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Malauzai Notes Mobile Camera Banking Usage

Monday, August 25, 2014 5:00:00 AM PDT | VentureDeal
   Austin, Texas  -- Malauzai Software said that its data shows that the use of mobile cameras for banking institutions has increased significantly.

Malauzai co-developed PicturePay, a mobile photo bill pay service, and said that it has been adopted by more than 14 institutions with an average payment value increase of 20% year over year.

Its Mobile Remote Deposit Capture system, in use at more than 90 banks and credit unions, has increased in usage by 62% in 2014.

The company also said that one growing area is mobile account opening and on-boarding. The camera is used by branch employees needing to take photos of customer documents, speeding up the customer service process.

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