Malauzai a top processor of mobile remote check deposits
Virtual Banking provider reports record growth in number of check deposits, processing more than 200,000 transactions each month
AUSTIN, TX (July 6, 2017) — Malauzai Software, a provider of mobile and Internet banking SmartApps™ for community financial institutions, announced today it is reaching record levels of mobile check deposits driving them to a position as one of the top remote deposit capture processors in the nation. Malauzai processes mobile check deposits for more than 350+ community financial institutions, where the feature is embedded in both the Mobile Banking App and Internet Banking. In 2017, Malauzai has reported a monthly increase of 3% to 5% in RDC usage, and is now processing more than 200,000 transactions each month.
According to Malauzai’s data, each active consumer deposits more than two items per month, and the average value of a deposit is around $450. The deposit amount may also vary depending on the channel; transaction values jumped to an average of $1,200 when deposits are made on a large format screen such as a tablet or desktop. Desktop deposits are also a factor, as approximately 2% of deposits come in via Internet Banking, if the bank or credit union chooses to offer the Remote Deposit feature as part of legacy Internet Banking.
Malauzai has strategically partnered with ten (10) of the top RDC providers to seamlessly integrate remote check capture into its digital banking platform, providing financial institutions a rapidly deployable mobile deposit solution.
“Having innovative partners like Malauzai in our corner is vital,” explained Xan Kasprzak, vice president of Risk Management and Client Relations at Ensenta. “Together with Malauzai, we are able to provide innovative solutions to financial institutions that, in turn, help them better serve their account holders. We are thrilled to be able to work with such a forward-thinking partner and appreciate the competitive edge with which they have provided us.”
“Check Deposit is a must-have in Mobile Banking,” explained Robb Gaynor, chief product officer at Malauzai. “There are so many great partners who provide this unique service, and we are lucky to be in the mix. At Malauzai, our goal is to help our customers maintain that competitive edge, while making the process of innovation easy. With remote check capture, we have created a substantial revenue stream and everyone wins, starting with the end-user of Mobile Banking.”
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.
Trusted by the U.S. Treasury and more than 1,100 financial institutions, Ensenta is a provider of innovative enterprise-wide SaaS solutions for mobile and online deposits and payments. Its Safer and Smarter™ real-time SaaS payment technologies, mitigate risk, minimize compliance exposure, increases back-office efficiencies, and improves funds availability. Ensenta’s products and services are distributed by leading mobile and online banking providers, core banking processors and ATM networks and manufacturers. Ensenta received two XCelent awards for technology and functionality by Celent. For more information, visit Ensenta’s website at www.ensenta.com, or follow them on Twitter @Ensenta, LinkedIn, or Facebook.
Malauzai Software, Inc.
12301 Research Blvd.
Building V, Suite 100
Austin, TX 78759
(512) 961-5699 firstname.lastname@example.org