One of the main directions in the modern banking and financial business is, of course, mobility. Today, a bank can work without an office, but it must have a progressive application where you can access personal data so that users, regardless of their location, can perform various financial transactions.
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Mobile banking app features
Custom mobile banking apps should offer their users the following main features:
- Pay bills, internet, utilities, mobile communications, loans and possible fines;
- Make money transfers;
- Check account balance and transaction history.
What are the main features that should be included in an online banking application before being developed? Mobile banking applications have gained widespread popularity and continue to gain a competitive advantage because these applications provide a wide range of functions and operations.
- Peer-to-Peer system. This feature allows you to send money from your account to someone else’s bank account or card. And now you don’t need to go to a bank branch or look for a terminal to do this.
- Counting funds and savings. This is a great option for users who only use cards and bank accounts to pay for whatever they buy without using cash. The above function allows you to track expenses and current balance to keep track of your monthly budget.
- Security. This does not only involve entering the general password for your account in the banking application. Basically, you can use Touch-ID or Face-ID instead of having to enter your password every time you sign in. This brings simplicity and higher security.
- Push notifications. This is a great option that provides a great customer experience. Depending on the location of the customer, the banking application may show special offers in this location – discounts on food and drinks, various coupons for the purchase of something.
This stage includes collecting ideas and clarifying the details of the project. To create a successful product, you must start with careful planning: Target market research; Determination of key nuances; Generating ideas on how to eliminate possible problems; Best Practices Review; Definition with the exact functions of your future application; Choosing the operating system that will support your application (iOS and Android application development), programming language and development tools.
UI / UX Design
Designers start working before developers because it is important to look at an application before you start coding it. The design team works in accordance with the list of tasks compiled on the basis of the conducted research. They develop UI, UX design and layouts.
The next task is to launch the completed project. Development programmers perform two parts of the development process: frontend and backend. Most IT companies adhere to an agile software development methodology. This process is iterative and linked to continuous testing to help identify and fix bugs early.
This is one of the important stages of application development. Once the product is complete, it undergoes final testing to ensure that all components work seamlessly.
Marketing and implementation
At this point, your creation will be presented to the world, that is, to the end users. Advertising and active marketing should be started even before the official release date is announced. This will attract more users and potential customers, and as a result, you will receive enough feedback from them. You can involve popular journalists and bloggers with a marketing campaign, you can use search ads and email, and social media, of course. The cost of this step is difficult to estimate. However, marketing should be a must in your budget.
The banking application is a powerful tool for building customer loyalty. You should choose a reliable IT company (have a look here https://fireart.studio/banking-financial-software-development/) to carefully plan and execute your banking application development.
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