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Colorado’s PSCU Completes MalauzaiOne Digital Banking Roll Out

Chalk another one up for the Malauzai Monkeys.

The third largest credit union in Colorado, Public Service Credit Union (PSCU) with more than $2.3 billion in assets and 219,00 members, has completed the roll-out of its new digital banking platform – powered by Malauzai Software. PSCU CEO Todd Marksberry said the Austin, Texas digital banking solutions provider was the only company able to deliver a fully-digital banking platform that could serve both its credit unions retail and business members.

“MalauzaiOne Digital Banking was the only solution that provided a unified member experience across all digital channels on a single platform,” Marksberry explained, pointing to the platform’s “feature-rich tools” for PSCU’s business banking members. “Despite the growing number of small businesses nationwide,” he added, “there continues to be a void in terms of digital banking tools that meet their needs.”

With MalauzaiOne Digital Banking, PSCU My eBanking mobile and online banking app users can access a suite of services including online and mobile banking, electronic statements, billpay, check imaging, remote deposit capture (RDC), and text/email alerts. PSCU retail and business members alike can also take advantage of financial management and budgeting tools. And as a single, end-to-end platform, Malauzai chief product officer Robb Gaynor explained, the technology provides a number of advantages for both FIs and customers. “We are easing maintenance, lowering costs, and supporting the overall simplicity of their digital banking efforts,” Gaynor said. PSCU notes that more than 91,000 members are actively using their digital banking technology.

Founded in 2009 and based in Austin, Texas, Malauzai Software demonstrated MOX Pay Powered by Visual App Builder at FinovateSpring 2016. Last month, Malauzai reported more than 200,000 mobile check deposit transactions per month and a monthly increase of 3% to 5% in overall RDC usage this year. In May, the company partnered with fellow Finovate alums Vantiv and OnDot to develop a youth spending solution, Family Manager: SmartKid Control. Malauzai began 2017 with the tailwind of a strong 2016, having expanded its customer base to more than 425 community FIs, grew the number of downloads of its SmartApps to more than 1.2 million, and established more than 200 points of integration, including with more than 40 core banking providers and payment processors. Malauzai has raised more than $24 million in funding and includes Live Oak Banking Company and Wellington Management among its investors.

PSCU is headquartered in Lone Tree, Colorado and was founded in 1938. The credit union has more than 28 branches in Colorado, and offers a wide range of financial products and services including savings and checking accounts, loans, mortgages, mobile banking, online billpay and more.