What are Banking and Financial Mobility Solutions?
With the whole world going digital, the Banking and Finance industry is also embracing technology by turning to Banking and Financial mobility solutions. Despite apprehensions about the safety of mobile applications to carry out banking services, a wide range of mobility banking solutions have surfaced over the years.
Mobile finance solutions have been revolutionizing the banker- customer relationship by providing almost all services at the ease of a click.. The confluence of Banking and Mobile apps can be seen across an array of developments, ranging from Mobile apps of major banks to carry out transactions, to digital wallets and apps have even emerged that help you maintain a mobile investment records and know your worth.
To know more read Financial Technology- Fintech Everything you must know
Mobile Solutions in the Banking and Finance Industry
As people became more reliant on smart phones for almost all things, the idea of mobile transactions gained currency. Bankers felt that customers were no longer willing to come to bank for the services, and realized on the need to take banking to customers, hence banking and financial mobility solutions were proposed.
Click here and know about Importance of Payments Banks for Financial Inclusion
- Mobile financial solutions facilitate greater saving by providing budget assistance and savings.
- Beyond the conventional banking apps, other mobile solutions are striving to help users track their expenditure and budget, as a move towards digital financial planning.
- One of the most popular mobility financial solutions has been the Unified Payments Interface which allows the users to carry out cashless transactions using a unique identifier, without revealing or storing any card account details.
Major Startups providing Banking and Financial Mobility Solutions
Among numerous startups striving to change the banking and finance industry through their mobility solutions, some have left a genuine mark. One such Mobile App has been Paytm. Brainchild of One97 communications, the mobility solution acts a mobile wallet and facilitates mobile transactions and has raised a funding of $700 million.
The next in line is Freecharge which has been designed to facilitate mobile payments and acts as a store for money for those who don’t wish to save their account details in their mobiles. Tapping a Hong- Kong based fund, Freecharge has raised $80 million.
Finally, there is The Mint App which allows its users to consolidate all financial transactions across multiple accounts and cards under one platform to attain an overview of one’s worth. Following rounds of funding, the app has raised a total of $31.78 million.
- M- Banking solutions provide a plethora of features to make banking a seamless experience.
- Beginning with cashless transactions and one touch customer service, banking apps act as a medium of dialogue between bankers and customers, minimizing time and resource wastage.
- Apps dealing with services like mobile wallets act as an alternative means of secure payment where storing account details are optional.
- Mobile finance apps provide a platform to cater to one’s investment requirements and maintenance of financial records for smooth functioning.
These apps provides quick service delivery.
This app helps in notifying the user about the invested worth current condition and also enables easy access to track the investment.
Ease access and maintenance
App has easy access and provide maintenance for the mobile banking accounts.
Monitoring of Transactions
It helps in tracking and recording of all transactions.
With the help of this app User can carry out the transactions in the app only without getting redirected to any other browser.
Banking Apps encourage us to do safe and secured cashless transactions.
Different Types of Banking Applications
E-wallets are known for cashless transactions app. With the help of this app instantly we can transfer or can get the money. Theses apps also has so many loyalty programs such as cash back and coupons, which attract the user to make the transaction through e-wallets.
Insurance comparison app provides the comparison between all type of insurance product available in the market and guide us to choose the best and suitable product for us.
This type of apps helps user to track and monitor their Expenses.And provide analysis for the necessary and unnecessarily expenses as per our requirement.
These type of apps enable the user to pay any type of bill in few simple steps. And in back the user earn loyalty points which they can use to make there next billing transactions.
ARE YOU READY TO WORK WITH US
We at Recro strive to provide the best banking and financial mobility solutions by giving our clients a platform to share their ideas and engage in the creation of a robust mobile app by deploying cutting edge technology to enhance productivity. It is our endeavor to deliver the result oriented mobility solutions for all major platforms through a combination of Design Thinking, Lean and Agile to achieve market leading performance. We also assist our clients in reaching vast audiences and ensure sustainable post-delivery customer satisfaction.