More and more banks want to know how to create a banking app. And that’s reasonable. Banking institutions are quite busy with their operations. However, they quickly started to realize that they should either learn how to create a mobile banking app or hire somebody to create a banking app on their behalf.

Let’s start with statistics

According to Citi bank, 91% of users prefer using a mobile app instead of visiting a branch. And it’s normal. It makes total sense to create mobile banking applications these days since more than 2 billion people are using online banking.

Banking App

And rightfully so. Mobile banking allows you to check your available balance in real-time, freeze stolen cards, transfer money, and do many other things in no time.

How to Create a Mobile Banking App in a Few Steps?

Okay, it got interesting. If you don’t want to hire an offshore company to create a banking application in Android or iOS for your bank, then you will need to know how long does it take to build a banking app and how to do it. Let’s start.

Start with the Basic Functionalities

If you’re building a custom-made app, your customers expect it to be developed by experts. They’ve grown to expect a lot from newer apps, but there are some basic features they won’t compromise on. If your app doesn’t have them, the user may leave your app in search of one that does.

Tip 1: Balance and Transactions

A central focus of a mobile app is to provide users with a simple and quick way to review their transaction history. A convenient, at-a-glance view will let them see their balance and quickly identify purchases, deposits, and withdrawals.

Tip 2: Simplify Payments

Mobile payments are one of the most important banking and consumer finance trends. They allow customers to make purchases from anywhere, at any time, providing convenience, added security, and a seamless overall experience.

Good consumer-facing apps should be able to integrate with as many service providers as possible, giving shoppers the freedom to manage their everyday expenses. They should also be able to transfer money to friends and family, pay off loans or mortgages, and even purchase just about anything else they need.

Tip 3: Push Notifications

When a consumer doesn’t like to miss notifications, it’s for a reason. They’re essential reminders about their account or sales that they don’t want to miss out on. Banks can capitalize on this desire by offering in-app messaging to help with account management and automations that are related to past purchases.

Tip 4: Manage Bank Cards

Customers should be able to freeze, unfreeze, block and unblock any credit or debit card in  bank accounts, as well as assign cards to different accounts. Customers should be able to set limits on transactions and have the ability to change the PIN number on their cards. In addition, they should be able to order new cards with less time and effort than ever before.

Advanced Functionalities

Let’s also see some sound additions that are still worth your attention.

Tip 5: Expense Tracking

On the one hand, some of the most popular apps use a card system to help track spending. These kinds of services might not be necessary for users who are just looking for a new way to the bank. Still, they might be quite a kicker against other online banking apps.

Tip 6: Access other Bank Services

Many banks have put their full range of products within a mobile application, so customers can access the features and services that are most important to them right at their fingertips. At the same time, consumers can request a loan in only a few minutes instead of being shuttled off to a third party or even to another location.

Summary

Knowing how to create a mobile banking app that doesn’t cost an arm and a leg is hard. It would be best if you remembered to keep the balance between project costs and necessary tools. This is why it is best to start with the must-have bank app attributes and then move on to advanced tools if you have an extra budget.