Malauzi bags contract with Somerset Trust Company

Source: Malauzi

Malauzai Software, a provider of digital banking for community financial institutions, today announced Somerset Trust Company is extending its digital banking service to business users.

Leveraging MalauzaiOne, a single platform for digital banking, the bank initially launched its award-winning digital banking services to its retail customers. This latest roll-out provides customers access to multiple accounts using a single sign-on (including both business and retail accounts), powerful financial management tools and new receivables functions designed to help businesses get paid faster.

“The response to our digital banking offerings from our retail customers has been tremendous,” said John Gill, COO of Somerset Bank. “Now it’s time to extend this capability to our business customers. We credit much of this initial success to our long-term partnership with Malauzai; we consider them an extension of our team. By aligning with Malauzai, we were able to expand the innovative solutions we already provide and design a cutting edge digital banking solution that both our retail and business customers can use interchangeably and seamlessly.”

Based in Somerset, Penn., a growing majority of the bank’s customers are small business owners, a market segment that according to the bank has traditionally been underserved by digital banking solutions. The bank can now provide business owners consolidated access to digitally view and manage all accounts including personal/retail accounts, a simple workflow to better manage payments and control costs, as well as new receivable features designed to help business get paid faster.

“We are proud to partner with forward-thinking institutions like Somerset,” said Robb Gaynor, chief product officer, Malauzai. “Up until now, business digital banking and consumer digital banking were delivered on separate platforms. Now they are on a single platform, and it is great to see Banks like Somerset benefit from what Malauzai’s single platform delivers; better engagement with customers, less complexity in their back-office and ultimately much lower costs to support the digital channels.”
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