CHICAGO — When it comes to iPhone apps, credit unions have a considerable lead over banks, according to Malauzai Software.
When a business tries mobile banking, it tends to like it and to linger in long sessions.
Malauzai report finds the average session lasts 2.29 minutes, a minute longer than a consumer’s session.
Credit unions seeing 9% to 10% monthly growth rates, compared to 7% mobile growth for banks.
Mobile RDC is experiencing rapid adoption, but mobile photo bill pay has not been as warmly received.
Average mobile banking transaction amount for iPad users almost twice as high as smartphone users.
Software developer says 2013 growth fueled by new products and clients replacing existing mobile apps.
Malauzai Software says average monthly growth rate is 4.19% among its 108 credit union and bank clients.
Last month, the $780 million 3Rivers Federal Credit Union of Fort Wayne, Ind., became the nation’s first credit union to launch Picture Pay.
3Rivers CU in Fort Wayne rolls out service from Malauzai Software and Allied Payment Network.