Top Features of Android-Based Mobile Banking App to Integrate in 2022

Technological breakthroughs played a vital role in reshaping the banking & finance industry. This led several banks to leverage the power of mobile banking apps to grow their reach of services to a broad customer group. And the rise of smartphones further gave mobile banking apps a huge boost.

Mobile banking apps provide amazing convenience to users by enabling them to access crucial banking details on their smartphones. With mobile banking apps, the customers can smoothly make transactions, check account history, and track daily expenses.

After looking at the benefits of a mobile banking app, it is the time to build one for yourself. If you are a financial service provider planning to digitize business by implementing a mobile app, then create cutting-edge banking app.

But before you start with the banking application development services, you need to check out this post. In this blog post, we will discuss with you in detail the features of a mobile banking app. So, let’s discuss in detail for proper understanding.

1. Easy Customer Onboarding

Gone are the days when a customer likes to reach a branch to perform any sort of transaction. That is why leading banks today offer faster onboarding features in their banking app, which makes users banking journey streamlined.

Now the customers can open their account in just a few minutes with the use of a mobile banking app. They need to provide their details and upload valid ID proof to open account. So, this is how a mobile banking app makes the onboarding process streamlined.

2. Peer-to-peer Payments

Peer-to-peer payments, facilitate customers to transfer funds straight from their account to other account. This process assures the user that money is transferred safely, securely, and instantly. The mobile banking app needs the user’s ID number, and the bank transfer of funds.

Apart from this, it is highly suggested to opt for peer-to-peer payments using mobile banking app because most banks don’t charge a fee for the transfers. 

3. Voice Command to Pay Bills

Voice payment is the future of the banking & e-commerce sector. As per reports, the voice payments adoption rate will increase from 21% in 2021 to 35% by the year 2022. Make sure you ask Android App Development India to adopt voice-based transaction feature in your banking app.

Voice-based payments became quite successful amongst the global audience in a short time period. Using mobile banking apps, the customer can now ask smart speakers to pay their bills. Thus, a voice-based feature will boost brand’s overall value and build huge success for the mobile banking services.

4. Advanced Security

Mobiles banking apps assure advanced safety and security for all transactions. Cybersecurity and multi-layer encryption are important for these apps. People using mobile banking have access to different security levels to login and transact on the app. They have a PIN, two-way authentication, biometrics, and many more security features. Moreover, mobile apps use encryption to safeguard user data from possible hacks.

5. Convenience and Accessibility

Mobile banking apps are designed to be comfortable for users. They enable banking from anywhere, at any point of time. Customer time is saved as no need to visit a bank branch or wait in the queues. The apps are accessible 24*7. This makes mobile banking attractive and reliable. Some banking apps may use real-time notifications and geolocations to provide further details and guidance.

Conclusion

To conclude, we can say that today’s world is changing at a fast pace, and so are customer requirements. What was once considered a luxury has become crucial for banking services as well? In this article, we have shown you important features of a well-designed mobile banking app that can thrive your business towards success.

If you are looking to make a secure and engaging mobile banking app, then hire mobile app developer from a reputed development agency. Developer will help to determine the best strategy for app development and provide in-depth guidance on all banking features.