Top 5 Trends of Mobile Banking App Development in 2021

 
Mobile app development is a challenging job to perform but when it comes to banking app development, it needs to implement proper security & latest market trends. Cyber-security, online payment solutions with proper authentication must be integrated seamlessly for a mobile app to be both functional and competitive.

With evolving technology, banking sector witnessed mobile app integration. Currently, users prefer apps to manage finances over traditional banking hassles. As per stats, over 70% users prefer mobile banking and using them regularly.

Banking apps have reduced long queues and operation time in banks. Now, customers execute almost every task with a tap on their smartphone. Thus, the future of mobile banking app development looks brighter. You will see mobile banking trends have become a necessity to integrate. If you are planning to build a financial app, check these important trends in this blog!

Latest Cutting-edge Trends in Mobile Banking

1. Voice Payment

The future of payment is voice-activated services. Voice-activated commands are the ever-growing mobile banking trends and engaging global consumers. Smartphone, computer, TV, even home appliances can take voice commands, then why not banking services? The voice command feature assures User Comfort and Security. Many banks already offering voice recognition features for two-way authentication. Several banks allowing customers to conduct money transfers with a voice command.

2. Big Data

Big data is the infrastructure on which the future of banking is based. The more insights you have about your clients, the better you can serve them with relevant security. As banks grow their revenue and expand services, chances of facing security risk or fraud is high. By the end of 2021, fraud losses on credit, debit, and prepaid cards will surpass $10 billion.

Big Data is an important technological advancement in mobile banking app development when it comes to safeguarding resources and protecting customers’ identity. The use of big data helps to address risk assessment process and provide streamlined customer experience.

3. Chatbots

Chatbots is the perfect means to deliver a personalized user experience. Artificial Intelligence powers bots to simulate human interaction. Chatbots can be integrated within the app to address Customer queries & doubts. The bank consumers get consistent support, 24/7. The level of expertise that Chatbots offers is out of this world, from solving issues and immediate response to inquiries, and even advice on personal finances.

Another benefit of using automated Chatbots is to help banks analyze their operations success by measuring customer satisfaction. The system is integrated with multiple tools to rate their conversation to study how useful it is and where it can be improved.

4. Cardless ATM Withdrawal

No one like queuing at an ATM to withdraw money. To deal with restlessness of customers at ATMs, banks have provided cardless ATM withdrawals service. The benefit of this mobile banking trend is its speed, convenience, and security against card fraud.

Money withdrawal without cards is not a new concept, but this feature is not present with every banks and financial institution. But, this trend is just catching up with banking app developer this year. This Cardless ATM withdrawal conveniently makes banking task simple and streamlined.

5. Blockchain

When we analyze the features of Blockchain, it makes relevant sense that the banking industry will surely adopt this technology. The banks sole objective is to connect groups of people and boost trade and commerce between them. Blockchain is perfect to accomplish this task while keeping it secure and transparent. By establishing a decentralized channel, banking apps use this technology to facilitate faster payments as well lowering the processing fees.

By introducing service with higher security and lower processing fee, banks can engage potential audience. Banks are exploring the ways to use Blockchain to enhance the digital security of their bank.

Wrapping Up

These are the top trends in banking app development that will be most in demand in 2021. If you are searching for the best technological upgrades for your customers, then reach out to a professional Mobile banking app developer to make the most of these banking trends. The team of developers will provide all solutions needed for engaging app development.

What is the difference between Flutter 1 and Flutter 2?

 

During a brief time (December 2018 till today), Flutter 1 did win many battles in terms of reduced code Flutter App Development Services time, rendering engine, shorter time to market, and more.

Alongside, there have been some glitches too that surfaced within the history of flutter, which caused the arrival of Flutter 2. All thanks to Google for releasing Flutter 2 at a web event. Flutter 2 is the whole new thing that Flutters 1 lacks, and a huge Flutter network can swear by the fact.

Flutter app performance nevertheless has a little room for Flutter App Development Services, which is delivered by Flutter 2. Despite everything, developers ultimately can reduce their efforts on writing one-of-a-kind codes for various operating systems. Flutter 2 allows users to write down equal code in Linux, macOS, Windows, Android, and iOS.

What’s New in Flutter 2?

New targets

One of the effects of the Flutter GUI architecture is that the result should, in theory at the least, be generated in other codecs, creating other subclasses of RenderObject.

Google took it seriously and now we have the subsequent goals for your flutter app improvement:

●     Mobile

iOS

Android

●     Computing device

Linux

macOS

Windows

●     Web

The computer variations are nevertheless quite easy, however, there are already organizations like Canonical and Microsoft working hard on it.

We have a hope that the flutter 2.0 update replaces the horror that is Electron and we no longer need 8 Gb to open a text editor.

Flutter Web: trigger

Unlike before, while you create a task in Flutter, it creates two objectives, iOS, and Android. Now you may add one more, the web.

Regrettably, what Google calls stable is what we call “lacking a boil.” The dimensions of the resulting app are disproportionate and the performance nonetheless leaves it to be desired.

Flutter Embedded: The Last Frontier

Another target, which isn't available to everyone, however, which is very exciting, is that of embedded, or embedded tools. Have you ever thought about how your automobile software interfaces are made?

This is one of every of the biggest embedded tool markets, and C++ and QT reign right here. So far, the global’s largest automaker has jumped on the Flutter and Dart bandwagon: Toyota. Moreover, the software program with which the driving force and passengers interact might be created with Flutter and Dart.

In this sense, the brand new Dart FFI package deal is very welcome, which presents a brand new synchronous and easy mechanism for interacting with C code.

That is high-quality news for every mobile developer because it opens the door to an entire marketplace of devices with characteristics much like mobiles, however, which until now used a completely different stack.

Flutter desktop

Here the main protagonist has been Canonical, the author of Ubuntu. It has decided to bet the whole thing on Flutter because it is the default device for Flutter App Development desktop packages in Ubuntu. It's contributing to the Flutter repo, focusing on multi-window assist, and is rewriting the Ubuntu installer in Flutter.

This is incredible information that fills every developer with a desire that we can be rid of the Electron curse. Moreover, Microsoft is likewise participating to better combine it into the Windows environment.

We think that Flutter has more feel and future on the desktop than on the web, due to its characteristics and JavaScript.

Conclusion

It is very likely that Google has created the best product at the proper time and that we've an terrific tool for cross-platform Mobile App Development Company. The reality of delegating a part of the burden of the development of non-mobile objectives to different businesses is ideal news, given that there are still things to enhance within the middle of the platform. As an example, it might no longer harm to study what Apple has carried out with SwiftUI, which has accomplished more simplicity for the developer.

State control is also something that has to be urgently improved with a simple and effective solution, which has the formal assistance of Google.