PENSACOLA, Fla. — Loyalty Credit Union has launched Lumi, its new virtual assistant that it said has been developed to be its “best, supportive finance friend, Lumi offers members instant, clear and genuinely supportive financial guidance, moving beyond traditional, abstract artificial intelligence to deliver human-centric digital service.”
According to the $295-million Loyalty CU, Lumi’s unique personality and supportive tone were specifically designed to demystify complex financial topics and make member interactions feel simple and encouraging.
Lumi is powered by Eltropy.
“We recognized that while members seek instant digital answers, they don’t want to chat with a cold, generic algorithm,” President and CEO Park Broome said in a statement. “Lumi is the result of blending advanced AI with our core people helping people mission. She is a knowledgeable, always-available friend who ensures that financial literacy feels straightforward and easy to understand.”
‘Extensive Capabilities’
According to Loyalty CU, Lumi is instantly accessible via its website and mobile app. When it comes to general information for all users, LCU said Lumi is an “instant knowledge hub” that can provide information and support on:
- Financial Coaching: Offering tangible, actionable advice on improving credit scores and preparing financially to borrow money.
- Product and Rate Inquiries: Delivering current savings and loan rates, terms, mortgage information and insurance details.
- Logistical Support: Providing the routing number, branch hours, shared branching information and step-by-step driving directions to any branch.
- Next Steps: Automatically providing text links for applications, forms and detailed information for every inquiry.
Personalized Account Services
Loyalty CU said that for personalized account services, upon secure member authentication, Lumi transforms into a personalized financial assistant, handling critical account-specific tasks instantly, including:
- Executing payments and transfers
- Retrieving account history and current balances
- Providing payoff amounts for existing loans
- Confirming specific dividend or interest rates on member products and CD maturity dates
- Locating direct deposit account information.
Freeing Up Staff
“Lumi’s ability to handle high-frequency, complex account tasks 24/7 means our branch staff and specialists are freed up to focus on higher-level financial conversations, such as complex loan counseling and long-term planning,” Broome said in a statement. “This elevates the experience for everyone.”
Loyalty CU has more than 19,000 members.
