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Malauzai Releases Mobile Banking Research Report Based on Usage Data
Oct 16 - Malauzai, a provider of mobile banking SmartApps for community financial institutions, has released Monkey Insights, a monthly research service based on the company’s real-time experience behavioral analytics. Monkey Insights will reports on two indices: The Mobile Engagement Index, which tracks end-user engagement with mobile banking and the M-Money Index, which summarizes statistics related to mobile money movement such as transfers, bill payments and deposits.
Each month, Malauzai will analyze the user behavior associated with more than 350,000 unique log-ins and nearly 52,000 registered users to provide a summary index for both engagement and money movement. The MEI shows how end-user engagement with mobile banking changes over time, exploring metrics such as log-in frequency, feature usage and overall end-user activity to derive a unique engagement score. The MMI measures the usage of mobile money movement services with the transaction volumes and the breadth of money movement services influencing the overall score. Both indices are reported at an aggregate level and on a platform-specific level for iOS, Android and iPad tablets.
Community institutions leveraging Malauzai SmartApps receive their personalized metrics on all aspects of the mobile experience on a daily, weekly, monthly or annual basis. Through a series of easily accessible reports, banks and credit unions can gauge the success of any area of their mobile banking channels, from customer and member usage to the effectiveness of marketing campaigns. While this information was previously given exclusively to Malauzai customers, Monkey Insights compiles data from a sampling of more than 40 banks and credit unions within the company’s customer base to provide an industry-wide picture of mobile banking usage.
“Our customers are taking the REBA mobile usage data and creating actionable change within their mobile programs,” said Robb Gaynor, chief product officer and co-founder of Malauzai. “Within our mobile banking SmartApps, we can track every nuance of users’ interaction, and this allows us to constantly evolve the user experience. With Monkey Insights and the new indices, we have turned that aggregate level mobile banking usage data into a form that can be absorbed by the broader mobile industry. In the past, most industry research has been based on surveys. Monkey Insights is the first research tool to be based on behavioral analysis, what end-users actually do as opposed to what they say they do on a survey.”
Monkey Insights will be published the first week of each month. The report will be posted on the Malauzai website and Facebook page for public distribution.
About Malauzai Software
Malauzai was incorporated in 2009 in response to the growing demand in the mobile channel marketplace. As a leading-edge company in a cool town, with a focus primarily on community financial institutions, Malauzai looks to provide mobile solutions that will enhance the customer experience ultimately resulting in increased value.