Today’s technology is so advance that you can conduct banking transactions through your mobile. This is one advantage that both community and national banks are trying to leverage. Since almost everyone in the world utilizes various mobile applications, it makes a big difference if a bank is able to offer this kind of service to their customers. It is important that the following features are available through mobile banking:
Security: Every bank implementing mobile banking should have this feature on their mobile banking application. These days, it is not uncommon for people to be very particular about their security when it comes to financial matters and this is because fraud is one of the fastest-growing crimes across the globe. With this in mind, people are more readily inclined to do business with banks that can ensure their financial security. Not to mention that there are also hackers out there who threatens to get people’s personal information so they could have access to their credit cards and use them fraudulently. What is important is that the application should have the standard security platform and authentication system. It should also have the 128 bit SSL encryption while the application is being utilized.
Fund Transfer: This is another feature which a mobile banking application should have. Being able to transfer money between banks conveniently and securely is a characteristic that most customers are looking for. Most people do not have the habit in making transactions at their local bank and having the capability to conduct fund transfer through their mobile between other banks will be advantageous to them.
Mobile Deposit: This feature gives the customers the opportunity to be able to use their smart phones to deposit checks. The only things they need to do is taking a photo of their check and submit it to their bank for processing through the mobile banking application. Furthermore, this makes a customer’s life easier since they can conveniently transfer and deposit money whenever they need to without having to go to a bank physically. However, if a bank utilizes such a feature, it is paramount that they also include a risk management system to protect the customer from duplication or fraud.
User-Friendly: People these days are exposed to multitudes of applications and it has become second-nature to them to navigate an application. With this in mind, it is important that the graphical user interface is user-friendly. You may have a unique interface for your mobile banking application but if the consumers are having difficulty navigating through it, then it will not be that helpful to them. It is important that the interface has large buttons and is easy to scroll down as well as a full-screen menu. And avoid texting commands because customers these days are more inclined in interacting with their applications through the use of their hands and fingers.
Thanks to man’s limitless innovation, he is able to develop mobile banking application which makes a big difference with regard to a customer’s financial concerns.