Global Fintech Interview with Jim Stickley, Chief Executive Officer at Mahalo Banking

Hi Jim, welcome to Fintech Interview Series. Please tell us about your fintech journey so far.

My career spans more than 25 years in cybersecurity, including my current stint with Mahalo Banking.

I gained experience programming computer systems at a young age, and I began development work for corporations as a teenager. After graduating high school, I entered the tech field by working with cybersecurity companies helping set up their security infrastructure – this was ultimately the catalyst for my career in cybersecurity.

When digital banking was still in its infancy and I was early in my career, I worked with credit unions to help them get online securely. I spent years researching security risks and vulnerabilities during this time, and ultimately this led me to co-found Trace Security. After spending over a decade building up Trace, I shifted my focus to helping organizations and their members with cybersecurity education. This was when I formed Stickley on Security Inc. My career has given me the opportunity to facilitate security services for financial institutions, Fortune 100 corporations, healthcare facilities, legal firms and insurance companies and government agencies.

In 2021, I became the president and CEO of Mahalo Banking, an exceptionally innovative digital banking solution. This new role allows me to not only work with an amazing team but also to help credit unions continue to drive cybersecurity security innovation through their banking technology.

Please tell us something about your company Mahalo. What services do you currently offer to your customers?

At Mahalo Banking, we provide online and mobile banking solutions for credit unions. Our platform is designed and built on superior architecture with deep integration to core processing, providing security and a robust feature set across all delivery channels for a true omni experience. We also provide the industry’s first and only online banking solution to fully integrate comprehensive neurodiverse functionality directly into its platform. This inclusive approach allows credit unions to support and embrace all members and accommodate their unique needs.

We recently launched an enhanced version of our platform that now caters to the neurodiversity of memberships. Our solution is the industry’s first and only online banking solution to fully integrate comprehensive neurodiverse functionality directly into its platform. This inclusive approach allows credit unions to support and embrace all members and accommodate their unique needs. Our redesigned platform features several new functionality options targeted to cater to neurodiverse abilities and cognitive distinctions such as dyslexia, autism, ADD, ADHD, epilepsy, visual sensitivity, ASD and more. Among the platform’s new features such as left- and right-hand use modes, font/color options for those with dyslexia or visual impairments and the ability to disable animations for individuals affected by epilepsy.

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By collaborating with Park View, what features are you providing to the members in the areas of self-service capabilities and financial wellness opportunities.

We formed a close partnership with Park View Federal Credit Union as we were developing the neurodiversity features for our platform. When we began designing the revamped platform, we didn’t want to be in a bubble. We went to Park View to ensure our software in development would be truly valuable to our credit union customers and their members. The firsthand experiences of Park View’s members provided us with valuable insights that were helpful as we worked to create solutions that would truly be impactful within the digital banking experience.

When digital banking, we obviously provide the basics that members have come to expect.  Among the included features are real-time remote deposits with the ability to add custom memos, ACH origination through the core that creates a seamless money transfer experience and direct deposit allocations that enable members to easily schedule payments and transfers.  But as Park View found, it’s the little things that we refer to as “Thoughtful Banking” that truly set us apart. For example, our heavy support of neurodiverse functionality changes everything. These features allow every member to experience both web and mobile banking in a way that is not only user friendly, but allows them to customize their experience to best support their diverse needs. So, if for example a member is dyslexic, they can simply select to change the font to one specifically designed for dyslexic readers.

Park View also prioritizes philanthropy and has implemented a donation tool through our platform that enables its members to make charitable contributions to local nonprofits within the membership base at no additional cost to the member or the receiving organization.

I am clearly excited about what we have created here and could spend several hours just focused on this topic. Ultimately, by collaborating not only with Park View but with all our credit union partners, we have built something that we are all very proud of.

The digital age has made clients’ data more vulnerable than ever. What measures have you taken to protect and secure confidentiality?

At Mahalo, we understand that cybersecurity has to be incorporated at the beginning of any project design and not at the end. What this means is that when we look to create any new functionality, from the very beginning of the design process, we look to see what risks could be presented and then design security into the functionality before development even begins. In addition, we continuously monitor the security landscape both in the financial sector, as well as corporate and government risks. We work in an incredibly dynamic space, and if you are not constantly looking forward to keep up with how criminals are shifting their attack tactics, you will inevitably fall behind in incorporating the tools need to protect credit unions and their members from these inevitable attacks.

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Could you explain your client acquisition approach and how you employ Marketing and Sales technologies to meet market demands?

While we work with marketing agencies to ensure our message gets out, the reality is that the lion’s share of our leads come directly from referrals from our existing customer base. Credit unions are a very tight-knit group and are not shy when it comes to being open about their experiences with their vendor partners. Our job is to ensure that we give 100% satisfaction through innovative technology, excellent customer service and, most importantly, meeting deadlines. We have worked very hard to ensure our customers are not just happy, but want to talk about our solution with their peers.

What is your take on the CAGR of the banking industry? What figure are you aiming at?

We are not looking at growth in this way. Our investors and board have one primary goal and that is customer satisfaction. Instead of setting arbitrary numbers and then potentially forcing deals to meet those numbers, we have taken a different approach. We look at each new potential client partner to see if we can give them exactly what they want in the time-frame that they need it. If we can’t, we are completely transparent and simply pass on the deal. We want every client to have the same incredibly positive experience and if we feel there is any reason we can’t ensure that experience, we would rather walk away from the opportunity than risk disappointment. This has allowed Mahalo to build a reputation of mutual trust in the credit union community.

Can we expect any diversification as of 2025 with Mahalo?

Diversification can be a dangerous concept. At Mahalo, we do digital banking and that will continue to be our fundamental core. That said, there are many ancillary features that can fall under that primary digital banking umbrella, and we will continue to incorporate these features as it makes sense. Our top priority is continuing to enhance our existing platform to ensure we meet the changing needs of our credit union members. For example, we will expand upon our platform’s neurodiverse capabilities.

We also work incredibly closely with our credit union partners, to monitor evolving patterns of their members. This allows our team to continue to innovate based directly on these member needs. We are very proud of our next-gen banking platform, but we know that in the fintech space, you either continue to innovate or you become obsolete.

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Given a chance to change any one thing about the banking industry, what would it be?

Working in the digital banking space, it seems common to lose sight of what matters most when creating innovative solutions – the customer experience. Many providers today deliver extensive functionality options with the goal of being able to offer any service imaginable for every financial institution. Yet, many of these vendors aren’t focusing on the human aspect of the digital experience they develop for FIs.

At Mahalo, we feel that the best way to create truly impactful banking technology is by listening to the credit unions and members we serve to better understand their needs and expectations. We want to create a platform that offers digital banking humanized. That’s why our technology includes thoughtful functionality that takes into consideration how each member accesses the technology to ensure every user enjoys a pleasant, seamless experience.

Thank you, Jim! That was fun and we hope to see you back on globalfintechseries.com soon.

[To share your insights with us, please write to sghosh@martechseries.com]