Mobile Banking Apps best practices
Mobile banking apps are now an essential part of our lives. But how did it happen? The banking sector is one that has seen a lot of changes in the past decade or two having gone from mainly in person payments to a full on new online model. In this day and age trips to the bank are pretty much ancient history when it comes to payments, transfers or even checking your balance or getting a new card. When it comes to mobile app development in the banking sector there are a few things that are crucial for the users. In this article we will explore the best practices on mobile app in the banking industry.
But first let’s dig some research and explore some data on mobile banking app users.
It is said that between 2021 and 2023, 73% of people in the US will use internet banking. The EY claims that 50% of consumers apply online for financial products and that payments transactions would likely reach $189.97 billion, covid being one of the factors.
The benefits of using a mobile banking app is the easy access to your account, online payments, online deposits, online loan payments, two step authentication and more importantly, the fact that you can do all that without even leaving your house.
It is not surprising that with all of this data mobile banking app development is going to keep increasing exponentially.
Best practices in mobile banking apps
When it comes to mobile app development in the banking sector it is important to get a few essential features such as a bank balance, history of transactions, setting saving goals, automation of payments and track spending. These are essentially the top features a banking mobile app development should contain to make it successful and functional to the users. According to studies these are the features that most consumers use everyday.
Whether your card has expired or if you simply want an extra card for different purposes, it’s always great to be able to do this from the comfort of your home. In banking mobile app development this is a feature that should be considered. This feature can be achieved with a simple form and a delivery address. This feature is extremely useful to avoid trips to the bank unnecessarily.
A virtual card is also a great way to offer a purely online purchase option for your customers as it avoids unnecessary logistics and costs for the bank.
ATM bank locator
This feature is also a must have in a banking mobile app development as it gives you a map of your location pinning all available places with an atm from your bank. This is particularly useful when you are about to go to a store that does not accept card payments so you have to withdraw cash.
QR Code payments
A QR code payment scanning integration is also a very great way to make payments easier. In a day and age where QR codes are taking over the world it is a very good feature to have to make a payment with almost zero clicks and zero fuss.
Payment blocking is also a way to provide your users with some safety net when it comes to fraud. Allowing users to set limits to payments amounts or even blocking car payments through suspicious channels allows users to feel a lot safer when using a banking mobile app.
Overall when creating a banking mobile app development it is imperative to design an easy but personalized platform for your users in order to make the experience useful to the consumer. It is important to design a safe, clean and transparent environment so users can enjoy the flexibility that it gives them.
For more information about mobile app development, please check our website: