No doubt, building an app is an uphill task for any industry. But banking app development is even more challenging than any other niche you have ever heard of. You need to brainstorm a lot of features. From cybersecurity to user authentication and online payment gateways to UI/UX elements, the list of features is long. You couldn’t afford to miss even one.
Having every useful feature aboard helps to make your app functional and competitive. There are a few must-have banking app features that set your banking business on a path to earn a record-breaking business. Some of them are listed below:
1. Advanced Secure Sign-In Feature
Building your banking app comes with a lot of security features that must be immune to any security breach. It’s where you could put user authentication feature to use to safeguard users’ interests. Thinking of typical SMS-based authentication feature? Well, trash it aside for a while as it might be annoying to some users. Instead, you could use more advanced authentication features for your banking app development such as recognizing a user by his voice or retina scanning.
2. Enhanced Features That Make Banking Easier
While all banking apps have those basic bank account features, but a few banks go extra miles to add some really useful features to help users bank on the go.
For instance, ABN AMRO, the leading bank in the Netherlands, lists out some advanced features alongside the basic ones in the user bank accounts. They noticed that after adding great features such as set a savings goal, make an investment, make repeat payments, etc. gives users a way to get done more using an app without logging into the web application.
You could go in their footsteps to build a banking app that really hit the growth milestones.
3. Intelligent Chatbots for Offering Best-In-Class Customer Support
Though the technology to deploy chatbots isn’t new but only a handful of banking apps are using it. It’s where you could take that significant leap to get traction online while setting new standards in the industry. AI-enabled chatbots can easily handle your customer service without letting your users know about it. Built using artificial intelligence technology, they work and act like a smart human that you could utilize to offer 24/7 chat assistance to your customers.
4. Apps for Wearable TechUsers have a very limited time to log into their mobile apps. They like everything on the go! But what if you could send notifications or send alerts and manage money through smartwatches that are tied on their hands? Sounds like a great idea? In fact, a few leading banks are already using it. Australian Bank of Melbourne is one of them and you could be the next to disrupt the industry while offering the convenience of banking to your users.
5. Features to Share Finance With Friends in Loop
If your banking app is targeting millennials, you should rather offer them ease of paying bills. By splitting the bill into several halves, you could let them contribute to an outstanding bill. Bill-splitting functionality lets them share the load of the bill while fulfilling their interests.
Some of the leading banks are already using bill-splitting functionality to make banking easier for the young generation. Take Emirates NBD as an example that lets this convenient feature work for millennials. A user just has to input the sum of the bill and mention the number of people he wants to share the bill with. This feature works great for the Emirates NBD and could work great for you too if you provide it in your mobile app.
The Key Takeaway
The banking industry is highly competitive! You need to come up with trending features that could actually make banking easier for users. Staying on the top of features is the only way to survive in the banking industry and the tips mentioned here would pave the way out for your success. Having smart features in your app directly impact your success story, help you gain customers and get appreciation from clients that you always want to have.
Looking for contemporary banking app development with all great features aboard to count your presence in the market? At iApp Technologies, we could help you build a world-class banking mobile app. With insight into the banking industry and rich working experience with conglomerates in the niche, we know what works the best in the banking business. Consult us if you need any assistance with banking mobile app development.