When it comes to your favorite menu, saving money, calling a taxi, or any other daily activity on the Internet, what device would you think of to do all these steps?
It’s your smartphone, right? And so does each of us.
A cellular device has become a real friend for us and is now the most simplified solution to everyday tasks. It will not be wrong to say that mobile technology is advancing at the speed of light.
Applications are evolving and present in every area. And now, keeping abreast of the latest trends in mobile banking app development has become more necessary than just a popular choice.
Recent studies have shown that 19% of commercial sales are made via smartphones or tablets. Analysts say this trend will continue as more consumers start using M-commerce services.
Transferring money or buying goods using a mobile phone is becoming as commonplace as using a credit or debit card. This means that developers can create mobile applications that can process transactions without the use of cash or any physical cards.
Other types of applications, specific to the financial sector, help to improve the productivity of the company, increase the level of security, and improve and automate the workflow.
Next, we will discuss the 5 main trends in the mobile banking app development and web applications for the financial.
Using cloud services
Cloud services allow you to run processes over the Internet without having to download and install software.
Why are they so useful and widely used? There are several reasons.
They eliminate the need to own dedicated software and hardware, increase the flexibility and speed of the workflow, simplify the automation of business processes. This allows companies to simplify, save time, money, human and other resources, as well as increase system reliability in the event of errors and violations. providing easy system recovery.
- The need for ever higher levels of security
Fifty years ago, weapons, masks and brutal methods were needed to rob a bank. Today, criminals do this quietly and unnoticed, in their apartment using their laptop. It is unwise to discuss and compare these two “methods”.
However, it must be stated that along with the constantly progressing and developing field of information technology in mobile banking app development , the likelihood of cyber attacks also increases, therefore, banks are constantly exposed to the risk of hacking, so they need to constantly improve their levels of digital security.
As a result, financial companies actively invest in their protection through the use of reliable and proven technologies that ensure the safety of their finances and customer data.
- Advanced analytics
Just like cloud services, analytical software is used in many areas, including banking and finance.
The difference between advanced and traditional analytics lies in the ability of advanced analytics to make predictions and predict outcomes and events based on the available data.
Thus, advanced analytics allows you to collect and process big data, optimize operations and simplify the decision-making process.
- Services for clients
As stated above, information technology also brings many benefits to both individuals and companies. Mobile banking is especially popular as mobile technology has become an integral part of our lives.
Over the past few years, we have become accustomed to getting quick access to the mobile services we need, including banking.
Mobile banking improves customer experience, simplifies payments and transactions, and saves time. most banks have their own mobile applications for their customers. More information can be found on this page.
- Internet of things and biometrics
As strange as it may seem, the Internet of Things is changing not only the sphere of construction, healthcare, education, but also the banking and financial sphere.
Installing sensors in bank rooms improve the process of collecting client information, analyzing it and processing statistics.
Beacons will help you with your marketing and advertising campaigns, as well as facilitate the navigation of visitors and employees in buildings.