Common characteristic of leading digital banking apps

The only reason banks are at the top of the market is because their banking mobile apps are beautifully designed and incredibly user-friendly. It is now practically outdated to think of going into a bank to address specific needs like depositing checks, moving money, checking balances, etc.

This article from SMARTOSC Fintech will outline the common characteristics of the top digital banking apps.

Bank Account Management

Utilizing a mobile banking app is intended solely for managing bank account information remotely from a mobile device. Even while banks should always include the necessities, they can still use creativity when creating the digital banking apps.

Users may keep track of their credit cards and bank accounts, check balances, view transaction histories, and transfer money at any time, anywhere by using features that allow for bank account administration.

Goal settings can be included to enable customers to work toward a savings goal directly from the source of all of their financial data. With this function, customers may specify how much money they want to save and when they want to save it.

Advanced Security & Fraud Alerts

Banks must first make sure that the app has the secure sign-in capability if they want to have successful digital banking apps. Without adding too many steps that can annoy customers, the banks want to ensure that there are precise processes needed to sign in to a user’s online banking account.

There is a fine line between being careful and being paranoid. Good digital banking apps make sure that signing in is quick, simple, and safe, giving the user peace of mind.

On the other hand, biometric authentication technology uses bodily measurements to confirm users. This cutting-edge technology can distinguish between a person’s typing rhythm, voice, and even bodily gestures. Also, fingerprint and FaceID additions are further choices.

QR Code Payments

A back-end technology called CORE banking, or centralized online real-time exchange banking, quickly processes transactions and posts changes. Modern banking software has made a variety of services accessible through various digital platforms.

Retail banking, wholesale banking, or securities trading can all be supported by CORE banking software. Several of the features of service-oriented CORE digital banking apps include the following:

• Enrolment for new accounts and administration of current accounts
• Transfers and deposits
• Managing loans
• Calculating interest rates
• Management of customer relationships (CRM)
• Disclosure of new financial products
• Recording preservation

Mobile Check Deposits

For those who still bank in an old-fashioned manner, this function could seem like something out of a science fiction novel. Customers all across the world, however, are growing more and more accustomed to utilizing it.

Time is saved, which is the most evident advantage. Users don’t need to drive to the credit union or digital banking apps and wait in line for a teller to become available in order to deposit a check.

Endorsing the cheque and taking front and rear pictures on the banking app only takes a few seconds. The deposit information is sent to the account, and the money is often available the following day.

Customers can perform all of these tasks, as well as a lot more, using digital banking apps on their smartphones. There isn’t anything more practical than that! Please get in contact with SMARTOSC Fintech if you want extra information.