Starting September 30, 2024, companies will no longer be able to directly integrate their bank accounts.
Why We Made the Change
While we offer the widest range of bank support with the highest probability of connection, only 35% of connections were successful. Many banks restrict connection durations and require frequent manual reconnections, making the process cumbersome. Our goal is to streamline the reporting process for you. Here's what's changed:
No impact on existing accounts: Your existing connected accounts won't be affected.
Reconnection limitations: Once an existing connection disconnects, you won't be able to reconnect it yourself. If your lender has authorized access to your banking credentials, they may be able to reconnect it on your behalf.
Simplified balance reporting: We've made it easy to report balances by automatically match the uploaded statements to your bank accounts and extract the bank balances where applicable. Learn more
Any Questions?
Please reach out to us at support@lumonic.com or via the "chat with us" button in app.