It’s time to choose the features you want to include in your mobile banking app once you’ve decided on your business plan. This collection of features will help your engaged android app development services determine the cost of developing a mobile banking app.
1. Personal Accounts and Onboarding
Your user experience may be made or broken by your app onboarding process. When creating an onboarding experience for your mobile banking app, you should consider various things.
2. Safe Authentication
For mobile banking apps, the most important factor is security. As a result, the registration and sign-in processes should be simple and secure. Allow users to log in with both a password and a fingerprint. Fingerprint authentication is a must-have feature for current apps since it is safe and secure. To safeguard your customers’ safety, require fingerprint or SMS verification for each incoming session.
You must create a high level of security online, just as you must with traditional banking services. This is the only way to create a lucrative startup.
3. Payments using QR Codes
A banking application’s and fintech products’ main feature is the ability to make payments. As a result, this feature should be given a lot of attention.
An important feature of mobile banking apps that will require access to a mobile phone’s camera is payment through a QR code. To incorporate these features flawlessly, it’s best to create a native mobile application. Using a cross-platform mobile app, you can’t obtain full access to the device’s functionalities.
4. Notifications through Push
Push notifications are one of the most crucial features an app should have, and we can’t picture a banking app without them.
5. Managing Transactions
Your clients may view all their credit and debit transactions on the transaction screen. It gives customers access to their transaction history, which they may use for various purposes. As a result, it should be highly organized and straightforward.
6. Recurring Payments
Many people use mobile banking applications to pay for health insurance, insurance installments, and power.
To set your app apart from the competition, include features that make it easier for users to complete tasks. Repeat payments are one of these features. Your app should either automatically debit a certain amount from a user’s bank account or send alerts to users reminding them that a payment is due.
7. Customer Support
Customer service is an important aspect that will enhance your users’ experience. Your support team can provide customer service via a messenger or a toll-free phone number or by a support chatbot that responds to user inquiries around the clock.
Creating a chatbot needs a different procedure and may appear challenging at first since you must anticipate what questions your users may ask; it will deliver beneficial outcomes. Hire android app developers who can work up to every such challenge. Additionally, you will be able to respond to consumer inquiries 24 hours a day, seven days a week, while reducing support costs.
8. Expense Tracker
Money is vital to everyone, and consumers want to keep track of their spending from time to time. As a result, it’s one of your mobile banking app’s most important features.
9. ATM and Branches Locations
Using this easy function, you may show that you care about your clients. Maps may be used in your mobile app to show the locations of ATMs and bank branches. Google maps are available for Android apps, while either Google or Apple maps are available for iOS apps.
10. Investing and Trading
In the fintech industry, investing and trading are growing increasingly popular. Allowing clients to use your app may improve the user experience and provide customers with more reasons to choose you over rival institutions.
11. Bill Splitting
Many people find the never-ending challenge of dividing bills after spending on regular items stressful. Solving this problem for your consumers will provide you with a competitive advantage over other banks and give them another incentive to choose your company over others.
12. Refunds & Cashbacks
Who doesn’t enjoy receiving rewards? Adding cashback as an incentive for your consumers will encourage them to use the app more frequently. Why not entice them with cashback and generate extra money from merchants by allowing them to pay via your mobile app?
Final Words
Deploy a mobile app development company where you may select expert developers from a gigantic talent pool and have your app developed according to international coding standards. While we cannot supply you with a precise price without examining your app idea, we can give you a general range.
For example, if you engage AppStudio’s mobile app developers, we’ll execute your project to the highest industry standards at the most competitive price.