Lumio discussion and feedback

Thanks Anzo - I’ll give it a try

I haven’t heard of Lumio before and can’t see a thread for it, how would you rate it in comparison to Yolt & Emma? Also, how trustworthy/secure do you think it is?

hi everyone!

a couple of people told me Lumio was mentioned in a few threads here! I am actually one of the founders of Lumio!

I dont want to spam your thread by answering every thing, so let me know if you have any questions, comments or feedback!

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hi @o99 ! I am actually one of the founders of Lumio. you are 100% right, we using screen scrapping in certain situations for non-payment accounts!

we are working with providers to switch over to APIs, some will be quicker than others.

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Thanks for joining in.

Is it your understanding that for non-payment accounts there is no regulation against using screen-scraping?

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yeah, that is the current state of play. however, we are seeing momentum behind Open Finance, that could/would bring it into scope.

which would be amazing!

we are always API first, however, our vision is for the full holisitc picture! Sadly that means we have to use SS in some areas

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Hi @tomr1! Commenter above said you had student finance but I can’t find them, am I missing something or are they not supported?

Unfortunately i wont download it because i dont want another app that can only show me 60% of all my finances.

Danske bank, student finance, moneybox lisa are the biggies youd need to onboard before id personally think about using it

Hi @nathanthomson8 - Charlie here, co-founder of Lumio

Totally understand and what you are looking for is our focus. Your full financial life, in one place. Quick update for you:

  • Danske bank is a live API.
  • Student finance connection is on our roadmap
  • Moneybox not far away either.

Would love to hear about any other products or services you would love to see available.
I’ll make a note to pop you an update when they come live!

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Do you offer integration with Trading 212 or Freetrade?

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Has only let me add 3 banks. And hitting the “overview” key crashes the app, and yes, I have uninstalled and reinstalled.

One for the recycling bin, methinks

Hi @welshguy99. Not right now but we are tracking all requests - I will add both to our priority roadmap and be in touch when they are live. Would love to have you test the connections.

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Hi @riceuten - frustrating to hear and sorry about your experience. A long way from what we are looking to deliver. We’re continually reviewing any crashes across the app.

Thanks for highlighting the crash in ‘Overview’. We have just pushed a new version with improved speed and performance. Should solve this problem.

Looks like Lumio is crowdfunding - and they already seem to be overfunding! :tada:

I really like the look, but still no Android? What gives @CR_Lumio?!
Also, no connection with mortgage providers?

(This might also be of interest)

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Hey @Peter_G

Thanks for the questions and the link.

Our Android app is being slowly released to more and more users via our beta rollout. If you email me at charlie@lumio-app.com and I’ll do my best to provide you with early access.

Regarding Mortgages, we are releasing this as well but will be at least 4 weeks away.

Thanks again for the note and look forward to hearing what you think of Lumio!

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@cr_lumio investment platforms have started to use 2-factor authentication. For example with Hargreaves Lansdown you need to enter SMS code upon every login.

I see Lumio supports HL and other investment platforms. How exactly is this supported in your app? Would we need to enter 2-factor authentication codes every time you do a sync?

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Hey @o99

This will vary from provider to provider, and currently, HL is requesting it.

This does have benefits in form of greater security but it does come at the cost of friction for the users.

We are working with all providers to move them across to stronger and more stable API-based connections. Wherever possible, Lumio will be API first.

Hope this helps.

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Thanks. How does it affect day-to-day user experience? For example, do you run a background sync/refresh every day and every day we get a pop-up from Lumio app asking for a 2FA code? Or do you disable background sync for such accounts and require user initiation?

For platforms where it is possible to “trust the browser” is it different (e.g., Interactive Investor)? In these cases can 2FA be done once in the Lumio app and then from then on can the sync happen in the background without user interaction?

Lots of interesting stuff in the pipeline for Lumio. From a recent email, here’s what’s in the pipeline:

Here’s what to expect in the near future:

:one: Standing Orders & Beneficiaries
:two: Offline Accounts
:three: Crypto Connections

The most exciting update - for now, we’re going to call it Lumio 2.0 :shushing_face: - will take your finance game to the next level. We’re going to give you a sneak peek, but more details will follow in the months ahead and with the big reveal.

:one: The Lumio Monthly Manager (we’re really excited about this one - stay tuned :bulb:)
:two: Home layout makeover
:three: UI improvements across both iOS and Android

Here are some other fresh, new features and improvements to look out for this year:

:one: Loans & Mortgage Connections
:two: Custom Categories
:three: Zoopla Integration
:four: Intelligent Budgeting

I’m particularly keen on the last bit. Mortgages and Zoopla (house prices) are excellent and a bit of a game changer / differentiator.

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I am curious about Lumio but I just want to get an overview of how it’s going to be funded and what happens with our data?
Is aggregated data sold etc?
I am just naturally wary of free things and check first.