7 must-have Corporate Banking App Features in 2020

May 20, 2020

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Mobile applications are a crucial part of services in today’s modern advanced world. Every service is now getting contracted amongst the apps which are stored in the smartphones. It will be an incredible experience of the world without mobile applications in this world. Sudden changes in the past few decades in the sector of technology and IT has transformed the way people used to meet their basic needs and requirements. The introduction of such technologies day by day is eliminating the need of customers to visit a location physically.

Why Mobile Applications?

Mobile applications are one of the features that have been introduced in all the sectors from education to commerce. But, is there a necessity for mobile apps so desperately? The answer is quite apparent. The way people have transformed in this century is quite alarming. Every person tends to spend significant time in their smartphones scrolling through different apps.

Mobile app development agencies all over the world are flourishing due to this sudden trend. Companies of especially some regions like the mobile app development agency in the UK have seen rapid growth and boom in the overall production.

Services are more easily accessible to people via mobile applications and other online platforms. For better penetration of the market, there is a desperate need for every company ranging from startups to big enterprises to introduce their mobile applications.

Corporate banking app

Banking is also driven by the current trend and has introduced new flexibilities for the customers. The banking app agency in the UK is organised explicitly for developing tailor-made banking applications for corporate banks. Corporate banking app development has now become a common trend in banking. Banking in the automated world might be so difficult for customers without the introduction and use of mobile applications.

Here are the 7 must-have corporate banking app features that need to be implemented necessarily while corporate banking app development.

#1 Security in the login process

Digital security concept

This is one of the features that is mandated not for just corporate mobile applications but the whole set of mobile apps. Managing security and privacy in every platform is a must when it comes to banking, it is somewhat more critical.

Several modern automated processes can do authentication of the right user. The concern needs to be taken to ensure that they are not so time-consuming for the users.

Banking app agencies in the USA and other parts of the world take this feature as the central concern while corporate banking app development. Some of the banks around the globe have introduced some new ways for the same. Voice recognition, eye scanning, face recognition, etc. are some of the new bio-metric authentication processes that have been introduced in the wake of this concern.

#2 Payment via QR codes

QR code is a general authentic way which is in its extreme demand all over the world. The QR code scanning technology has gained wide popularity due to the ease provided by the feature for payment. Customers just need to place the smartphone in front of the QR code and scan it to make payments.

The introduction of QR codes is not a sudden development; QR codes are amongst one of the most automated features applied in various fields. The problem arises when the scanning feature is not generally equipped while corporate banking app development. Banking app agencies in the UK and the USA are nowadays taking the concern of introducing this feature too, while corporate mobile app development.

#3 Recent updates and notifications

Customers need to be updated regularly by new upcoming features of the bank. One way to do the same is to notifying the customers by a short message or a phone call. A unique feature of short notifications in mobile phones is a better adaptable feature. The banking app agency in the UK takes the concern for introducing the feature of quick notifications with the advent of the new update of the bank.

Notifications are an intrusive feature that can be controlled and regulated easily by the concerned bank authority. A mobile app development agency in the UK is concerned with introducing the same feature or the bank directly contacts the interested customers.

#4 Voice payments

Voice payment is a new adaptable feature in the banking arena. Despite being new, it is also one of the rapidly growing features in corporate banking applications. Banks may need to take the assistant of some other third party for the same but can be done possibly by the assistant of any remarkable app development agency.

The banking app agency in the USA has adopted this feature by seeking the growth of this feature adaptably in the US. About 8% of the total US respondents use this feature over any other payment method.

#5 Peer-to-peer payment options

Paper money is declining and losing its scope amongst the people. This is due to the introduction of various automated mobile applications that provide ease in transaction and payment processes. Peer-to-peer payment is the feature which is the transfer of payments from one bank account to another bank account.

Mobile app development agencies in the UK and the USA are rapidly introducing this feature in online baking applications, looking at the current scenario.

#6 Fraud alerts

Banks should always take the concern to notify the users about different frauds that are prevailing in their sector. Fraud alerts are different from other notifications and regular updates of the bank. Fraud alerts can be widely helpful for the users to be aware and attentive for any of the fraud and mismanaged in the banking functions. Fraud alerts are generally equipped features of corporate banking app development agencies and companies while designing a mobile banking application.

#7 Proper bank account management over the same platform

With this feature, users can easily access and scan their credit, debit, and bank accounts via the same application. The banking app agency in the USA is on its way to introduce this feature to a wide scale. This feature is a unique feature with which users can check other features, including transaction history and account balances.

Desired savings, Investment orders, and repeating payments are some of the other features due to which corporate banking app development agencies are seeking to implement this feature more widely during application development.

Verdict

Mobile applications can be the first interface between the bank and the users. Corporate banking app development agencies and companies are always available with reasonable rates or the esteemed services. There is an acute need for banks to invest more in application development. Banking app agencies in the UK, USA, and Canada are quite aware of such features, and their assistant is quite fruitful for the corporate banks.

Do you wish to have a secure corporate banking app?

SYMSWEB offers 100% secure corporate banking app development for financial startups and SMEs in the UK and USA. We have a team of intelligent app developers who can develop iOS, Android as well as cross-platform banking apps for your commercial project. Request a quote for your next banking app by clicking here.

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