We live in a world where everything (or almost everything) lies within smart devices like phones or tablets. Most large banks are in this trend and have already provided users with applications designed for banking as well as other financial purposes.
48% of US smartphone owners were using banking apps I 2012 and that number grew up to 54% by 2013 and the tendency remains same as for now. More than a half of smartphone owners are using banking applications and solutions and that is a lot of people and I may even say quite more than a half of all your customers.
Approximately 95% of those people are using such apps to check through account balance or to make sure all went well in some recent transactions. Nearly 60%of them use apps for money transfer and 40% are using banking apps to deposit checks.
How does one keep up with this challenge?
As you can see people are trusting mobile banking solutions with lots of personal data and even access to money and savings. Surely development of such vital applications should not be mistreated. Here are several great advice you should keep in mind when considering developing a banking app.
- Nearshore partners may be the best fitting solution. Nearshore outsourcing partners usually share the same vision of the banking industry and are equipped with appropriate tool sets and teams are already experienced in delivering these kinds of solutions hence such projects are usually outsourced to European-based organizations rather than the ones in Asia.
- It’s not all about banking. Most banking apps share a common weakness: they are boring and are not allowing users with much more than simple banking operations hence are simply services which does not cause a very good effect on their revenue. Experienced developers usually take greatest achievements from applications designed for other industries and are implementing them inside a great banking app design. This is truly a remarkable solution for greater marketing and advertisement possibilities as well as branding.
- Security should amongst you top priorities. People are trusting you with their money. And people are mostly not using banking apps due security concerns. However if security considerations are being input from the first steps of the project you are more likely to end up with a decent and satisfying solution.