31 October 2014

Malauzai develops business mobile banking app

27 February 2014  |  964 views  |  0 Source: Malauzai

Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, has developed a mobile banking app for banks' commercial account holders.

The Business Mobile SmartApp has been implemented by New Castle, Ind.-based Ameriana Bank.

With Business Mobile, commercial account holders have access to features created specifically for business users, including a full integration with the commercial banking platform, the ability to manage accounts across multiple entities and the capability to view multiple account balances. The SmartApp employs the high security standards and controls required in a mobile business environment and users are able to customize the parameters of the app through their financial institution, including entitlements and functionalities available to individual employees.

"Malauzai developed our personal banking SmartApp in 2011 and has been our mobile banking provider since," said Deborah A. Bell, SVP and Chief Information Officer of Ameriana Bank. "When we were presented the opportunity to launch the Ameriana Biz app through Malauzai, we jumped at the chance. Few people are without a smartphone, and we want our customers, both personal and commercial, to be able to conduct banking in the palm of their hand."

During a survey conducted by Capital One at the Association for Financial Professionals Annual Conference, 48 percent of the participating finance professionals said their companies have plans to implement new treasury management tools and/or services this year. In addition, 66 percent of small business owners surveyed for an annual survey conducted by consulting firm ath Power said they would switch banks for better mobile services.

"It's no secret that commercial accounts drive revenue for banks. Until now, the approach to mobile banking for business has been to make small changes to the existing retail app," said Robb Gaynor, chief product officer at Malauzai. "Business Mobile moves beyond this level to ensure that commercial customers have a unique and truly useful mobile experience that increases loyalty."

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