6 must-have features for every consumer banking app

With the banking world going digital, most accountholders today make use of mobile banking apps. For the best consumer banking experience, it is imperative for you to sign up for the mobile banking services offered by the bank. Doing so will meet all your banking needs easily as you will be able to complete banking tasks at your fingertips. Now, to find a good mobile banking app, here are some features that you should look out for:

  • Bank account management

The main reason that you should sign up for a mobile banking service is to manage your bank account with the help of your mobile device. With the help of a mobile banking service’s bank account management capabilities, you can easily check your credit cards, oversee your bank account balance, transfer funds, and view transaction histories from anywhere, at any time.

  • State-of-the-art security

Before using digital products and services, any individual would want to be ensured of their safety and privacy. To safeguard their account holders’ personal information, banks ensure that the banking apps they offer feature customer authentication, end-to-end encryption, and malware detection. The best online bank app also protects your account against all types of hacking and risks such as phishing, man-in-the-middle attacks, and trojans.

  • CORE banking

The CORE or centralised online real-time exchange banking can be defined as a back-end system that can process transactions and updates almost immediately. CORE banking can help with things such as opening a new account or managing an existing account, managing loans, calculating interest rates, making withdrawals and deposits, and many more. Furthermore, the CORE banking system can also be specialised for purposes such as securities trading, retail, and wholesale banking.

  • Intelligent chatbots

Providing an excellent consumer banking service to account holders is something a reputed bank should prioritise. The presence of a smart AI chatbot feature in a banking app ensures that you could enjoy 24/7 support from your bank. A chatbot can attend to simple customer inquiries.

  • Bill payments

One of the most basic features provided by banking apps, bill payment enables you to pay bills quickly with just a few clicks. Nowadays, banks also offer smart features such as auto-pay. For example, IDFC FIRST Bank’s auto-payment feature ensures that you don’t miss out on bill payments. Apart from that, it should also include features such as notifications on all transactions in a bank account, expenditure tracking, setting up recurring payments, and adding shortcuts on the dashboard.

  • QR code

With the help of the QR (quick response) code, you can pay for any product you want and do it contact-free. A QR code scanner on a banking app can help you in paying for your purchase, directly from your bank account in real time. 


There are some of the key features that a safe online banking app is expected to have and reading about this can help you in picking a suitable one.