There has been a rapid increase in the number of people who manage their money via online these days, which, certainly emphasise importance of banking apps. Gone are the days when we need to spend long hours while standing in the queues for cash withdrawal and deposits in banks. With apps becoming a necessity for every industry, almost every other bank are developing apps for making their service more accessible and personalised.
Considering the same, following here are some of the best innovations in the domain of mobile banking for maximising downloads, enhancing user experience and increasing customer loyalty.
User Experience Innovations
Giving focus to an excellent user experience has become the major concern of banks and eying this fact, here are some of the innovative features released by them.
- Improved Transactions
Banks are making great efforts to cater the basic needs of users and included a series of essential features. Nowadays, people can make P2P payments, pay bills and even add a payee without no need of online registration. Furthermore, the number of ‘real-time’ money transfers is rapidly increasing along with the wide acceptance of contact-less mobile payments.
- Money Management Tools
With apps, customers can get access to their transactional history, suggestions or tips on financial planning, forecasting and much more. Furthermore, good communication between the customer support team and customers becomes much easy with mobile banking apps.
- Simple Login and ‘Explainer’ Videos
Not all customers are tech-savvy and so, banking apps mostly host a simple login process and easy-to-navigate features. With specific and easy to understand explainer videos, you get the right way to access your accounts easily and faster. You do not need to get tied to your personal computer or laptop to check account balances or make online transfers anymore. All you need to do is just pick your phone to stay abreast of your finances.
- Extensive Security
Customers often feel that these are comparatively less secure than visiting the local branch or nearest ATM. However, the security systems and user password of apps are generally proven and strict. While considering the security perspective, the user must deploy a good and tested Internet hygiene while using a banking app. Moreover, it is important for them to download apps from trusted web sources and websites.
- Synchronisation with other Money Applications of the User
All the money managing apps of users get automatically synced with their online banking information. This helps users to stick to their budget. Updating your accounts on other money management apps becomes simpler with these banking applications and users can get better scope of viewing a clear picture of their financial inflows and outflows.
Banking apps no longer represent a niche service these days as the number of users is increasing to a great extent. Irrespective of whether it is about simplifying payment processor availing customer support, these apps are here to make our financial transactions easier and faster.
Rob Stephen is a senior professional of Envertis, a well-established App Development Company in Australia who likes to pen down his in-depth knowledge on the industry advancements.