Vons Credit Union announced that for the first time, mobile engagement surpassed internet banking interactions. The credit union utilizes the Austin, Texas-based digital banking provider Malauzai's MalauzaiOne virtual banking solution.
According to Malauzai's data of more than 850,000 digital banking users, mobile engagement has increased by more than 23% annually with internet banking usage growth remaining flat. Further, mobile-only users average 20 mobile logins per month in contrast to internet banking users, who average only eight interactions per month.
Seventy-one percent of the $500 million, El Monte, Calif.-based Vons CU's members are mobile-only users, making them best-in-class among Malauzai's 350-plus customers. Vons CU leverages MalauzaiOne digital banking to offer a mobile-only experience across channels with robust functionality, including member-to-member transfers, picture bill pay, check imaging, remote deposit capture and robust account alerts.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
