|[January 23, 2014]
Malauzai Software Reports Major Growth in 2013
AUSTIN, Texas --(Business Wire)--
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 Pictue 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
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.
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