Malauzai Software, an Austin, Texas-based provider of mobile banking smart apps for community financial institutions, has seen significant growth in banking via the smartphone camera in the first half of 2014, the company reported in a news release.

For instance, PicturePay, developed by Malauzai and Allied Payment Network, now sees three to four times more use than standard mobile bill pay, with an average payment value increase of 20 percent year over year, according to the company.

"The feature improves convenience for our customers by taking the tedious ‘add a payee’ step out of bill pay,” said Jeff Casey, SVP of alternative delivery channels at Abilene, Texas-based First Financial Bankshares. "We have seen an 80 percent increase in transaction volume with a 35 percent uptick in the number of customers using the feature.”

Malauzai also hasreported an increase of nearly 62 percent in the use of MRDC in the first half of 2014, as well as growth in mobile customer onboarding, which uses the smartphone camera to take pictures of documents required for new account opening.  

"[T]he smartphone camera is the perfect conduit for mobile banking innovation as accountholders embrace the idea of conducting financial business via pictures," said Malauzai chief product officer Robb Gaynor.