Malauzai Partners with Vantiv to Launch SmartKid Control to Teach Teens and Tweens Responsible Spending
SmartApps provider strengthens mobile, online platform with family entitlements
AUSTIN, Texas (May 19, 2017) – Malauzai Software, a provider of mobile and Internet banking SmartApps® for community financial institutions, today announced a partnership with Vantiv, a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, to launch Family Manager: SmartKid Control. The Vantiv solution, powered by OnDot, will be incorporated into Malauzai’s mobile platform and can be accessed by SmartApp® users.
Robb Gaynor, chief product officer for Malauzai, commented, “By partnering with Vantiv, we are allowing families the opportunity to include their children in the financial dialogue. Teaching children how to be responsible with their money is what inspired us to create SmartKid Control, and we are determined to consistently provide the tools and ability for consumers to tailor their programs to fit their specific needs.”
Through the partnership, financial institutions leveraging the SmartKid Control functionality can provide SmartApp users with full payments and transaction monitoring as well as the ability to ensure that funds are being spent accordingly. With the enhanced card controls power, administrators can assign user privileges and children can then set their own spending limits and alerts, essentially learning how to handle their finances while being monitored by their parents. The app would monitor purchases and locations where the card can be used and for how much. For instance, the card could be programmed to work at a restaurant and not at a liquor store.
“Consumers expect an experience that is convenient and mobile-forward, which is exactly what SmartKid Control will deliver across any device,” said Mick Oppy, vice president of product, financial institutions at Vantiv. “Our commitment to providing innovative tools, while fostering financial education is a passion we share with Malauzai. It is important for consumers to have complete control of their family’s finances, and to do it in one place.”
The response to SmartKid Control has been tremendous. By addressing real-life payment scenarios, financial institutions are able to build loyalty among account holders, differentiate themselves in an increasingly competitive environment, and provide a product that brings immediate, tangible value to account holders.
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. Malauzai provides Consumer, Small Business, Business, Employee SmartApps®, SmartwebApps and SmartwearApps that enhance the end-user experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions.
Vantiv, Inc. (NYSE: VNTV) is a leading payment processor differentiated by an integrated technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes, enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is now the largest merchant acquirer and PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high-growth channels and verticals, including integrated payments, eCommerce, and merchant bank. Visit us at www.vantiv.com, or follow us on Twitter, Facebook, LinkedIn, Google+ and YouTube.