The Dynamics of Mobile apps For Finance Industry and Customers

The Dynamics of Mobile apps For Finance Industry and Customers

Smart phones and mobile apps have re-conceptualized our lifestyle in the past few years. All that was considered brisk few years ago appears sluggish today. Internet was not new to us when smartphones made a foray into our content lives only to redefine speed and luxury. Mobile applications have made our life even swifter and that's why every industry or had to associate itself to mobile apps to connect well with the customers. Finance industry cannot keep itself disassociated from mobile applications either. Today our life is dictated by iPhone, Android phones, tablets & handheld devices and these gizmos have changed our life for better, of course. But...

How Finance Mobile Apps can Help Manage Financial Affairs?

One thing that has remained unchanged however, is our careful approach towards money matters. Financial matters always top our priority list and mobile apps did not gloss over this facet of life either. That's why retail and brokerage firms have harnessed the app platform quite effectively to provide their customers apps that allow them to keep themselves upto the minute about upcoming events, check their portfolio holdings on the go and also process transactions. Mobile apps for finance render real time data, information about lenders, investment houses, loyalty programs and precise estimation of your finances.

Advantages of Financial Mobile Apps to Finance Industry & Users-

  • Time effective:By using a financial mobile app, consumers can check their account balance on the move while walking or even commuting. Financial activities such as opening a new account, money transfer and scheduling payments are a click away with mobile apps for finance. This has reduced the need to go to bank hence it’s time effective.
  • Easy to Operate and Cost Effective:Using banking and finance mobile apps are no rocket science even to a layman. Consumers do not have to pay extra money to use them as they are available for download absolutely free of cost. Customers also save money they would have spent if they were to visit the branch.
  • Apps are Secure to Use:The myth that mobile apps for finance are not secure has got busted over the years. Nowadays many financial institutions provide security codes for safe transactions. Customers are also informed via texts as soon as any transaction is made via a finance app. Any account activity such as money withdrawal and deposit is notified to the customers via texts.
  • Advantages of Finance Mobile apps to Financial Institutions:Financial mobile apps offer benefits galore, not only to customers but financial institutions as well. They no longer have to spend more on customer care or tele banking. Consumers can process most of the transactions themselves in a jiffy. This has also resulted in increased staff productivity and customer satisfaction. Identifying target customer base also becomes handy via features these apps offer.
  • Mobile banking VS internet banking:We started off discussing about this bit, right? The arrivals of mobile apps have made transactions faster. Mobile apps just require a smartphone while internet banking requires a machine with internet connection. Nowadays WI-Fi is available almost everywhere which has made financial transactions even faster.

Why Hire a Mobile app developer after interviewing?

A study shows that customers search for the app of the bank or financial institution they have a relationship with. The absence of a banking or finance app can cause them to switch to another bank which is a big loss for those financial institutions. So, you must plan for Financial mobile app development from a reputed Financial mobile app development company, however choose to hire app developer after interviewing. One of the major reasons to ask you to interview a mobile app developer prior to hiring is just to know about the expertise and skill-set they possess. If you have any queries regarding mobile app development including iPhone, iPad or Android app development. Feel free to CONTACT US and we will resolve them. Have a Great Weekend!