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Mobile Banking App Development – Access Banking Services with Élan

Mobile application development is on a roll as the demand for mobile phones keeps on increasing day-by-day. Smartphones and apps are highly inseparable, and imagining a life having a smartphone without apps can be a nightmare to many. A recent study reports that 77% developers are into app development process for Android and IOS mobiles. It is believed that the remaining 23% develop Windows apps. It is apparent from the above reports that mobile app development is moving to the next level as the demand for developing the apps is constantly increasing.

In recent years, mobile apps not only facilitate individuals but also play a perfect foil in the enhancement of most sectors like automobiles, industries, startups, ecommerce, publishing and printing, banking, etc. Especially, mobile application development is a boon for banks and customers accessing their services. Technology advancement without flaws is highly impossible; even mobile banking apps carry some risks which could delimit their performances. So then, how does one overcome these hurdles to relish the fullest benefit of these apps? Continue reading this article to find out.

Mobile banking risks and solutions:

mobile banking services

Today, most retail banks are turning towards mobile banking to ease the process of customers’ access to banking services. Moving forward, most banks like Barclay, Axis, HDFC, etc. are focusing on helping the customers with proprietary apps for personalizing the customer banking experience. There are tons of positive points on implementing the apps on mobiles for payment transactions and checking balance. However, one can’t rule out the negative points as well. Indeed, mobile banking has some serious setbacks which could prove fatal for customers as there are chances that their accounts may get drained easily by hackers. Let’s discuss the cons of this emerging technology.

Risk 1:

Data Storage: If the entire details about the payment transactions, username, passwords, account numbers, histories are stored on your mobile app, the data can be looted easily by online hackers whenever you lose your phone or someone steals it. Similarly, e-mails and text messages related to account numbers or passwords can be easily retrieved by hackers once you lose them as well. This is a crucial setback that could easily drain the accounts of most users.

Solution: Most often poorly built apps with ambiguous options force customers to make mistakes. Simple mistakes arising due to lack of basic security structures can help hackers steal the information of the users with ease. So, the banks or mobile app development company creating apps have to focus high on the usability, clean, and easy to use nature of the apps next to the perfect confirmation dialogs, clear text, and big buttons when accessing the app. In short, the developers must build an app with impeccable security measures.

Risk 2:

Wi-Fi Data Transfer: Most often, users connecting with the banks through wireless network which is unsecured or public fall victims to hackers. It is walk in the park for hackers, as they can easily intercept and steal the required data without any hassles and bustles. However, most users fail to reckon this and as a result find their accounts drained after a short period of time.

Solution: The apps should be developed by banks in such a way that the data shouldn’t get stored in the app or its underlying structures. The basic security structures have to be impeccable and shouldn’t allow any third party users to intervene and steal information easily. Besides convenient, the app must also comprise credibility to prevent user data during data transmission.

Risk 3:

Herein, I’ve mentioned to pick the best applications, however, not based on their features but on security measures. Apps built for money-making without considering the customer benefits in mind can never be a great choice as it is easy to harvest information from them. So, don’t go for any application which doesn’t comprise SSL certification. Be it an iPhone app or Android app, without SSL, your data transfer may be under threat.

Go for an app that comes up with SSL certification and basic security measures. This could really bolster the performance of your app and ascertain safety while transferring data as well. It is quite hard to steal information when encrypted and it happens only when your app comprises SSL. So, go for the right app to relish accessing the banking services.

Most mobile development companies are realizing the above-mentioned risks and have started applying the below-mentioned solutions to help their customers enjoy a perfect mobile banking service. On fixing the security backslides, the mobile banking can increase at a faster pace to address the financial transactions of the customers with élan.

Written By

I'm Maria Lynette, author of this article. I'm interesting in writing articles on mobile applications. Previously I have written few articles on mobile application development. I'm planning to write new trendy mobile aspects on my future articles. Please follow me on Twitter, Linkedin, Google+ .



  1. Sudipto

    May 2, 2013 at 11:33 am

    Hey Maria,
    Nice post and Thanks for sharing this post with us. Mobile banking is good way for banking as it saves lots of time and easy to use but Yes, there are some risk also attached with mobile banking.

  2. Mahendra

    May 3, 2013 at 2:14 pm

    Hello Maria
    Nice informative post.Mobile banking is a way which saved you from doing lots of work in going to bank and cash withdraw places like ATM centers.Thanks for sharing this awesome post.

  3. Maria Lynette

    May 6, 2013 at 7:29 am

    Thanks all. Even though there are some risk in using mobile banking, it saves our time and helps in completing our work effectively and efficiently.

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