller, Customer Service and Call Center Platforms, ECM Systems, Document Development and Delivery Systems, Online and Mobile Banking, and various other interfaces. Whatever challenges you are facing, SCG can help you overcome them on time and within budget. For more information visit smithconsultinggrp.com.

Lumio Insight Secures Investment from JAM FINTOP

February 28, 2024/in News/by Lumio

ARLINGTON, VIRGINIA, UNITED STATES, February 27, 2024 — Lumio Insight, a data analytics, dashboarding, and reporting solution for financial institutions, announces an investment from JAM FINTOP (1), a venture capital firm advancing the mission of community banking through technology investments. This new capital is poised to fuel Lumio’s growth and further solidify its position as a key player in the banking data analytics space.

“Lumio is dedicated to empowering financial institutions to maximize their return on their most strategic asset—data. Our partnership with JAM FINTOP stands as a testament to our commitment to accelerating our growth and providing invaluable support to community banks,” said Jeff Fink, Co-Founder and CEO of Lumio Insight.

Lumio Insight addresses common data challenges faced by financial institutions. Many financial institutions grapple with disconnected systems, lack of internal resources to build complex data platforms, and an inability to leverage their strategic data assets effectively. Lumio’s data analytics, dashboarding, and reporting cloud service transforms financial institution data into actionable insight while also automating the manual processes most institutions struggle with when aggregating data from across their internal systems.

Fink added, “Lumio Insight is the single source of truth that provides timely, validated information and insight to users across the bank, allowing them to make more informed decisions. Our modular approach, featuring applications like Deposit Insight, Loan Insight, Customer Insight, and Financial Insight, empowers banks with enhanced reporting and data analytics capabilities for an affordable monthly subscription fee.”

“Our relationship with Lumio began through Project Fintech, a Nashville-based accelerator program that JAM FINTOP co-founded with First Horizon Bank and the American Bankers Association. Lumio’s commitment to transforming data into actionable insight aligns with our vision for what regional and community banks need. JAM FINTOP is excited to partner with Lumio Insight and contribute to their growth journey,” said Joe Maxwell, Managing Partner of FINTOP Capital.

The partnership underscores Lumio’s commitment to helping community banks overcome data challenges and better serve their customers by leveraging data analytics. Lumio Insight is poised for accelerated growth with the support of JAM FINTOP.

About Lumio

Lumio Insight is a cloud-based data management, reporting, and analytics platform for financial institutions. Lumio provides strategic applications that help institutions make more informative business decisions and gain a competitive edge. Our suite of applications contains data analytics, dashboarding, and reporting capabilities that help uncover valuable insight with simple, powerful, and intuitive tools. We are more than a technology provider – we are your partner in uncovering the hidden value within your data. For more information, visit lumioinsight.com.

About JAM FINTOP

JAM FINTOP is a joint venture between JAM Special Opportunity Ventures and FINTOP Capital. The partnership brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. For more information, visit jamfintop.com.

(1) JAM FINTOP is a brand name. When referring to investment funds JAM FINTOP refers to the joint venture between JAM Special Opportunity Ventures – Management (JSOV-M) and Nested Rails (d/b/a FINTOP Capital) as co-investment managers of those investment funds. JAM Special Opportunity Ventures (JSOV), an affiliate of JSOV-M, is a member of the general partnerships of JAM FINTOP investment funds.

Lumio Insight and Plansmith Partner to Revolutionize Financial Planning

Lumio Insight Announces Strategic Partnership with Smith Consulting Group

Lumio Insight Secures Investment from JAM FINTOP

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