| [July 18, 2017] |
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Malauzai's Monkey Insights Analyzes Mobile Banking Apps Available in Store
Malauzai
Software, a provider of mobile and Internet banking SmartApps™ for
community financial institutions, released its July Monkey Insights that
specifically looked at Mobile Banking Apps available in the App Store as
well as Google (News - Alert) Play for community banks and credit unions. June 2017
data from 435+ banks and credit unions, covering 14.5 million logins and
790,000 active Internet and Mobile Banking users was analyzed.
Key findings include:
-
6% Growth in Consumer Mobile Banking Apps: For the second year in a
row, overall growth is not substantial; however, there were 352 new
Mobile Banking apps and now there are more than 6000;
-
50% Growth in Business Mobile Banking Apps: While this sounds strong,
the reality is the total number of stand-alone business banking mobile
apps is just 398; it only increased by about 120 (Point of note - when
Consumer Mobile Banking first launched, year-over-yea growth was
somewhere near 300%);
-
Card Management is Gaining Traction: This is the first year looking at
this data point, and we are very encouraged. There are 422 mobile
banking apps with Card Controls, which is more than stand-alone
business mobile apps; and
-
103% Growth in P2P: By far Person-to-Person payments excelled. 103%
more financial institutions added P2P capability. Now there are 785
institutions that offer a version of this but usage still remains
relatively low; we except to see this soar in the future.
Robb Gaynor, Malauzai chief product officer, reviews the company's data
monthly to determine what trends would be of interest to financial
institutions. "This is the fifth summer that Malauzai has conducted
primary research to count the number of mobile banking apps in the App
Store and Google Play for community banks and credit unions. Later this
summer, we will issue a detailed research report but some of the most
interesting facts are presented above. I look forward to seeing what
additional trends may come to light upon further analysis."
Read the full Monkey Insights here.
About Malauzai Software
Malauzai was incorporated in 2009 in response to the growing demand for
a technology company that could provide innovative mobile solutions for
community financial organizations. As a cool company in a cool town with
a focus primarily on community financial institutions, Malauzai provides
Consumer, Small Business, Business, Employee SmartApps, SmartwebApps and
SmartwearApps that enhance the customer experience for mobile and
Internet banking, ultimately resulting in increased value for financial
institutions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170718006287/en/
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