The latest mobile banking features you should know about

Mobile applications have changed the enterprise operations of most business sectors, including banks. With these apps, banks can provide superior service to their customers, who want convenience, speed, and security when carrying out financial transactions.

Most financial institutions offer a mobile app to their customers as a step toward simplifying banking tasks. The users find it more beneficial than visiting a bank’s branch for the services. Since the pandemic, there is an increase in the number of people using an online banking app. About 97 percent of millennials use retail internet banking today. Generation Xs are following suit, with about 91 percent using a mobile banking app to pay bills and transfer funds.

More and more customers are using it, and banks are keeping up with this development by adding the latest and advanced features to their apps. IDFC FIRST Bank offers you one of the best internet banking apps with unique features. Some of the interesting ones to note are:

  • Convenience 

 

The IDFC FIRST Bank mobile app helps you do banking whenever and wherever you want.

You can do most of your banking on the app without going to the bank and waiting in queues. It is so convenient that you can access the app 24/7 to check your account balances by linking the bank accounts.

  • Providing multiple functions

The latest mobile banking app from IDFC FIRST Bank offers multiple functions. You don’t have to visit a bank in person to open a bank account. Instead, the app allows you to go through a digital process of submitting your details and documents online. You can carry out an online money transfer via UPI, NEFT, IMPS, or RTGS payment method on a bank account.

IDFC FIRST Bank also offers other money transfer services like ‘Pay to Contact’. It helps you pay or transfer funds to anyone in your contacts using the UPI integration facility on the app. The other functions include paying credit card and utility bills by scheduling them and setting up alerts for reminding payments, low minimum balance, and any unauthorized intrusions.

The AI-powered mobile app also suggests investing in mutual funds, sovereign gold bonds, and unit-linked insurance plans. You can also contact your bank’s customer service center on the app through phone, chat, or video call. The AI Chatbot helps you solve any problems or queries immediately.

  • Tracking of your bank account 

With a net banking app, you can easily access and monitor the money flow in your account. You may have one or multiple bank accounts, which will have innumerable transactions such as deposits, fund transfers, withdrawals, payments, and investments. With smart filters, you can categorize the transactions based on their types and names, and payment methods and manage your account. The alerts and notifications are other features that facilitate easy tracking and controlling of your financial transactions.

  • Advanced security and alerts

The best banking app is designed to have high-security features to protect customers’ money from malicious intruders. The mobile app from IDFC FIRST Bank offers complete security using multi-layer encryption. Thus, customers’ sensitive data are completely protected at different levels. To help it, a unique login PIN, biometrics, two-way authentication, and limited login attempts are the security features implemented for every user individually.

 

  • Other features

A net banking app also offers other features like an investment app, instant loans app, and budget app, which help manage your finances. You can easily apply for a personal loan, consumer durable loan, vehicle loan, and education loan on the app. Similarly, you can plan your investments in mutual funds, sovereign gold bonds, and unit-linked insurance plans. By using an income and expense analyzer and setting up spending alerts, you can regulate your cash flow, save money, and earn high returns.

To conclude, most banks come out with a mobile banking app with advanced features that offer a personalized experience to customers. IDFC FIRST Bank meets its customers’ requirements through a customized banking app, which you can download on your mobile phone now.