News Column

Malauzai Software Reports Major Growth in 2013

February 6, 2014



By a News Reporter-Staff News Editor at Computer Weekly News -- Malauzai Software Inc., a leading provider of mobile banking SmartApps for community financial institutions, continued its rapid growth in 2013, announcing more than 205 percent revenue growth during the year and a more than 90 percent increase in bank and credit union customers.

Malauzai's customer base expanded from 106 at the end of 2012 to 200 financial institution partners that have improved their mobile banking experience by partnering with Malauzai. The company's Picture Pay mobile photo bill pay solution, built in conjunction with Allied Payment Network and Mitek, also saw a 17 percent month over month increase in active end-users and 13 percent monthly growth in the number of items processed since its launch in January 2013. In addition, Malauzai responded to the skyrocketing popularity of tablet devices by introducing a mobile banking app for iPads, showing the company's devotion to providing a better mobile banking experience on all devices. Usage of the iPad is as high as 15 percent of the active end-users at several banks and credit unions.

"The growth of our customer base is a testament to the advanced products we developed in 2013," said Robb Gaynor, chief product officer of Malauzai. "Of the 200 total signed Malauzai customers, roughly 70 percent have gone live with our products. This is the number we are most proud of because it means our innovations are more than just a nice idea in the works, but are actually being used to improve the banking experience of thousands of people across the country. We've also seen evidence that the conversion away from first generation mobile products is occurring as 35 percent of our new customers were replacing their existing apps."

By the end of 2013, Malauzai had achieved 305,000 total downloads of its SmartApps with more than 207,000 registered users.

"We expect more of the same in 2014 as we continue to improve the mobile banking experience for our clients, their employees and the corporate and consumer account holders they serve," continued Gaynor. 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.

Keywords for this news article include: Malauzai Software, Investment and Finance.

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Source: Computer Weekly News


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