Tag Archives: Digital Banking

9 best mobile banking app features for FinTech app development

Jan 20,2025 / By Vivek Patil / No Comments

Staying competitive in the constantly evolving fintech landscape demands exceeding customer expectations — delivered largely through mobile apps. For fintech leaders aiming to create the next-generation mobile banking app, understanding what sets top-tier banking apps apart is essential.

Let’s review the key mobile banking app features that matter the most for successful FinTech app development.

1. Card management

Card management allows customers to control their debit and credit cards comprehensively from the comfort of their homes. These self-service options enhance customer convenience and reduce the burden on customer service teams, allowing banks to optimize their resources.

Key functionalities include:

Card controls: instantly block/unblock cards, set transaction limits, and manage card preferences.
Reward flexibility: tailor reward programs to user preferences, whether for travel, tech, or shopping.
Event-based rewards: earn bonus points for actions like signing up for e-statements or meeting spending goals.
Multiple redemption options: redeem rewards through cashback and point-based purchasing.
Co-brand integration: convert points between cards and partner brands for maximum value.

Explore our Mercury Financial case study to see card management in action.

2. Security and biometric authentication

As users demand greater convenience and protection, FinTech app development must integrate robust security into critical mobile banking app features without increasing friction. Low-risk activities, such as viewing a “Quick Balance”, may require minimal authentication, whereas high-risk transactions automatically trigger full verification. Biometric logins, like facial recognition or fingerprint scanning, strike the perfect balance by delivering peace of mind without cumbersome sign-in procedures.

To strengthen app security further, mobile banking apps can incorporate:

Multi-Factor Authentication (MFA): adding layers like PINs or biometrics.
Liveness detection: verifying the presence of a real person to combat spoofing.
Data encryption: converting sensitive information into unreadable code.
Real-time transaction monitoring: automatically flagging suspicious activity.

3. Account management

Robust account management features are essential for any banking app. These typically include real-time balance checks, the ability to initiate one-time and recurring transfers, and quick access to transaction history, among other core functions. A well-designed interface allows customization of notifications related to balances, statements, and key account activities, further driving user engagement.

Real-time balances: give users instant visibility into current funds.
Transaction history: allow quick access to past transactions and insights.
Expense monitoring: automatically categorizes spending to inform better budgeting.
Multi-account management: combine checking, savings, and credit cards in a single view.
Goal setting: help users track and achieve their financial targets.

4. Personal financial assistant and bill payment

Paying bills and setting aside funds for investments can often feel overwhelming. Integrating features like automated recurring payments and scan-and-pay functionalities (including QR codes) reduces the mental strain of remembering due dates. Whether it’s utilities, insurance premiums, or local taxes, these tools make transactions quicker and more convenient, eliminating the risk of missed deadlines.

Moreover, transforming banking apps into personal financial assistants empowers users with actionable insights and personalized financial advice. Features such as expense monitoring, budget management, and goal setting enable users to make informed financial decisions, promoting better savings habits and investment strategies.

5. Real-time transaction history

Real-time transaction history offers users instant updates on their account activities. It ensures every transaction is recorded and immediately accessible, often complemented by push notifications for timely alerts. This functionality serves as a foundation for additional tools, such as spending trackers and report generation, empowering users to monitor and manage their finances with ease.

6. Loyalty programs

Loyalty programs in mobile banking apps boost customer engagement by rewarding users for their everyday banking activities. From earning points on purchases and bill payments to receiving referral bonuses, these programs offer tangible incentives that encourage consistent app usage.

Rewards can be redeemed for various benefits, such as cashback, discounts, merchandise, or direct account credits. By integrating loyalty features, banking apps enhance user satisfaction, build long-term loyalty, and create additional value for customers beyond standard financial services.

7. Peer-to-peer mobile payments

P2P mobile payments transform how individuals send and receive money by eliminating traditional banking intermediaries. Instead of requiring bank details, transactions can be initiated through a recipient’s phone number, email, or username. This simplicity streamlines everyday scenarios like splitting bills or reimbursing friends, making financial exchanges more user-friendly and efficient.

With features like QR codes and digital wallets, P2P payments are reshaping personal transactions and setting a new standard for secure and instant fund transfers.

Explore our work with Paytm, the #2 top-downloaded finance app worldwide.

8. Investment and wealth management

The investment and wealth management feature in mobile banking apps allows users to manage and grow their finances without relying on third-party platforms. Users can invest in mutual funds, open fixed or recurring deposits, and create contingency funds for emergencies with a few taps. These tools simplify financial planning, ensuring users can make investments directly from their banking app.

Users can track their portfolios in real time, access performance insights, and stay updated on market trends. The feature also provides access to diverse assets like stocks, ETFs, and cryptocurrencies, enabling smarter and more convenient investment decisions.

9. Lifestyle

Lifestyle banking is fast becoming a core element of mobile banking app features, reflecting changing consumer habits where multiple services converge into a single digital platform. Millennials and increasingly other demographics favor “super-apps” that integrate everything from travel bookings to shopping discounts, creating a frictionless experience that blends finances with daily life. Neobanks and mobile wallets have embraced this model, offering user-centric designs and hyper-personalization to meet evolving consumer expectations.

Banks can tap into FinTech app development by partnering with lifestyle brands, leveraging personalization and customer-centricity for stronger loyalty. For example, Chase Bank’s collaboration with Starbucks rewards cardholders for coffee purchases, seamlessly integrating banking into everyday routines.

How Robosoft can help you build a successful mobile banking app

A successful mobile banking app goes beyond features. It delivers a seamless user experience that prioritizes speed, ease of use, and customer satisfaction. Collaborating with an experienced IT partner ensures your FinTech app development strategy is robust and user-focused.

At Robosoft, we specialize in transforming banking and financial services with intuitive, high-performance apps that drive customer engagement, loyalty, and operational efficiency.

Explore our work and partner with us to build the best FinTech app.

Mobile Technologies

From digital banking to citizen services, UAE is leading the way in digital technology

Jul 3,2018 / By Vinodh Kumar / No Comments

In the past, UAE would have evoked imagery of an economy driven largely by oil and tourism (thanks to Dubai). Petroleum and natural gas continue to play a central role in the economy, especially in Abu Dhabi. The diversification of the economy began 20 years ago, with setting up of several hubs like Dubai Internet City and Dubai Media City. While technology was at the centre of these initiatives too, a key pivot happened in a few years ago, led by visionary leadership, to direct the end benefit to the common citizen.

The commendable aspect of these initiatives is that they are meant to make the everyday life of the common citizen easier, better. In 2013, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of the Emirate of Dubai, said, “We want to relocate citizen service centers into every citizen device, enabling them to obtain their desired service through their mobile phones anywhere at any time. A successful government reaches out to the citizens rather than waits for them to come to it.” So adoption of technology and a customer-centric approach have been the hallmark of digital initiatives in the UAE.

Technology for business and the common citizen

According to a McKinsey report in 2016, the United Arab Emirates, Qatar, and Bahrain are among the top countries in the world, with more than 100 percent smartphone penetration and more than 70 percent social media adoption—even higher than the United States. But true technology adoption is beyond numbers pertaining to smartphone penetration – it is about making lives of people and businesses easy. For example, ENOC developed an RFID-enabled fuelling system that allows cashless and card-less automated payments. In 2016, Bank Audi Lebanon launched Novot, a robot powered by Artificial Intelligence which helped a branch welcome and guide customers, as well as promote the Bank’s products and services. A leading medical &health sciences university wanted to automate their university operational workflows and centralized database to generate required reports and get information with ease. Robosoft crafted a solution which automated functions such as application registration, fee collection, time-table management, online exams, faculty-student communication and more through web app. Recently, the UAE Federal Public Prosecution launched an app through which public can report acts that are punishable by law.

The UAE is also considered to be a leader when it comes to digital banking in the Middle East. According to a report, Emirates NBD (ENBD), one of the leading banks in the region has committed Dh1 billion for digital transformation. The aim of banks like Mashreq and Commercial Bank of Dubai (CBD) is also to make service delivery channels more useful and customer friendly. In fact, UAE is also home to digital only banks like Liv.Me which boldly proclaim ‘No Call Center’ as their USP.

The region is also home for several global airlines – an industry where digital ‘design’ plays a key role in defining customer experiences.

The future is even brighter

The digital ambitions of the region can be gauged by the goal set in 2013: make available all government services accessible through mobile devices within two years. The official portal of the UAE Government lists several eServices of the government – Hotel, Apartment Engineering Drawings, Remote Interpretation Service, Renewal of Business Services and View Insured Employee Details…to name a few.

The vision for Dubai, while being futuristic places the interests of the common citizen at the centre. The Smart Dubai 2021 vision: to be the happiest city on earth.

“We are making Dubai the happiest city on earth by embracing technology innovation making Dubai a more seamless, safe, efficient and personalised city experience for all residents and visitors.”

Smart buildings, smart roads, smart energy, smart justice…and more are part of this ambitious program. The region is rapidly adapting new technologies to make an impact on the day to day lives of citizens.

In October 2017, Sheikh Mohammed bin Rashid Al-Maktoum announced the appointment of the country’s first minister of state for Artificial Intelligence. There is even an ‘UAE Strategy for Artificial Intelligence’, outlining the country’s aims to enhance performance and productivity by investing in AI. Saudi Arabia has announced the $500bn, Neom, dubbed ‘the world’s most ambitious project’ – a smart city where citizens will travel in driverless vehicles, have free Internet and live in zero-carbon homes.

According to Necip Ozyucel, cloud and enterprise business solutions lead at Microsoft Gulf, 60 percent of enterprises are planning to adopt AI and AI-embedded use cases including predictive analytics, robotics and machine automation… particularly in growth industries such as retail, finance and manufacturing. There is a growth in AI adoption not only in private sectors but also in the government services. The customer service chatbot of Dubai Electricity and Water Authority, Rammas, is a good example. The healthcare industry too offers great potential to embrace AI to enhance its services. Dr Bassam Mahboub of the Dubai Health Authority, believes that ‘the roadmap of future healthcare is a system that is a mix of mobile applications, chatbots, and smart computer analytics that will provide patients with their diagnosis’. The government has even established a ‘Drones for Good’ initiative which is ‘dedicated to transforming the innovative technologies behind civilian drones into practical, realisable solutions for improving people’s lives today.’

A recent report also revealed that UAE citizens express a strong interest in biometric technologies that make their lives easier. They believe that new forms of authentication, such as fingerprint, facial, and voice recognition, can make unlocking accounts and payments much easier and more convenient than traditional passwords or PINs. We at Robosoft have experienced the benefits of convenience coupled with security in a sensitive category like personal finance thanks to our work for online trading companies mobile payments & e-commerce platforms and banks.

In essence, digital technologies will continue to be interwoven into the everyday lives of all citizens and businesses in the UAE. In this context, design thinking will play a crucial role in planning the customer experience by empathising with their pain points. The future bodes well for the citizens of the region as technology is not used as an end in itself but as a means to end – a delightful customer experience.

Mobile Technologies

Digital Banking and Challenges before Urban Cooperative Banks

Sep 8,2017 / By Vinayak Prabhu / No Comments

In India, out of the1574 Urban Cooperative Banks (UCB’s) around 38% do not have Core Banking Solution (CBS). Most of the UCB’s are offering electronic fund transfer services like NEFT and RTGS in tie up with sponsor commercial banks. For customers of most of the cooperative segment, ‘branch banking’ was the only banking channel to bank upon, till recently. And they are serving nearly 60 crore customers.

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