5 Key Features of a mobile banking app


Smartphones are an absolute marvel of modern technology. They have made our life so convenient that we hardly need to step out of our house to perform essential activities such as paying utility bills, shopping, studying something, and now banking. You do all these using mobile apps, and the app industry has seen a tremendous growth in recent years. Today, it has become easy for banks to offer most of their banking services through a mobile banking app as more and more people are using their mobile phones for financial transactions.

mobile banking app

The IDFC FIRST Bank Mobile Banking app is a step towards providing seamless banking to its customers. The app is renowned for its principal features such as:

1. Safe and secure login process

A mobile phone helps the user carry out most activities, including financial transactions online. When dealing with banking transactions, the users have to provide sensitive information, which if not protected will go to the wrong hands. To ensure safe online banking, a mobile banking application asks for the user authentication. If you are using the app for the first time, you can log in safely by providing the online banking user ID and password provided in the Welcome Kit.

After logging in, you are required to set a 4-digit MPIN number to help you log into the app. In case you want to have multi-factor authentication, you can have your fingerprint as an additional password. Other than this, the app asks for an ATM PIN or UPI PIN code and OTP for every debit card or UPI transfers. You also receive an SMS for every transaction made, with details such as the account number, date, and time.

2. Access all bank accounts from a single platform

With the IDFC FIRST Bank’s mobile banking app, you can integrate your savings bank accounts with the same bank or different banks from one platform. This enables you to track the balances in your accounts, transfer funds from one account to another, make bill payments, set up recurring payments and manage money by investing in equity or gold or by opening a fixed or recurring deposit account. All these consumer banking services are available on one platform, and you don’t have to shift from one bank account to the other.

The user-friendly banking app also lets you create a budget to help you realize your dream, and get some tips to reduce expenses or charges or receive notifications for unusual charges

3. Make instant payments using a UPI-based app

An easy integration of most digital banking apps with several UPI-based payment apps has helped enhance their reliability. You can make quick payments without the requirement of an account number or IFSC code. With the QR code or BHIM UPI, you can transfer money easily and instantly. All you must do is to scan the code or use the 6-digit code to make payments or transfer funds to a beneficiary’s account or digital wallet.

4. Apply for an instant loan

You may have to borrow money to meet some unavoidable expenses connected with wedding, medical emergency, travel, or home renovation. With an unsecured instant loan, you can meet any of these expenses. The mobile banking app helps you apply for a digital personal loan at a competitive interest rate and flexible repayment option.

5. Manage your money

You can invest money in equity, gold, or mutual funds anytime on a banking app. The user-friendly tools also allow you to open a fixed or recurring deposit as a part of investment. With a 3-in-1 Savings Account, which includes a demat, trading and savings account, you can trade in commodities and shares, as well as invest in mutual funds.

The above features make the IDFC FIRST Bank mobile banking app one of the best apps available today.

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