No wonder, smartphones are no longer a luxury item today. It has become an essential part of our daily lifestyle since Blackberry introduced Simon, the first smartphone ever. But what surprises the most is the way banking sector has transformed. Those days when we use to stand in long queues to deposit our paychecks when ATMs and direct deposits were rare are long gone. Now we have better days with mobile banking where you instantly pay off your bills, deposit paychecks, transfer funds to your family and friends with a tap. The outburst of smartphones and tablets has made us capable of carrying out these activities without having to visit a bank. The mobile banking apps have given its customers a quicker and complete access to manage their bank accounts online. Even though the banking apps offer a lot of facilities, security remains a major concern. This is why financial institutions opt for custom mobile app development to integrate extra authentication layers and safeguard its data from cyber criminals. According to Juniper Research, “Mobile banking users are expected to exceed 1.75 billion by 2019, representing 32% of the global adult population. This shows that the mobile banking technology is attracting a higher consumer demand and will change the way people do banking. Let us take a look at some important benefits that mobile banking applications offer:
Offers Convenience: Banking apps give you the ability to do most of the banking transactions on the go. Whether you want to send or receive money, check account balance and statement, or make online payments, you can control everything through the banking app. All this can happen without visiting a bank branch, ultimately making your financial life easier. Provides Instant Control: The big banks have been offering mobile banking services since 2007. They offer robust features in their apps which permit you to fully control the bank account at any point of time. For instance, PNC’s mobile banking app offers a virtual wallet to track your spending. In addition, it also offers a savings engine to help you set your savings aside automatically. Basically, you have a quick and easy access to all the financial information you require right at your fingertips. Security is no more a Problem: All the major banks and financial institutions use encryption or advanced authentication techniques that secure and protect the private and financial information as well as our identity. A few mobile banking applications provide a guarantee for securing our data while making our mobile banking experience worry-free. Saves Resources: Usage of mobile banking applications help to save some additional resources. You can save your money and time you spent in traveling to the bank branches and getting into long queues for hours. Banking apps allow you to set up recurring bill payments so you never have to worry about paying a late fee for an overdue bill. Above all, banks offer the mobile banking services at no cost. These are the biggest benefits of using a mobile banking app. Not only have these apps made banking faster but also accessible anytime anywhere. So, install a mobile banking app on your smartphone right away and take full charge of your financial life. Are you using any mobile banking application? What other benefits do you think it provides? Share your thoughts with us in the comments below. Your comment will be posted after it is approved.
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