The latest data dump from Malauzai Software, which now provides mobile banking apps to 108 credit unions and banks, reveals continued, strong growth in mobile banking usage.
The Austin, Texas-based firm's July numbers released Aug. 20 show that among financial institutions that have offered mobile banking for at least one year, "The average month-over-month [member usage] growth rate is 4.19%. The best-in-class number is 11.56% with several banks and [credit unions] topping 10%."
Users are flocking to mobile banking, per Malauzai, which reported, "Best in class banks and credit unions are reporting between 37% and 39% of their total households or deposit accounts are using the mobile banking SmartApp. The average is between 17% and 21%."
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