Luna Connect Disrupts Lending Industry Incumbents

Greg Serandos

Legacy systems hold back local financial institutions from digitising and stifle innovation with outdated technology. Luna Connect combats this by staying at the forefront of technological advancements and delivering a digital lending platform cost-effectively with no capital investment. 

Luna Connect goes beyond offering just another loan origination system (LOS). They leverage the cloud, AI, data analytics, automation, and other advanced technologies to disrupt the lending industry. Indeed, credit unions and community-based banks have something the big banks and startups may never have – close relationships with individuals, families, and communities. Now they have access to the technology that enables a superior digital customer experience as well.

Legacy systems rely on old, insecure software versions that make customer data difficult to access and vulnerable to cyber-attacks. Furthermore, legacy systems simply don’t have the infrastructure required for true high availability, scalability, and resilience.

Luna Connect utilises the Google Cloud Platform to ensure continuity and high availability by utilising multi-site replication and failover. Ensuring clients are always on the latest version avoids the security holes and other legacy system limitations. Cloud hosting and modern software development techniques such as agile, and DevOps utilisation enable rapid innovation and high-velocity delivery.

Furthermore, lenders have been accustomed to laying out large amounts of capital for technology, but it doesn’t have to be that way. Luna’s clients do not incur capital investment due to Luna’s Software as a Service (SaaS) model. This approach reduces the cost and risks of digitally transforming banks, credit unions, and other lending institutions.

About Luna Connect

Often local lending institutions want to be online but don’t know how to go about it. Luna Connect has taken conscious steps to empower lending institutions by assisting them in their digital transformation journey from start to finish. Through Luna Connect, local lending institutions such as credit unions, banks and asset finance firms can leverage AI-driven insights, automate repetitive tasks, and provide a personalised customer experience in just a few weeks. They automate key aspects of the lending journey using our digital platform and provide AI-driven analytics for better-informed decisions and dashboards for performance. In addition, with Luna’s professional services division, clients can get started with customer journey mapping and ensure success with project implementation advisory services. 

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Greg Serandos
CEO of Sausalito Digital Advisors. He advises FinTechs and financial institutions on strategy and marketing.