21st Century: Modern Banking Apps Enable Smarter Banking

In the world of banking, digital banking has become a crucial component. People are constantly on the move; no one wants to indulge in branch banking for apparent reasons. Most people prefer to avoid long lines and excessively long wait times when they need to use the banking system.

Mobile banking brings the bank to you for all the convenience. Mostly all transactions can be completed from your home, office, or anywhere in the world. Mobile banking is emerging as a new way to provide banking services.

Everyday mobile banking tasks that you can carry out can on any mobile device include performing basic transactions like fund transfers, apply for credit cards, making bill payments, checking account balances, etc. You can also perform complex services such as portfolio management, real-time stock tracking, etc. Almost all banking services are now available with a few clicks.

What banking services are there on mobile banking apps?

The most fundamental banking activity is making payments and transferring money from one account to another. Therefore, these are the most sought-after mobile banking services. You can send money to anyone by using UPI apps. Just link your account with the app; now, you can pay for purchases and transfer money.

Do you need your transaction history and can’t find your passbook? If this had been the case a few years ago, then you had to go through a tedious process to get it but not anymore, as with mobile banking, you can get your transaction history in just a minute. Mobile banking allows clients to view their account balances and statements by requesting a mini account statement, review transactional and account history, monitor term deposits, review and consider loan or debit/credit card statements, access investment statements, etc.

Banking has evolved to a new level beyond simply dealing with money. Banks have begun to offer investment opportunities through mobile banking. Nowadays, most banks provide their insurance and mutual fund product lines on the app. As a result, there are now numerous investment opportunities from which the customer can choose. Customers can now access these products through mobile banking and invest in them immediately. In addition, most banks offer a free Demat account to entice customers interested in the stock market. Mobile banking has attracted many investors due to its real-time NAVs and share prices. Just one mobile banking app, and almost all your financial and investment needs are on it for your convenience.

You can also request for renewal of your debit card as well as the issuance of debit and credit cards on the mobile banking app. If you are eligible and the documents are in order, you may get instant access to them. You can easily manage your cards with the mobile banking app. Get the statements and pay for the credit cards on the mobile banking app.

So get a mobile banking app and bank smartly.