Mobile banking app development is the best thing that develops around us. Banking has been around the world since money appeared. Just with time and technology changing, money is changing too. Money converted into digital currency and banking converted into mobile banking. Those days are gone when we had to visit the bank to make transactions, pay bills or accomplish any bank-related activity by standing in the queue. Not anymore! Technological advancements, including banking app development, have made everything more manageable and more accessible than ever before.

Here are the questions raised: How can users connect with this mobile banking app. Although everyone is smart enough to communicate with a new application, your Mobile Banking app features should potentially attract the target audience.

Read this article to drive deep into mobile banking app development.

What Is Mobile Banking App Development?

Mobile banking app development offers convenience to the users as everything is possible on mobile. From deposits, and cheques to withdraw money. Plus, users can operate anytime, anywhere. Mobile banking app development lets customers manage their bank accounts and conduct transactions using tablets, smartphones, or even smartwatches. It is the bank’s next step after developing an online banking application. With big banks giving mobile experiences, smaller banks have to follow suit. At the same time, we see a growing number of mobile-first companies, mergers, partnerships, and acquisitions between traditional banks and mobile fintech startups.

How Does Mobile Banking App Work?

In the city, many banks have applications users can download on their smartphones or tablet, allowing them to access their bank accounts with just some taps. This application enables users to track their spending, pay bills, and ensure that any deposits are expected to go through. However, users can not do cash transactions through the application and can deposit cheques with their phones using a camera. This mobile banking app development helps people as they can do their baking with a few clicks and don’t need to move out. Suppose you need to withdraw money from the bank and there is a national holiday. In this case, you must wait for one day if you don’t have a mobile banking app. However, if you have a proper banking app on your mobile, it will help you withdraw money.

Top Ten Features Of Mobile Banking App Development

● Advanced security and fraud alerts

Advanced security is always in demand, especially when it comes to online cash transactions. A successful banking app needs strong security features that go further than just signing in with a PIN or a password. Besides the security, the procedure of singing must be easy and fast. 

● CORE Banking features

The CORE banking system is a centralized back-end platform that permits the banks to work fast on key banking activities like accessing bank accounts, updating users’ information, processing transactions and other functional records and many more. Many banks use this feature to quickly fulfill many banking operations and manage huge transactions, ensuring the uninterrupted functioning of banking items. 

● QR Code Payments

QR technology is easily spreading among diverse industries, including retail and banking. Now, customers can instantly buy any items they like and contact them for free, which is valuable in an emergency. According to the QR payments survey report, one-third of Chinese customers make their payments with QR codes. Plus, the number of expected Chinese QR code transactions is rise by 16.4% by 2020-2024.

● Mobile Check Deposits

Slowly traditional banking became a past. Mobile banking apps have already offered brick-and-mortar facilities. However, not all services can be performed by digital solutions. Recently online banking provides one more service that has become available digitally. Banks have started offering online mobile cheque deposits. 

● Peer-to-peer Payments

Peer To Peer Payment App is a way more convenient to transfer funds to someone’s accounts via mobile application. Using this technology, users don’t need to withdraw cash from an ATM to share it with anyone, and you can simply split the bill or pay for any services. There are many mobile banking apps that offer P2P payments like Venmo, PayPal, Facebook and others that make money transfer among accounts and swift. 

 ● Bill Payments

It is a basic feature offered by mobile banking apps, and it permits users conveniently and quickly pays any bill just by clicking on a few buttons. Your Mobile Banking App Development can become more convenient if smartly upgraded with some features. 

  • Automatic bill payment features to avoid hassles of payment missings
  • Notification on any activities that happen on the bank account, for example, income and expenditure notification, alerts on the upcoming payments, and many more. 
  • Settings for recurring payments for daily payments used services, loans, or mortgages. 


● Intelligent chatbot

Banks already use AI smart chatbots. They made banking apps more customized and increased service availability and 24/7 customer support. While using chatbots, customers should feel overwhelmed with repetitive banking tasks as they can fulfill their needs in friendly human-like conversations. This feature will attract customers to your banking app and increase your number of customers. Suppose you are stuck in some situation and need some customer support. If your application had this feature, there would be no worries. 

● ATM/Branch Locator

It is a simple branch locator that some banks overlook but can make a big difference for bank customers. Sometimes customers need to find the nearest ATM or bank branch, and searching on the phone is not an option. That’s when the ATM/ branch locator in a mobile banking app appears to be really helpful. 

● Special Offers

Mobile banking apps can be used as effective tools for launching marketing campaigns. This way, users can use the banking app and receive notifications on exclusive discounts, cash back, or personalized offers. Moreover, it is beneficial as it is an android banking app development so that people can easily download and use it. 

● Personalized money management insights

AI integrates with digital solutions like mobile banking apps and enhances the customer’s experience. Suppose, based on collected data on the app users, bank statistics, and data online; it can offer outstanding money management tips.

Cost Of The Mobile Banking App

The cost of the development of the banking app depends on the feature and technology used in the mobile banking app. Moreover, the cost varies on the developer’s cost as well. The approximate cost of mobile banking is $192000-282000. it is an estimated cost that might change with the feature, developers’ cost, and location. Furthermore, you must know other miscellaneous expenses which you can not avoid. The developer’s cost varies from location to location, company to company. Here is the cost incurred while building mobile banking app.

Extra feature

Approximate cost

Cashback service


QR-code scanning


One-click payment methods


Splitting bills


Booking third-party services


ATM and office locations



Final Thoughts

These are the points that will help you in making mobile banking app. If you are working on a mobile banking app, these tips would definitely help you in the build that application. If you need help, you can contact a mobile banking application development company. We hope this article will give you extreme knowledge about mobile banking apps and help in building banking app development.