Mobile banking app is a software application with simple user interface developed specifically by the financial institution for use on smartphones or tablets to carry out banking services. Transactions have now moved from bank branches to cell phones, the quality of mobile banking apps have become enormously important and now at a position where banks battle to retain existing customers and lure new ones.
One of the reasons why the number of mobile app users are increasing over the year is the ability of customers to do more within the app. The best apps must have a good, intuitive user interface as well as simplicity of design, functionality and ability to improve customers experience. Here are the 5 most popular mobile banking apps:
USAA Mobile app is among the 5 most popular mobile banking app. With this Mobile app, customers have unlimited access to many of the financial services that this diverse company offers. Customers can transfer funds between accounts, pay bills, trade stocks and deposit checks. User’s Insurance claims and request insurance cards can effortlessly be done using the easy interface. Earlier this year USAA started developing a mobile feature that will enable consumers make use their phone’s camera to capture images of blank checks to help build USAA accounts while avoiding manual data entry. The mobile app is available for Android and iPhone.
BBVA Compass was among the first U.S. banks to allow customers register directly for mobile banking, rather than signing up firstly for online banking. Like many banks, startup BBVA compass mobile app offers customers view transactions and find ATMs. Amazon Kindle Fire acknowledge the app as one of the first to be on the tablet’s market. It has various user-friendly interface and features. The app allows customers flip through their check images and clearer legal disclosures.
Bank of America
Bank of America mobile banking app gives account balance updates while on the go and payment of bills, fund transfer or locating the nearest ATM or branch using GPS. U.S. Bank was one of the first financial institutions to offer P2P payments, logging in with fingerprint, e-billing, credit advances on mobile and mobile deposit capture. The bank added the mobile deposit feature to its app last year and the move was popular with its 12 million plus mobile customers. A service that allow photo mobile bill pay – customers can pay a bill by simply taking a picture of the invoice. The bank is making serious effort to improve the interface of its iPad app based on users feedback. The bank charges a 50 cent fee for every mobile check deposit which make it among the few banks that gain revenue from mobile banking. It is available for Android, Blackberry and iPhone.
The Bank’s mobile app via the mobile interface offers services such as bills payment and credit cards, check balances, locate a Chase branch or ATM, view rewards and business transactions, transfer money and make a deposit using RDC (if below the maximum deposit limit), use one-touch calling for 24-hour customer service. In order to be able to access account information through this mobile app, customers must first enroll in Chase Online. Available for iPhone and Android.
Mercantile Bank of Michigan
Mercantile Bank is popular for mobile innovation. It was the first ever bank to partner with PayPal; it offers PayPal mobile payments and archive all previous transactions on mobile devices. The bank is developing an “add to wallet” feature that will allow people use mobile payment options from Google and Visa. It’s also working on how to integrate its mobile banking app with personal finance management software program, such as Mint, which allow customers to pull all of their financial accounts into a single view. It has a building support for mobile video technology thanks to uGenius. This video connection is a big step which explains its user acceptance and general usefulness.
Even though many of the apps on this list have similar features, each app does have at least one unique feature that makes it unique. The best app for you depends on your banking needs and your level of comfort with technology. The modern lifestyle can be very busy and stressful. Mobile banking is a great solution to save yourself some valuable time.