Mobile applications have emerged as a game-changer in banking, redefining how people manage their finances. With the rise of the popularity of smartphones and the rise of mobile applications, customers now have the possibility to conduct a wide range of banking activities from the palm of their hand, which makes banking services more accessible and convenient.

To be competitive, banks must continually ensure that their banking applications meet all their customers’ expectations, which requires constant development.

Mobile banking app development – A necessity, not a luxury

The convenience and accessibility of mobile banking have become key drivers for attracting and retaining customers. As a result, mobile banking application development has become a strategic imperative for financial institutions since it offers numerous possibilities and become the most common digital channel. So, what does the preparation process to create a desirable mobile banking app look like?

The key to success – A good starting point

The process of developing a mobile banking application should not be ignored. It demands spending an appropriate amount of time on in-depth market research and analyzing the needs of your target group. Regardless of whether you want to build a banking app from scratch or revamp and maintain your current app, the first part of the process includes:

  • understanding user needs,
  • doing analysis including market research,
  • gathering requirements, and
  • determining a purpose for further improvements.

All of the above elements lead to the clarification of the product vision and to…

The next stage – Detailed planning

The planning process is an extension of the previous phase. With the list mentioned earlier, it is easier to move on to the following stages, which include specifying:

  • Essential features such as account management, fund transfer, bill payments, mobile wallet integration, push notifications, loan applications, etc.
  • Additional features like personalized financial insights, a virtual financial advisor, augmented reality features, gamification, integration with smart devices, digital onboarding, and more.
  • Last but not least, making a rough cost estimation, which involves assessing costs for design, development, testing, and maintenance, is essential to start such a big project as a new mobile banking app or a makeover of an existing one.

Banking apps are a unique type of mobile applications, that is why it is worth entrusting their development to the right company. 

Developing a mobile banking app with a proven partner

Having a great idea is fundamental, but having a team with business analysts, project managers, and experienced mobile banking app developers to clarify your vision is crucial. It’s 100 times easier to bring it to life with a trusted partner. So, get to know Finanteq, a company with over ten years of experience in the banking industry. What sets us apart?

  • Technical excellence: we always ensure the highest standards of programming and development.
  • High-performing teams: our professionals are highly skilled and dedicated, capable of addressing various development aspects connected to banking.
  • Distinctive technology: native app development is our core, resulting in reliable, high-quality applications that offer the best user experience.
  • Optimized processes: we employ proven working methods and shorten communication loops. We also eliminate waste, and efficiently utilize resources.

Quality, speed, and efficiency

At Finanteq we focus on delivering the best quality in the shortest possible time while maintaining extreme efficiency. Whether you are embarking on a new mobile banking app project or revamping an existing one, Finanteq’s teams are ready to provide tailored SLA/maintenance support to ensure your app’s continued success.

We are a company that can help you maintain mobile banking applications that attract new customers, increase loyalty, enhance the banking experience, and stay ahead of the competition.

Our expertise, dedication, and unwavering commitment to excellence make us the best choice for banks striving for success. 

And when it comes to the preparation process, you do not have to worry about anything – all you have to do is to entrust the app development process to professionals.

Contact us for more details at [email protected].

Author: Agnieszka Torój