AUSTIN, Texas (9/18/13)--Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, including credit unions, has added personal finance management (PFM) functionality to its banking iPad SmartApp.
The addition, called Better Mobile, gives users access to basic PFM features that are most used by consumers. The Future Cash Calendar displays money movement on a visual calendar and calculates what the balance will be on each date. Transaction history is shown in cash flows as a simplified bar chart indicating "money in" and "money out," providing a visualization of how money is used during a given period. Scratch Pad notes paper checks and other transactions not yet withdrawn and accounts for them in the balance.
Malauzai launched the first phase of its iPad SmartApp in March and said it saw significant interest among its credit union and community bank clients. The company reported in its July Monkey Insights mobile banking usage data report that iPad users spend 50% more time on mobile banking than those using smartphones. This makes the platform ideal for more in depth banking functionality such as PFM, the company said.