Austin, Texas | April 16, 2015
Malauzai Software, a provider of mobile and Internet banking SmartApps for community financial institutions, announces that two credit unions are launching SmartwearApps for the Apple Watch. These early adopters include:
- Alabama Teachers Credit Union in Gadsden, Alabama
- Greater TEXAS Federal Credit Union (GTFCU) and its division Aggieland Credit Union in Austin, Texas
These credit unions will provide members who purchase an Apple Watch with easy access to their most relevant banking information, including balances, transaction history for all available accounts and a branch locator. The SmartwearApp is available in English and Spanish and provides credit unions with a screen for advertising and educational alerts.
Brandy Conway, Vice President of Marketing at GTFCU, said, “The Apple Watch app provides our credit union with an ideal opportunity to jump ahead of the rest of the market and offer our members the latest technology. With its similarity to our current mobile banking offering, the wearable app requires no new hardware or software and will provide an intuitive user experience for our members. Now members have another way to conduct banking at their convenience.”
Malauzai is currently working with eight community financial institutions that will have an Apple Watch app live on April 24 when the device is launched. Current Malauzai usage data indicates that 70 percent of active mobile banking users stay registered on a mobile device. The company believes the engagement level will be significantly higher for the watch in its initial phase. More about the Apple Watch development journey, including videos and images of the apps, can be found on the Malauzai website.
“We are confident that consumers who purchase an Apple Watch will use the mobile banking app for its easy, ‘at-a-glance’ features,” said Robb Gaynor, chief product officer of Malauzai. “These credit unions are taking advantage of a strong opportunity to lead the way in giving today’s mobilized consumers what they want from their financial institution; access to account information whenever and wherever.” Pre-orders for the Apple Watch began April 10. More than 1 million devices were ordered, leaving some models on back order until June. The official launch is set for April 24. The watch is available in various models, ranging in price from $349 for the entry level sport model, to $17,000 for the 18K gold edition.
About Malauzai Software
Malauzai was incorporated in 2009 in response to the growing demand for a technology company that could provide innovative mobile solutions for community financial organizations. As a cool company in a cool town with a focus primarily on community financial institutions, Malauzai looks to provide mobile and now Internet banking products that enhance the customer experience, ultimately resulting in increased value for financial institutions.