Today everything is mobile – including your finances. In fact, 25 percent of the top global banks already offer their customers access to a mobile banking app. If you haven’t yet joined this party, don’t worry, it’s not too late!
It’s estimated that in a year’s time (by 2019), over 1.75 billion people will use their smartphones for banking. If you don’t have a mobile app yet, then now is the time to have one developed.
After all, you realize the importance of growing your business and introducing new solutions with the help of companies such as Copper River Group Bank Technology Consulting, and having an app is just as important.
If you are ready to introduce this option and help your customers have a better experience with your bank, then use the app development tips found here.
- Know Your Target Audience
Do you know who your end customer is? Chances are you have the same answer of every other bank out there. You may think that Gen Zs and millennials are the only ones who are interested in using a mobile app, but that’s not the case. There are many other classes of customers you need to serve with your mobile app, as well.
For example, 45 percent of seniors and Baby Boomers are actively using online and mobile banking. This means your target audience is likely much bigger than you think.
- Make Sure Security is a Top Priority
This isn’t a factor that should be too surprising. With all of the recent cases of stolen credit card information and data breaches, most people are extremely concerned about the security risks that are present in modern mobile apps. When creating your banking app, you have to keep security top of mind.
To ensure your app is secure, you need to take some time to do the following:
- Review the current security policies you have in place
- Configure your application servers
- Integrate the most recent digital signature technologies
- Install an encryption program for storage cards
- Make sure there’s a built-in strength checker for passwords
When creating a mobile banking app, you should make a top priority to educated your customers about the potential security risks and what they need to do to protect themselves and their personal information.
- Keep Things Simple and Fast
Did you know there is something that can alienate your users even more than potential security risks? It’s true.
If your mobile banking app is complicated or if it runs slow, then customers are going to avoid it. Some of the features that make a slow and complicated banking app (that you should avoid) include:
- Too many functions being offered all at once
- Poor mobile logins
- No search feature or historic data feature
- Unintuitive or clunky in-app UI
- No real design
The fact is, up to 86 percent of people who use mobile apps only want two things – the ability to receive or transfer funds in between their accounts and the ability to check their balance.
It really is that simple.
There’s no reason for you to try and copy your entire online interface into your mobile app. Just trying to do this could cost you a small fortune to get it right and ensure it is secure. When creating a mobile app for banking remember K.I.S.S. – Keep It Simple Stupid.
By now, you should have a mobile app for your bank. However, if you don’t, there’s still time. When developing the mobile banking app, be sure to keep the information here in mind to create something that your users will love.
