The advantage of having a bank app on your smartphone is that it can be used around the clock. Now, to deposit a personal account or pay utility bills, you don’t have to choose a day, go to the bank and stand in line. If the developers do not make a mistake with the code, there will be no time restrictions on access to the bank customer account. But you can’t do without setting a limit on transactions. A well-designed application allows the client to set this limit himself, which increases the reputation of the bank and the trust of the potential audience.
Mobile banking should provide the following features:
- receiving passport data and information about the registered personal account;
- generation of account statements;
- transaction history;
- notification of expenditures and accrual of new funds;
- fast transfer of funds;
- online payment for goods and services;
- application for connection of the service;
- help in technical support;
- searching for the nearest ATM or office of the organization;
- check cards, accounts;
- currency exchange.
This is a classic set of features that must be present in a well-designed mobile banking application. Some programs even allow you to open or close a card from the comfort of your home. This feature can also be added to the app. All details, structure and concept are agreed upon with the customer beforehand. All a potential user needs to do is to install the utility on a smartphone, create an account, enter biometrics, come up with a strong password and log in to be able to conduct financial transactions and receive notifications of all accruals/charges.
Developers can program the application to automatically update by default, or allow the customer to choose and update the application manually as needed. This aspect depends on the customer’s wishes and expected functionality. It is recommended to request the automatic update setting. In this case the application will immediately receive new features from the developers and eliminate bugs and improve user security.