AUSTIN, Texas--(Malauzai Software Inc., a leading provider of mobile banking SmartApps for community financial institutions, announced that it saw significant growth across the company in 2012 due to continued consumer demand for a better mobile banking experience.)--
“Our growth in 2012 is evidence that banks and credit unions are coming to realize the benefits of a stand-alone mobile banking channel”
Malauzai saw 300 percent revenue growth in 2012. This growth can be attributed to an expanding customer base, with the customer count increasing from 30 at the end of 2011 to 106 in 2012. The number of banks and credit unions that have gone live with the company’s SmartApps has increased from 12 to 73. With 73 of its 106 clients live, Malauzai boasts a strong ratio of installed to signed customers, demonstrating that its short 60 to 90 day implementation phase helps financial institutions launch mobile products quickly.
“Some mobile banking providers have financial institutions waiting nine to 12 months from contract signing to go-live. That is unacceptable,” said Robb Gaynor, chief product officer of Malauzai. “Consumers won’t wait for mobile banking. They would rather switch to a competitor to get the service they want. We help our clients avoid that situation by providing an industry-leading launch time for full-service mobile banking apps.”
Due to its expansion of app functionalities, Malauzai saw 97,000 total downloads of its SmartApps by the end of 2012, as well as more than 70,000 registered users. The company launched several new functionalities in 2012, including Picture Pay, SmarText, multi-language and mobile remote deposit capture capability. Malauzai also signed two additional reseller agreements, bringing it to a total of five strong distribution partnerships.
“Our growth in 2012 is evidence that banks and credit unions are coming to realize the benefits of a stand-alone mobile banking channel,” said Gaynor. “Having mobile banking serve as an extension of your online channel no longer qualifies as a mobile offering, and our clients have seen tremendous success and customer feedback by adopting that philosophy. Only a stand-alone channel allows for fast innovation and flexibility within the mobile program, which is essential as new functionalities are being introduced on a nearly daily basis. We look forward to even more success in 2013 as we continue to make robust, competitive mobile platforms a near-term possibility for community banks and credit unions.”
About Malauzai Software
Malauzai was incorporated in 2009 in response to the growing demand in the mobile channel marketplace. As a leading-edge company in a cool town, with a focus primarily on community financial institutions, Malauzai looks to provide mobile solutions that will enhance the customer experience ultimately resulting in increased value.