Mahalo eyes 1,200% growth in 2020
CHELSEA, MI (January 14, 2020) — It’s go time at Mahalo Banking. The digital banking company is ahead of schedule on its 2020 goal to go live with one new credit union every month.
That sounds impressive, but consider this: Mahalo currently only has one live credit union on its platform. If it reaches its goal of finishing the year with 13 live credit unions, that’s a 1,200% increase.
Mahalo’s implementation calendar is already booked up through October, and with many more credit unions in the pipeline, the fintech founded by former credit union technology professionals has momentum. However, CEO Alan Augustine stressed he’s keeping a steady hand on the wheel, making sure the company doesn’t grow too large, too fast.
“We’re focused on building a product that doesn’t turn into a legacy system in 10 years,” he stated. “We’re getting a lot of business from credit unions that are giving up on our competitors because they aren’t upgrading, aren’t making digital banking seamless between online and mobile, don’t take a core centric approach, and basically are not doing the things credit unions need to remain relevant. We refuse to suffer the same fate.”
That means using the system’s open architecture to provide complete customization for credit unions, which requires a deep integration to whichever core a credit union is currently using or planning to convert to. Mahalo’s 11 signed credit unions run on five different core systems, which Augustine said he feels good about because it proves the system is core independent.
“We want all credit unions to have access to great technology,” he said. “And we’re going to do that by setting the standard for digital banking with top-end technology, a credit union service philosophy and appropriate pricing.”
Mahalo’s lasting success also depends on its team. Augustine said his leadership team recruits employees who not only know technology, they are dedicated to growing the credit union system in a meaningful way.
“We’re in this to contribute a positive impact to the credit union movement over the long haul,” he asserted. “We want every deployment to be a home run and be the sales platform for the future.”
Alan Augustine.
About Mahalo Technologies
Mahalo Technologies, Inc. provides online and mobile banking solutions for credit unions. Based in Troy, Mich., the Mahalo platform is designed and built on superior architecture with deep integration to core processing, providing security and a robust feature set across all delivery channels for a true omniexperience. Mahalo banking is feature-rich and price competitive to help all credit unions achieve a technology advantage in the marketplace. For more information on Mahalo banking, please visit us at mahalobanking.com.
