Horicon Bank, in collaboration with global Fintech company Finastra, and Malauzai, and led by an innovative banker, CIO Mark Nelson, has successfully digitally transformed the bank, recently developing and deploying a full digital banking platform for both its retail and business customers.
Taking a phased approach to the roll-out, the bank successfully launched the online and mobile banking platform for retail customers in January 2018 with plans to launch the business platform this Summer. Additionally, the bank recently completed a successful pilot of its modern payments solution for businesses, HB Pay, which will be available for business customers later this month, helping these businesses get paid faster and cheaper.
Horicon’s digital transformation has been led by the bank’s CIO, Mark Nelson a recognized technology leader within community banking. Headquartered in Horicon, WI the bank has more than $680 million in assets and operates 15 branches throughout east-central Wisconsin, offering a complete portfolio of consumer and business banking services and solutions.
“My focus has always been on meeting the needs of our customers, both businesses and consumers. I recognized we needed an advanced digital banking solution, we needed to digitally transform our self-service channels. Consumers are going to get a great set of new features and advancements.
In addition, businesses are going to benefit with an offering that scales from a smartphone to the desktop. We service a lot of small business owners that work in the agricultural community, and they have unique banking needs.
We evaluated customer needs in advance to understand how they would actually use the solution, what features added the most value and what was missing from other solutions in the market. Having a sophisticated business offering is a huge competitive advantage.”
Taking advantage of key core data from Finastra’s Fusion Phoenix retail core banking system that feeds directly into Malauzai, Horicon’s customers have access to an enhanced set of digital services.
The offering includes an easy to use interface for desktop Internet Banking and native Mobile Banking apps for smartphones, electronic statements, bill pay, check imaging, remote deposit capture (RDC), and expanded digital alerts delivered via push notification, text, and email. Additionally, customers have access to financial management and budgeting tools that can be used across both personal and business accounts.
Business owners will also have access to a treasury management system that facilitates payment processing, as well as other tools to more effectively manage funds, receivables, payables and cash flow in a timely manner. With the new solution and an emphasis on helping the businesses get paid, Horicon will be able to transform the local business community and lead them into the digital future.
“Horicon Bank, with Mark’s leadership, is one of the most innovative banks we partner with,” said Robb Gaynor, chief product officer for Malauzai. “The bank understands that the key to success in this market is to really focus on the end-user experience and design a product that is unique and feature-rich. This is a really exciting time for Horicon and its customers. We believe it will be a game changer in their community.”
Nelson will be presenting at a Power Breakfast hosted by Finastra on Wednesday, May 9 at 8:00 a.m. Pacific at the Financial Brand Forum: Out-Innovating the Competition – A Playbook for Community Banks and Credit Unions.
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™, that enhance the customer experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions.
