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4 Revolutionary features to consider during Mobile Banking App Development



If you are a fine tech or bank startup and want to automate the administration of consumer records and account information, you will be landed in the right place. Here we cured 4 features of Chime, the US based mobile banking development that has changed the way people are knocking. Think of these 4 unique features of Chime during banking app development.

Are you a fintech startup and a problem in dealing with consumer records and account information? Do you want to automate customer savings and provide them with financial health with easy money management?

A banking and finance app can handle all these features with just a few cranes. The new technological advances in the mobile banking applications segment such as the Internet for things, Blockchain Technology and Cryptocurrencies have escalated the path program genre. Mobile app solutions become real assets for financial services.

Recently we came across the latest news about the N26 that helps customers manage their bank accounts via smartphones. The Berlin-based mobile banking development startup announced that it has increased $ 1

70m and expanded its series of D-rounds. The total financing of the company is said to be over $ 680million in combined USD and Euro-denominated VC support.

We at Space-O Technologies have provided effective business mobility solutions for the financial industry with various features that are faster and unhackable. We have a result-oriented approach to creating an app. One of the finance programs Paynow for Stripe has over 50,000 users and is ranked 3rd in Australia's most innovative programs. It is also featured in Mike Gingerich, AppAdvice and Business News. Now, let's talk about another money management finance app called Chime, which has changed the way people do banking.

The Chime app is a mobile-only bank that allows users to manage their expenses and savings accounts without hidden transaction fees. The multiple automatic storage options and the large free ATM networks make it the most convenient mobile app for banking.
Offer of Chime App:
Chime Visa Debit Card
Account
Optional Savings Account

As a nice start up, if you plan to invest in the idea of ​​mobile banking application like Chime, then review the following features in Chime app that you can consider during personal financial app development.

4 Features of the Chime App to Make a Successful Mobile Bank Application Development

# 1 Deposit Directly to Your Account and Be Paid Early

The Chime app is not similar to getting paid early apps. The app allows a user to fund his Chime expense account and automatically qualify to be paid early. The app gives its users a completed direct deposit form which he can submit to the employer. Thus, he is paid 2 days earlier than other employees via the Chime bank account.

  mobile banking development

Image Credit: Chime

What if your customers have to pay a car or house loan on the 10th of each month, but his monthly salary comes on the 12th of each month. Being a fine-tech startup doesn't make your customers wait, and the money is in some electronic glue booths, as traditional banking doesn't help you. The digital mobile app solutions can improve efficiency and exploit the business by providing such features through a mobile banking development.

# 2 No hidden fees or monthly fees

Chime app is known as a challenger app. It has set its new bank standards and provided users with "no hidden fees" accounts. According to a survey conducted by the app, the five largest US banks accounted for over $ 34 billion in overdraft alone in 2017. The average Americans pay about $ 329 a year as bank charges, most times they are unaware of what fees they are charged for.

  Mobile Banking Development

Image Credit: Chime

The finance application solution promotes a simple idea of ​​"no fees for using your own money." By providing such a function, it generates goodwill for the business. Chime app provides a visa debit card free of charge without charges that can be used where debit cards are accepted. Users can use the debit card over 38,000 toll-free MoneyPass and Visa Plus Alliance ATMs and over 30,000+ cash back sites.

The following fees are eliminated if a user has an account in the app.

  • Foreign transaction fees
  • Premium fees
  • Monthly fees
  • ATM fees

The app also provides ATM GPS tracking cards for easy access to money.

According to a report by Omnichannel and Branch Banking, more than 7 out of 10 customers are trying to avoid paying fees when they withdraw money from an ATM. One-third of users use only one cash withdrawal machine. If you plan to develop a bank finance app, make sure you analyze the customer's pain points as transaction fees and bank maintenance costs.

The user can also send money to friends, relatives or family with a free charge for mobile payment. With the online banking app, there are no transaction fees or monthly fees for sending payments.

  Mobile Banking Development

Image Credit: Chime

# 3 Deposit Controls

The traditional banking method for depositing a check is to stand in a line, wait for slip or send checks by email. What if someone has an urgent demand to deposit and spend both at the same time? The Chime app has a suitable solution in the app.

The user can get a quick picture of the check in the mobile app. The app makes a transaction of the said amount to the user's account. Thus, the app allows mobile check deposits anywhere.

# 4 Supports Mobile Payment Apps

The Chime app has a built-in payment option that includes Apple Pay, Google Pay and Samsung Pay. This allows users to leave their wallets at home and pay through the finance app. The app keeps a track of expenses that immediately tell you about the exact account balance anywhere, anytime.

Being a bank startup, you need to give your users a secure and secure payment gateway integrations or a mobile payment app. Such a feature can allow direct access to expenses, savings and a transaction statement from the app.

Wrapping Up

Having reviewed these core features of mobile banking app, Chime, we hope we help you build a better mobile banking app. The consumption of users in a banking service also depends on the security model of the app. In the case of Chime, the FDIC is insured up to $ 2.50 through Bancorp Bank; Member FDIC.

At Space-O Technologies, one of our Android app developers has done some research on fintech and bank startup. In this rapidly accelerating digital room, mobile banks have a long way to go. Take a look at these opportunistic growth statistics.

  • According to a report from statista.com, the number of mobile banking development users in the US is 57 million. In 2018, nearly 75% of thousands of digital banking services, which are expected to grow by 77.6% in 2022. Mercator Advisory Group's latest insight summary reported that 28% of people opened digital accounts with hesitation, but satisfaction with the digital account opening The success rate is very high, about 85%.

If you want to dive into the economy category with an idea based on Chime or to create an online banking program, you can check confirm your appide with us. We have developed over 3,500 mobile applications in different app genres. Among these apps are banking applications such as ftCash, Bill Genius developed by us.

If you still have questions or confusion on the development costs of mobile banking app, how to develop a financial app, the cost of Indian app developer, how to make money with an appide, please contact us through our contact form. One of our sales representatives will return to you as soon as possible. The consultation is completely free.

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This page was last edited on July 22, 2019 at 9:43 am.


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