AUSTIN, Texas (11/20/15)--Financial institutions offering consumer mobile banking apps increased by 25% between 2014 and 2015, according to new research from Malauzai Software, a provider of mobile and Internet banking apps for community financial institutions.
Malauzai reviewed 7,754 credit unions and banks 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:
Malauzai also explored the most widely used vendors, finding that the top 10 mobile app vendors held 81% 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. Gaynor said it is important to see the traction mobile banking is gaining and identify the devices customers prefer as the functionality of mobile banking advances.