Kick-off The Smartest Digital Banking Transformation
Banking app development company
78% of the U.S. population utilized bank mobile apps to perform their day-to-day task. The numbers are expected to reach 90% in the upcoming years as people rely more on their mobile devices to access their accounts rather than visiting banks in person.
Thanks to the technology, feature-rich banking mobile apps are now capable to perform 80% same tasks as physical banks. Therefore, account holder expects their banks to have a user-friendly and secure mobile app so they can perform tasks from the comfort of their homes.
Owning a full-scale bank but don’t have a banking mobile app yet?
You’ll need it because it has become necessary!
Customers consider banking mobile apps as the most prominent factor before opening an account.
Why Do You Need Mobile Banking App Development Services?
With skyrocketing demand for banking mobile apps, it has become indispensable for every bank regardless of size to create a mobile app.
On the other hand, customers consider mobile apps as one of the top factors before opening an account in a bank.
That means if your bank doesn’t have one. Your customers will choose your competitors over you.
Here’re the 5 reasons you need a banking mobile app.
80% of U.S. Residents Use Banking Apps:
80% of bank users in the U.S. used the banking mobile app to access their accounts.
People Preper Banking Apps Over Websites:
People prefer banking mobile apps over banking websites as they consider them a more convenient and secure platform.
Staggering Market Value:
Mobile banking is currently valued at $772.96 Million and will hit $1203.29 Million by 2026
Phenomenal Growth:
The Global Market for banking mobile apps is expected to grow at 11.70% from 2023 to 2030.
Safe Future:
74 percent of individuals aged 15 to 24 reported using mobile banking in the past 12 months, compared to 15 percent of those aged 65 or older.
Benefits of Banking Mobile App
Account Access Round The Clock
The banking mobile app enables customers to access their accounts from anywhere anytime. Unlike traditional banks, mobile banking can be used at any hour of the day to make a transaction.
Competitive Advantage
Building a feature-rich mobile app can give you an upper hand against your competitors.
Swift Money Transfer
Transferring money from one account to another through a banking mobile app takes seconds. Whereas, the physical banks can take days.
Higher Return On Investment (ROI)
Those Banks that invest in creating high-performing banking mobile apps see a 72% increase in income.
Additional Revenue Streams
Banks can earn more revenue when they develop a mobile app because mobile banking users spend more compared to clients who exclusively use branches.
Necessary Features in a Successful Banking Mobile App
- Registration/ User Profile
- Account Management
- Money Transfer
- Push Notifications
- ATM/Bank Branch Locator
- QR Code Scanner
- AI-powered chatbots
- Digital payments
- Voice-Enabled Banking
- Biometric Authentication
Banking App Development Process
Stage #1: Research
We start things off by gathering the initial information about the project through the meeting. The research is not just limited to the information we gain through the client. But we also conduct comprehensive competitor and market research ourselves to have complete information before heading to the designing phase.
Stage #2: Designing
We truly understand the importance of a well-crafted app interface and layout. Therefore, we dedicate a team of professional and creative UI/UX designers that work exclusively on your project. they are assigned with creating wireframes and prototypes that meet your requirements. Our team goes one step ahead of its own creativity boundary and creates something which is truly remarkable.
Stage#3: Development
Once the app’s prototype is created we set aside frontend and backend developers to start working on the solution. The backend developers are assigned to work on the server side, APIs, and business logic. On the other hand, frontend developers, mutate UI design into a functioning user side.
Stage#4: Testing
Development isn’t the last step when Quanrio is working on any project. Before deploying the app or submitting the project to the client we run rigorous testing to ensure that the app is free of bugs and errors. We implement various testing techniques and strategies before deploying the app.
Stage#5: Deployment
Once we’re assured that the app is steered clear of any bugs and errors only then we launch the app in the market.
