Report shows how consumers use apps

Malauzai Software, Inc., a mobile and internet banking firm, recently released a report that aggregated statistics from more than 435 banks and credit unions, covering 13.2 million logins from 730,000 active internet and mobile banking users. The study points out that that most mobile banking users stick to the basics when using an app with […]

Malauzai Software, Inc., a mobile and internet banking firm, recently released a report that aggregated statistics from more than 435 banks and credit unions, covering 13.2 million logins from 730,000 active internet and mobile banking users.

The study points out that that most mobile banking users stick to the basics when using an app with the most tapped features being account balance, transaction history, and money transfer.

Robb Gaynor, founder and chief product officer of Malauzai Software, Inc., says that an average mobile banker logs in 19 times a month, while an average internet user logs in eight times a month. During March 2017, for example, 100 percent of end-users viewed their balances and reviewed recent transaction history. But that statistic can be a bit misleading.

“Only 23 percent of the overall interactions in digital banking go beyond balances and history to perform some other task,” he said. Read the full article at CU Journal.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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