How to choose a mobile app with best digital banking services in 2023?
Digital banking services have given a huge boost to the efficiency with which an account holder banks today. Online banking ensures that you can access your bank account regardless of time and location. Because of their accessibility, banks have started to create and manage banking apps to retain their existing account holders and attract new ones. However, before signing up for a banking app, you should check some features. Listed below are some features that a current banking app should have:
- Read the reviews
One of the things you can do before installing an internet banking app is to look up customer reviews. To check the reviews, you can search for the banking app on the app store and go through all the reviews before downloading it. Apart from the quality of the app, customer reviews will also inform you of the numerous features and facilities offered by the banking app.
- Make sure the app helps with account management
The major benefit of digital banking services is that they can help you manage your bank account just through your mobile device. With the help of internet banking, you can check your credit card details, and account balance. Moreover, with the help of mobile banking services, you can even complete an online fund transfer regardless of time. Apart from that, ideally, an internet banking app should also enable you to check the forthcoming expenditures and cancel them if necessary. For instance, IDFC FIRST Bank’s mobile banking app has the “view and manage upcoming expenses” facility, which helps you manage your payments.
- Check if the app provides a chatbot
Banks should prioritise providing an excellent consumer banking service to their account holders. The smart AI chatbot feature in an internet banking app ensures that you could access your bank 24/7. Chatbots can be very useful in resolving simple customer inquiries.
- Learn about its QR technology
The QR (Quick Response) technology enables you to pay for purchases contact-free. QR code scanners on digital banking apps can help you in paying directly from your bank account in real time. Very convenient to use, a QR code scanner ensures that time isn’t wasted on counting the cash in your wallet while shopping.
- Focus on the app’s security features
Before downloading a mobile banking app, it is essential to first learn about its security features. A banking app’s security involves protecting your financial transactions and funds in the account from phishing threats and trojans. The best internet banking apps protect your account using security features such as end-to-end encryption and alerts.
- Check if it has auto-pay
This facility ensures that recurring payments are made automatically, without requiring you to remember the payment date. To access this facility, you need to add a standing instruction on the app. On the standing instruction, you will need to enter the details of the payee and specify the preferred date on which your account should be deducted. This facility makes sure that you don’t miss out on bill payments.
Digital banking apps are known for simplifying a wide range of banking services and functionalities. Therefore, check the features of a bank’s internet banking services before signing up for it. With the right mobile banking service, you can manage your finances efficiently.
Reference links
https://whatfix.com/blog/digital-banking-platforms/
https://relevant.software/blog/10-steps-creating-mobile-banking-app/
https://www.netguru.com/blog/mobile-banking-app-features
https://scand.com/company/blog/10-must-have-features-for-a-successful-banking-app/
