As platforms and technology enable more and more possibilities for businesses, taking advantage of financial software capabilities can help you move into new avenues for increased revenue and business growth. As a financial service provider, generating a customized mobile banking app for your customers allows you to deliver a service that completely represents your business and brands and keeps your revenue in house.
Many banking companies have capitalized on this already, with $1.8 billion expected to flow within the global banking market by 2026. Whether you want to help your customers manage their finances, perform all their banking on their phone or make secure transactions, your own mobile app helps you deliver this outcome effectively and directly.
Features of mobile banking apps
Foomotion app developers can develops high-quality custom mobile banking apps that have every feature you can imagine your customers needing – from creating a monthly budget at the touch of a button to creating shared accounts with other users.
So let’s explore some of the most innovative features you can expect in your mobile banking apps:
- Pin-code enabled application use
- Basic mobile banking functions:
- Deposit and withdraw into accounts
- Make payments to others directly
- One-click payments integrated with Google Pay and Apple Pay
- Transfer funds between accounts instantly
- Loan management
- Transaction history and account activity tracking
- Statements and report viewing
- Create and manage different financial accounts to promote saving
- Account summaries and spending insights
- Gals and target enabled features to help users budget
- Create shared tabs with other users so expenses can be sent to others instantly
- Easy customers onboarding through the banking app
- High-standard security and fraud alerts
How much does a custom mobile banking app cost to build?
Like most things, the cost of building your mobile banking app depends on how advanced you want the features and design, as more features and complex design will take more developing time. Also, if you plan to launch the app on multiple platforms, prices will increase again due to the cost and time of priming the software for these channels.
Assuming you’re seeking a fairly standard app in terms of features, customized to your business, you can expect to pay anywhere from $25,000 – $100,000. Due to our close network of professionals and developers, Foomotion are able to offer custom mobile app development at a much lower rate, typically around $10,000 to $50,000.
Want to find out more about developing your own mobile banking app or ready to get started? Contact us today.