Malauzai releases mobile app research
Mobile app penetration index depicts use of consumer, business, RDC apps across U.S. institutions
AUSTIN, TX (November 17, 2015) — Malauzai Software, a provider of mobile and Internet banking SmartApps for community financial institutions, has released research depicting the mobile app usage of 7,754 financial institutions across the U.S.
Malauzai reviewed banks and credit unions with assets ranging from $50 million to $15 billion, uncovering the growth rate of institutions offering consumer and business apps.
Key findings of the research include:
- Between 2014 and 2015, there was a 25 percent growth rate of financial institutions with consumer mobile banking apps;
- Of institutions with iPhone apps, 99 percent also provide Android apps and 61 percent provide iPad apps;
- There are more than 150 business mobile apps specifically built for businesses and more than 140 apps for stand-alone remote check capture; usually a stand-alone app is necessary when an institution’s primary mobile vendor cannot build out RDC fast enough; and
- The upper Midwest currently has the highest penetration of mobile banking apps among financial institutions.
Malauzai also explored the most widely used vendors, finding that the top 10 mobile app vendors hold 81 percent of the market share.
“This is our third year doing this research, and each year we identify the banks and credit unions across the country leveraging mobile banking apps to really push innovation,” said Robb Gaynor, Malauzai’s chief product officer. “To us, it is important to see the traction mobile banking is gaining and the devices customers prefer, and we are pleased to share this information with the industry at large. As the functionality of mobile banking advances, we look forward to watching this research evolve in the years to come.”
Accompanying this news release is an infographic displaying full findings of the study.
Mobile Banking App Penetration Index 2015
About Malauzi 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, Employee SmartApps, SmartwebApps and SmartwearApps that enhance the customer experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions.