Before we dive into an explanation of why a progressive mobile app is a solution for Internet Banking. First, take a step back to understand how progressive web apps (PWA) differ from native apps. Learn about the quality feature of PWA which are beneficial for the Banking Industry.
Progressive web applications are websites that deliver an app-like experience. They are easy to access through web browsers. It runs on a single codebase. They are higher compatible with various devices, regardless of the operating system.
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Difference between Native and PWA apps
Mainly, native apps are used by startups to reach the target audience. They are fast and secure for mobile users. However, there are big challenges with native apps. Users need to download and access them only on specific platforms. Mobile apps take up too much space.
🔥 On the other hand, web applications offer the same native app appearance yet are accessible through browsers. It enhances the website’s performance by providing a better UX. Progressive web apps can be used without downloading, which makes them favorable for startups.
But, the real question here is why PWA is the best option for banking. To know more, read further.
Why Use Progressive Mobile Apps for Banking?
PWA technology shares benefits from both the web and app worlds. That’s why it makes it kind of special to use for banking. It includes all tidbits from both worlds that can come in handy for developing progressive mobile apps. Here is the list of features that make PWA a suitable technology for web development.
- They are discoverable, indexable, and shareable in search engines.
- Eliminate screen sailing issues with adjustable UI design on different screens and monitors.
- No longer refresh constantly or display chunky animation.
- PWA boosts efficiency.
- Installation times are reduced because files are smaller.
- It doesn’t consume much space.
- Works under poor network conditions that help users to complete the banking.
- TLS and HTTPS encryption protect the customers’ credit cards and personal information.
- Development and maintenance costs are lower compared to native applications.
- Provide a multi-language function, so there’s no need to search for language experts.
Key PWA features of mobile banking apps
A mobile banking app should have valuable features to provide an effortless and seamless banking experience. It should be well designed and avoid adding unnecessary stuff that may confuse your clients. These are the following banking app features to offer the best banking experience ever:
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Log In and Sign In
Sign-in is a crucial part of every application. It requires personal information to create the profile. However, it is essential for banking apps to provide secure sign-in to avoid any data and money theft.
PWA apps offer secure Sign-in and log-in features to the banking apps. It is easy to manage security issues through browsers. However, it is time-consuming for users to sign in manually. Test your progressive application security before launching to protect your users’ data.
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Account Management
The biggest reason for using internet banking apps is that it offers various features:
- bank account status
- credit card balance and management – blocking and setting limits
- deposit a check
- Debit and current credit report
- Money transactions.
- ATM and branches lists and locators
- Digital wallets,
- Investments and repeated payments.
Progressive web apps deliver all these valuable features with a smooth browsing experience.
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Customer Support
Better customer support can improve the banking sector. A personalized approach will benefit both customers and the banking app. Through PWA, it is easy to provide a couple of practical guides and professional consultations for investments and bank transfers.
Also, Progressive websites can help to give customer support 24/7 through live bots or AI chatbots. It is a good reason for internet banking to opt for PWA.
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Secure Payments and Transactions
Doing payments and transactions online involves higher risk. For any banking app, it is essential to prevent fraudulent activity when your users are doing online transactions. Progressive websites are well-equipped with the following solutions to secure transactions and alerts:
- using QR codes for important transactions
- account activity alerts
- setting fraud alerts
- third-party security tools integration.
- easily accessed guides on routine risk prevention.
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Billing and Invoicing
Preparing bill payments is time-consuming. Progressive web applications consider this challenge by providing various payment solutions. It helps save time by scheduling bill payments.
Also, it allows paying monthly bills with pre-saved banking details. There is no need to pay additional fees or go to the nearest ATM. Whenever the client wants, recurring bills can be used, just with password verification. -
Push Notifications
Push notification is a successful feature of PWA to improve the internet banking experience. It helps banks to send text messages to clients. The best part is that customers can receive them without being present in the app. Because of push notifications, PWA is a better option than traditional websites.
Include notifications control in the settings for the clients to select the time, types of messages they want to receive, frequency, etc.
The Final Note
Launched by Google in 2015, its popularity is exponentially growing among different industries. Big tech giants and brands have also switched to progressive mobile apps to expand their business horizons. It helps the internet banking industry to help customers focus on their money. In the next 5 or 6 years, PWA may replace native apps in terms of storage space, maintenance and development costs, etc. Need any help with PWA development? We are here to help you.
