Gone are the days when people used to throng to a bank to check their account balance, make payments or transfer funds. Today, mobile banking applications are capable of managing all these tasks with great ease and perfection. Statistics reveal that more than more than 10 million people use mobile banking of a fairly regular basis. According to Forrester Research, over 20% of smartphone users are expected to make use of it by the end of 2015.
The number of application developers that are working on mobile banking apps is also growing at a brisk pace. There is no doubt about the fact that creating a mobile banking app can be a profitable deal provided you partner with the right bank.
Essential Features in The Application
Making a mobile banking app that offers people all the features that they get on the web version isn’t an easy task. App entrepreneurs must employ the best developers to strike a balance between flawless performance and productivity. Here are the top features that you cannot afford to miss in the mobile banking app:
- Security: A majority of mobile users hesitate to using a banking application on their device fearing security concerns and information theft. There are a host of encryption features like SSL that can be bundled along with the app in order to boost up security.
- Remote Bill Payment: A mobile banking app with an ability to pay bills can be a hit right away. In this fast paced world where nobody has time to stand in long queues and pay utility bills, this can be a very handy feature.
- Check Account Details: Customers wouldn’t need to wait for a monthly statement or log in from a computer when all their account information is available on the application. It just adds to their convenience.
- Transfer Money: Digital transfer of money is another great feature without which no mobile banking app is complete.
Current Market Trends
It has been seen that not all banks have a dedicated mobile banking app. Being an app entrepreneur, if you are confident of including all the aforementioned features in one single app it would mean a win-win situation for you as well as for the bank. Leading banks are always in search of the right team to expand their reach and help existing customers while luring new ones with amazing schemes.
With smartphones becoming an integral part of our lives, it has become essential to provide productivity tools to people so that they always stay connected even while on the move. A cross-platform mobile banking application does exactly that.