Both financial institutions utilize the MalauzaiOne ™ virtual banking solution from Malauzai Software, a provider of Mobile and Internet solutions for community financial institutions.

According to Malauzai’s data of more than 850,000 digital banking users, mobile engagement has increased by more than 23 percent annually with Internet banking usage growth flat. Further, mobile-only users average 20 mobile logins per month in contrast to Internet banking users that average only 8 interactions per month. Click here for additional data on digital banking users.

Last year, Charlotte, N.C.-based Capital Bank successfully rolled out MalauzaiOne full digital banking including both mobile and legacy Internet banking solutions. As a result, adoption surged with a significant increase in mobile interactions and transactions completed, moving mobile banking ahead of legacy Internet banking in terms of how customers choose to engage with their bank. Additionally, the bank reported a significant reduction in its digital banking costs.

“Mobile engagement continues to be the key to our digital banking success,” said Zahid Afzal, CIO/COO, Capital Bank. ”With functional parity to our Internet banking, our mobile users are five times more engaged than Internet banking users. Together with Malauzai, we rolled out mobile and Internet banking, completing our digital transformation in less than a year for our sizeable customer base. Our customers now have a consistent experience in look and functionality; the adoption has been fantastic.”

71 percent of El Monte, Calif.-based, Vons Credit Union’s members are mobile-only users, making them best-in-class among Malauzai’s 350+ customers. Vons also leverages MalauzaiOne digital banking to offer a MOX (mobile-only experience) across channels with robust functionality including, member-to-member transfers, picture bill pay, check imaging, remote deposit capture (RDC) and robust account alerts.

“Since deploying digital banking, our member response has been tremendous,” said Donna Simpson, EVP COO, Vons Credit Union. “Our members can easily access their accounts, as well as enjoy innovative features and functionality regardless of their location. We have watched the numbers grow in adoption and also in usage and engagement across channels. We credit this early success to providing a unified member experience through MalauzaiOne.”

According to Malauzai, a MOX (mobile only experience) boosts customer and member engagement and optimizes the digital channel for the members and customers. On average, a typical bank or credit union has 25 percent of their end-users exclusive to the mobile channel. Best-in-class is 45% mobile-only. “That’s why we call it ‘mobile-only’ and not mobile-first, because people use the channel exclusively,” Robb Gaynor CPO for Malauzai, explained. Financial institutions that migrate to a true platform are able to further engage, while significantly driving down overall digital banking costs by 35%.