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Based on the current growth in mobile banking active users, this new dynamic channel will surpass Internet banking in terms of usage by the summer of 2015.  Banks and credit unions with robust mobile apps are seeing between 4%-5% growth per month in their user base.  Already these financial institutions have about 15%-20% of their account holders or members using the mobile channel.  These numbers do not lie and the time of Internet banking being the second channel in terms of usage is coming, and coming quickly.


I am excited to launch ‘Monkey Chatter’, Malauzai’s mobile banking blog dedicated to all things related to the mobile banking channel.  It is here to help financial service exec’s make informed decisions related to the channel.  It is here to separate the myth of mobile banking from the reality.  It is here to inform.  It is here to express a viewpoint that may not always gel with the conventional thinking about the mobile channel.   But mostly, it is here for community financial institutions.

We at Malauzai feel strongly that community credit unions and banks are at a disadvantage.  They tend to be behind the money-center banks.  But with mobile, they can leap ahead.  With the right features and functions, they can do a better job servicing their members and customers.  They can win the mobile banking competition and provide to their end-users a superior experience via the mobile, leaving the big banks in their wake.  Mobile can extend the reach of community financial institutions and let them bring competition to the doorstep of the big banks, regardless of geography.  Big banks beware, the community banker and credit union exec is at your doorstep and they will win in this new egalitarian world of automated, self-service channels.  If I were a big bank exec (and I have been one in the past), I would be shaking in my fancy loafers, as the end of big banks dominating and innovating is coming to and end.  Hail the community financial executive.  Hail the members and customers who choose to bank with local organizations.  And hail my grandma, as she represents the new reality in mobile; that all end-users are equal and that members and customers of all ages are going to start demanding a dynamic approach to the mobile channel.  Stay tuned, as I hope this blog will help you make the most out of the mobile channel.

Robb Gaynor, Chief Product Officer Malauzai Software robb.gaynor@malauzai.com