Malauzai’s Monkey Insights Analyzes Trends in Internet and Mobile Banking Usage

AUSTIN, Texas–(BUSINESS WIRE)–#digitalbankingMalauzai
, a provider of mobile and Internet solutions for
community financial institutions, released its January 2018 Monkey
Insights that highlights key trends in Internet and mobile banking usage
based on January’s data for 400+ banks & credit unions, covering 16.9
million logins from 895,000 active Internet and mobile banking users.

This report focuses on “Scrapegators,” who are also known as
“Aggregators;” the vendors who scrape Internet banking to feed data to
other fintech applications. Banking customers, in droves, are choosing
to use third-party financial applications not the Internet banking site
provided by the bank or credit union.

Key findings include:

  • 8% of Internet banking logins are scraping sessions;
  • Balances and transaction history equal 90% of activity;
  • 93% of end-users also use Internet banking;
  • Mint, Yodlee & Intuit are “The Big Three” scrapegators; and
  • Transaction failure rates are high; 5% – 7%.

Malauzai’s Chief Product Officer, Robb Gaynor, analyzes the company’s
data each month to determine what trends that financial institutions
might find beneficial and interesting. “The bottom line is that
consumers are choosing to use third party applications, not their
Internet Banking sites. This trend is highly significant given the
advent of the movement towards Open Financial API’s; everyone’s talking
about it. Banks and credit unions better get a handle on this trend or
it will continue to drive a wedge between them and their
customers/members. They must find ways to align interests with the
fIntechs, this is the real opportunity.”

Read the full Monkey Insights here.

About Malauzai Software

Malauzai was incorporated in 2009 in response to the growing demand for
a technology company that could provide innovative mobile solutions for
community financial organizations. As a cool company in a cool town with
a focus primarily on community financial institutions, Malauzai provides
Consumer, Small Business, Business, Employee SmartApps, SmartwebApps and
SmartwearApps that enhance the customer experience for mobile and
Internet banking, ultimately resulting in increased value for financial


For Malauzai Software
Anna Stanley, 251-517-7857
Laws, 678-781-7206