Somerset Trust Company Boosts Digital Banking, Extends to Business Users

Business owners gain access to powerful financial management tools, aggregate account access, and receivable-centric features to get paid faster 

Malauzai Software, a provider of digital banking for community financial institutions, today announced Somerset Trust Company is extending its digital banking service to business users. Leveraging MalauzaiOne, a single platform for digital banking, the bank initially launched its award-winning digital banking services to its retail customers. This latest roll-out provides customers access to multiple accounts using a single sign-on (including both business and retail accounts), powerful financial management tools and new receivables functions designed to help businesses get paid faster.

“The response to our digital banking offerings from our retail customers has been tremendous,” said John Gill, COO of Somerset Bank. “Now it’s time to extend this capability to our business customers.  We credit much of this initial success to our long-term partnership with Malauzai; we consider them an extension of our team. By aligning with Malauzai, we were able to expand the innovative solutions we already provide and design a cutting edge digital banking solution that both our retail and business customers can use interchangeably and seamlessly.”

Based in Somerset, Penn., a growing majority of the bank’s customers are small business owners, a market segment that according to the bank has traditionally been underserved by digital banking solutions. The bank can now provide business owners consolidated access to digitally view and manage all accounts including personal/retail accounts, a simple workflow to better manage payments and control costs, as well as new receivable features designed to help business get paid faster.

“We are proud to partner with forward-thinking institutions like Somerset,” said Robb Gaynor, chief product officer, Malauzai. “Up until now, business digital banking and consumer digital banking were delivered on separate platforms.  Now they are on a single platform, and it is great to see Banks like Somerset benefit from what Malauzai’s single platform delivers; better engagement with customers, less complexity in their back-office and ultimately much lower costs to support the digital channels.”

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.

Somerset Trust Company is a community bank headquartered on Somerset with a network of 32 branches serving Somerset, Cambria, Fayette, Westmoreland, and Bedford Counties and Garrett County, Maryland. The bank also offers an extensive ATM network, consumer and commercial lending services, an online and mobile banking platform as well as Trust and Investment Management services.