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06 April 2021

Features and Cost of Developing a Mobile Banking Application

Banks are increasingly developing programs for portable devices like a smartphone or tablet, which are characterized by wide functionality and eliminate the need to use a PC and the official website. A potential client of a credit institution and a user of the developed application will be able to make transfers, receive notifications about new funds on the card or a hacking attempt. The phone will make it possible to exchange currency in a few clicks, record reports on transactions carried out, contact technical support directly through chat, and not wait on the line until the manager of a financial organization is free.

Thanks to the use of the application, a person, being in any place, will be able to monitor deposits, accounts, credit charges and rates, find the nearest office of the organization or an ATM. To do this, you do not have to ask a question in a search engine, which significantly saves time.

Numerous financial transactions are now carried out through mobile banking. The advantage of such helpers is remote mode. You just need to connect to the server. The developer's task is to create an application without bugs and with full functionality, which will be suitable for smartphone software and will be able to provide services related to transactions in a matter of minutes. Now mobile banking app development is very popular. In the shortest possible time, you can create a program on Android or iOS with a simplified interface and a full package of services, as on the official website of the bank. High-quality development will not be inferior to the original in terms of usability.

What functions does the application consist of?


The advantage of having a bank application in a smartphone is the ability to use it around the clock. Now, in order to top up your personal account or pay for public services, you do not need to choose a day, go to the bank and stand in line. If the developers are not mistaken with the code, then there will be no temporary restrictions on access to the bank client's account. But you can't do without setting a limit on operations. A well-developed application allows the client to independently set this limit, which increases the bank's reputation and the trust of the potential audience.



Mobile banking should provide such features:

This is a classic set of features that must be present in a well-designed mobile banking application. Some programs even allow you to open or close the card without leaving home. This function can also be added to the app. All details, structure and concept are previously agreed with the customer. All a potential user needs to do is install the utility on a smartphone, create an account, enter biometrics, come up with a strong password and log in to be able to conduct financial transactions and receive notifications about all charges/debits.

Developers can program automatic updates of the application by default or allow the client to make their own choice and update the application manually as needed. This aspect depends on the wishes of the customer and the expected functionality. We recommend you to request the automatic update setting. In this case, the application will immediately receive new functions from the developers and fix bugs, improve user safety.

Technical features of creating a mobile banking application


To develop an application for a banking organization, it is initially necessary to create a technical task. Usually programmers discuss all the details already at the first consultation with a potential customer. If the client does not know how he wants to see the finished program, computer engineers can solve this issue on their own and provide a choice of several options. It will be easier to carry out a comparative analysis of offers and choose the optimal.

The TOR indicates such information:

Now you can easily think over a multifunctional concept of a desktop operating system, which will visually resemble the official website of the bank. The customer needs to remember that they will have to spend money not only on the development of the mobile application itself, but also on updating the system, and further servicing of the utilities. Many people simply develop a mobile version of the site, but in terms of functionality it is significantly inferior to the program.

Directions of mobile banking:

Any mobile banking concept is built on these foundations. It should be a universal and accessible analogue of the official website, which offers an up-to-date line of services of a financial organization. The developed program will be able to function thanks to the connection to Wi-Fi, 3G and 4G.



Immediate transaction processing, customization flexibility and reliable protection of confidential data guarantee comfortable and affordable work with finances. Experts use codes to make information more secure and protect users from intruders.

When developing mobile banking, programmers face such problems:

If you experience any of the above crashes while using the ready application, experts will help you fix them by releasing a new update. In some cases, software reinstallation works.

Many potential users are afraid to connect to mobile banking for fear of losing their smartphone or falling into the hands of scammers when paying for some service online. Experts will take care of creating a secure algorithm for authorizing your personal profile. Now you can add not only a password to the application, but also a fingerprint scanner.

Reliable use of the program is guaranteed due to the encryption of data transmitted over the air and stored on the smartphone. The device will be physically protected from hacking, you can add the function of providing a one-time password to enter or conduct operations with funds. QR codes and the possibility of automatic blocking in case of hacking or loss of the gadget are also popular means of protection.

The risks of unauthorized login and use of the application are minimized even at the stage of program development. The spread of viruses, spyware and spam, which can get to the smartphone if the user decides to install unofficial utilities with infected files not from the market, is excluded. For reliable protection, it is recommended to stop using unverified installation files.

Such advantages of mobile banking are highlighted:

The developers are ready to add to the program several options for withdrawing funds, currency exchange, services for preliminary withdrawal of money at the nearest bank branch or at self-service points.

How much will it cost to develop a banking app?


It is difficult to name one clear amount for the provision of services for each customer. The price depends on the amount of time spent, the level of complexity, the concept of the future application, the development of additional functionality and the use of special security codes.



Programmers, engineers, designers, analysts, testers, managers and other specialists are involved in the development of a mobile application. Each of them contributes to the creation of the application, and his work should be paid. Already at the first or second consultation, the potential client usually finds out the approximate cost of the finished project.

Features of custom development


Under the custom development of a mobile application, it is necessary to understand the search for an individual and unique solution that professionals are looking for for a specific customer. Classic forms will not be used for this project. Originality and development of your own idea is the main basis of the custom method. Specialists deviate from standards and create a product that is suitable for a specific circle of potential users.

Custom development of a mobile application usually costs more than a standard one, but it guarantees high quality, openness, usefulness, allows you to stand out in the market and does not offer alternatives, which means that competitors will not be able to lure the circle of potential users to their side since they will not have such the same functionality.



The IT infrastructure offers advanced functionality, comfortable integration, and the incorporation of authoring developments into programs. Now custom development is a key USP. As a basis, experts take the standard form of any mobile application, but they also supplement it with widgets, systems, functionality, specific reports and capabilities. Only custom creation of an application offers updating, solution of complex problems, satisfaction of the wishes of even demanding customers.
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