There are only a few mobile banking apps that make a difference in terms of design, customer lifetime value (CLV) and user retention. Such banking apps are known to offer the following to enhance banking services.
- User-Friendly App – Easy and Simple to Use
A mobile banking app is said to be user-friendly if it is intuitive and simple to use. It should help enhance the user experience by providing all the essential facilities that meet a customer’s requirements and expectations. With a user-friendly interface, a net banking app is tailor-made to specific customer group, who wants the app to be easy to understand, even when using for the first time.
A user-friendly net banking app is so designed, keeping in view of its users who can navigate through various functions easily, and make use of them in the best possible way.
- Safe and Secured
When it comes to the safety, as well as security, of a mobile banking app, it ensures it through multi-factor authentication. A customer, who logs into the app, is usually guided through meeting certain security features like providing a unique username and password and verification through an OTP, which is sent to his or her registered mobile number. For every transaction conducted, you will receive an OTP through SMS, which you have to enter to ensure safety of your information online. The app is highly secured that any data communicated by you is encrypted before the transmission across the banking channels.
Moreover, the banks also protect your account and data through device authentication, which is by verification through six-digits PIN. This ensures that you have a seamless banking experience with all the security checks in place.
- Innovative Tools for a Better Banking Experience
A banking app helps improve user retention through exciting features offered by its innovative tools. A user who uses the mobile banking service can link any different bank accounts and track payments and balances from a single platform without wasting time and effort. With a personal banking facility, you can manage your finance by applying for instant personal loans through paperless application and minimal documentation. The facility extends loans for buying motor vehicles, homes or household items; thus, enhancing customer experience.
An app also helps you with investments through 3-in-1 mobile banking account to help you trade in equity, mutual funds, currency and commodities. In a way, you get better control over your finances through a spending tracker offered by the app. This further helps use your money intelligently, and at the same time, set a saving goal to realize within a given time.
- Connect Customers When They Want
A distinguishing feature of any successful banking app is its support to customers at any time. It helps enhance the customer lifetime value by providing a personalized approach attending their queries and providing solutions to them. Powered by artificial intelligence (AI), a banking app has a chatbot that works 24/7 taking care of the customers.
There are still other services a net banking app can provide to improve customer experience every time.