Luma Financial Technologies Doubles Workforce at Ohio HQ

Company Name: Luma Financial Technologies
Location: Cincinnati
Industry Sector: Financial Services
Company Profile: Launched in 2011, Luma Financial Technologies is the creator of Luma, a fully customizable, independent, buy-side platform that helps financial advisors more efficiently learn, create, order and manage market-linked investments such as structured products, structured annuities and more. Luma is headquartered in Cincinnati with offices in New York City.
Company Website: lumafintech.com

Project Summary:

Type of Project: Expansion

Jobs:

• Jobs retained: 56
• Types of jobs: Technical and support staff such as development engineers, business analysts, and administrative positions.

Company Need:

Luma Financial Technologies, a fintech company with a presence in both Cincinnati and New York City, offers an award-winning digital platform that enables its customers, made up of banks, brokers, and financial advisors, to manage and sell structured financial products. The company has experienced substantial growth due to an increase in demand for its platform and needs more office space.

Testimonial:

“We’re honored to be a global technology leader that is based in Cincinnati. Our growth is a testament to our team’s persistent and effective efforts toward building an industry leading fintech platform. We’re continuing to hire more talent to our team in Cincinnati, which allows us to expand our capabilities, and therefore our platform’s capabilities, even further.”

- Tim Bonacci, president and CEO, Luma

Why Ohio?

After recognizing the need to add to the Luma team, the company saw Cincinnati as a perfect choice because of its rich talent base and low cost of doing business. Luma’s expansion will support the enhancement and diversification of its product line to include annuity insurance products, entering new markets outside the U.S., and adding the necessary tools to offer secondary market transactions.

Ohio’s ability to support fintech growth through technology and financial services assets is a major driver for the company’s decision. This includes the availability of qualified talent. An Ohio location also reduces capital spent as the cost of office space rent is ¼ less in Ohio than NYC.

Collaborators:

REDI Cincinnati, JobsOhio, the city of Cincinnati and the Ohio Development Services Agency