William Mills Agency
Malauzai Ends 2015 On Uptick, Surpasses One Million SmartApp Downloads
Growth credited to new and expanded clients relationships, stronger analysis of user behavior
AUSTIN, TX (Feb. 02, 2016) – Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, ended 2015 on a high note, clocking in a record number of financial institutions that now use its mobile banking solutions. As part of this positive trend, Malauzai’s bank and credit union customers also experienced strong growth, witnessing an average expansion of more than 30 percent in terms of active number of mobile bankers.
“It has been a banner year for digital banking overall,” said Tom Shen, CEO of Malauzai. “The company is in a strong position to leverage the huge opportunities that await us in the coming year. We believe that we have the right solution set and are excited and energized to see how far we can grow in 2016.”
Leading the way for key metrics, the total number of downloads for Malauzai’s mobile banking SmartApps in Google Play and the Apple App Store surpassed one million end-user downloads. At year end, more than 400 community financial institutions used the Malauzai solution across consumer, business and employee facing applications.
Malauzai continues to see an increasing number of banks and credit unions deploy more than one solution, many now leveraging its entire digital platform. The company attributes this to financial institutions’ growing desire to provide consumers and businesses the same mobile app and infrastructure, from mobile to Internet, which leads to cost savings for the institution and creates a consistent look for all users and across devices.
“The most exciting development in 2015 was cross-channel analysis,” says Robb Gaynor, chief product officer for Malauzai. “We are now able to study and compare consumer or businesses behavior on mobile and Internet. The insights we are gaining are huge and are helping to drive the direction of future roadmap plans”.
The company cites that desktop Internet banking has now been officially augmented and in some cases replaced by SmartwebApps™, advanced applications running in a browser. Some financial institutions have used it to extend their reach to mobile devices where they do not have a native app, like Windows Phones, and others have used it to supplement Internet banking with functionality never before seen in the desktop, like debit card management or remote check capture.
Employee growth was again strong in 2015, increasing by more than 65 percent. New talent has been added to fuel specialty knowledge such as business banking and advanced web technologies. To fund this growth, Malauzai completed an $11 million round of funding earlier in the year. The company expects high growth in 2016 as mobile banking continues to organically expand and new products such as SmartwebApps and business services scale to many additional banks and credit unions as the year progresses.
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 provides Consumer, Small Business, Employee SmartApps, SmartwebApps and SmartwearApps that enhance the customer experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions.