22 September 2017
Visit http://response.ncr.com

M-banking app start-up Malauzai raises $2.3 million capital

05 April 2012  |  3060 views  |  0 Source: Malauzai

Malauzai Software Inc., a leading provider of mobile banking applications for community financial institutions, announced it has completed a $2.3 million capital raise.

The company will use the funds to expand its footprint in mobile banking, pursue strategic partnerships and increase awareness of its proprietary SmartApp platform. Malauzai makes this announcement on the heels of forming distribution partnerships with Catalyst Corporate Credit Union and CFC Technology, accelerating access to next-generation mobile banking apps for community financial institutions.

"This investment validates our initial successes and speaks to the demand for more robust mobile banking applications from community financial institutions," said Robb Gaynor co-founder and chief product officer at Malauzai. "Currently, we have 15 institutions live and 49 signed. With the proliferation of smart devices and increasing consumer demand for features like mobile deposit capture, rewards and debit on/off; we anticipate rapid growth in 2012 and beyond."

"Malauzai is not trying to be all things to all people," said Chip Mahan, CEO at Live Oak Banking Company, a Malauzai investor. "Specializing in mobile banking applications strategically positions the company to satisfy the growing demand from consumers for more dynamic and engaging mobile banking apps. Malauzai's visionary leadership combined with an innovative approach to mobile banking will continue to make them successful in the financial services industry."

"Mobile banking is no longer a competitive advantage. It's becoming a competitive imperative," said Gaynor. "As financial institutions face-off within the mobile channel, they will start looking for ways to differentiate mobile offerings and increase consumer adoption. To get consumers to adopt mobile banking, financial institutions will need to give consumers a better mobile experience and offer features that either save time or solve problems."

Malauzai's SmartApps are available for smartphones and tablets (iPad/Android). The company defines a SmartApp as a mobile app that delivers superior customer experience. The term "smart" is used because the app can be updated in real-time from a centralized location. SmartApps can also be tailored for separate customer segments. The company created SmartApps in response to the demand for a dynamic, customer-focused smartphone application. Malauzai's platform is based on three tenets designed to enhance the customer experience, while driving profitability within the mobile channel. The components are Cool Social Banking SmartApps, an Application Management System to manage SmartApp growth across platforms, and Mobile Marketing to drive bank revenue.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.sibos.comvisit www.temenos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12795 views comments | 27 tweets | 42 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9591 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8309 views comments | 19 tweets | 27 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8263 views comments | 13 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
7709 views comments | 16 tweets | 1 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job