Banking apps provide customers with a convenient way to stay up-to-date on their accounts while they’re on the go. Not only can these applications save money and earn cash back, they can also budget effectively, boost financial security and even check credit score depending on what services your bank provides.
When creating a banking app, it is essential to comprehend your target audience and the features they require in order to simplify their lives. With this knowledge, you can determine the ideal mobile banking functions to include in your application and optimize them for users’ comfort levels.
Double-Factor Authentication to Safeguard Your Users’ Data
Ensuring a secure sign-in process for your app is one of the first things you should ensure is implemented. One way of accomplishing this is through two-factor authentication, which requires users to enter both their username and password as well as generate a security code from a mobile device. This helps prevent unauthorized access to accounts and increases user satisfaction by giving them more assurance when using your banking app.
Another way to enhance the safety of your banking app is through biometric verification technology. Many banks offer this feature, which can be used for identity confirmation by checking a user’s typing speed, voice pattern and even physical gestures.
Pay Bills Anytime, Anywhere
Many people prefer using an online bank or credit union’s mobile banking app for payments. Doing so saves them time from having to physically drive to a branch or credit union to deposit checks. Plus, they get the advantage of receiving digital statements and being able to view their account balance anytime from any device.
The banking app should also enable users to pay bills with debit or credit cards and set up recurring payments that can be linked to their savings account. This way, they can pay for items that require a specific amount – like utility bills – and have the funds automatically deducted from their account when due.
Recurring Payments are an excellent way to guarantee your customer’s bills get paid on time, and can help boost retention rates by keeping them loyal. This is especially crucial for customers with fixed-term loans such as mortgages or auto loans with installments that must be paid back over time.
Your app also enables you to set up and manage automatic payments, which can be scheduled for any day of the week or month with the option to pause them when desired. This is an excellent way for them to stay on top of their finances while on-the-go while decreasing stress levels as well.
Add an ATM Locator to Your Banking App
A good banking app should include an ATM locator feature, which helps customers locate ATMs nearby and prevent running out of cash while on-the-go.