Mobile banking application development
Itransition’s overview
25+ years of experience in providing app development services
300+ successful mobile app development projects
ISO 9001 and ISO 27001 certifications proving our mature approach to quality and security management
In-house Mobility Center of Excellence
Mobile banking app features we deliver
We develop mobile banking applications with comprehensive feature sets tailored to financial institutions’ business requirements and user needs.
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Account management
We implement mobile functionalities that help users conveniently manage personal and corporate bank accounts without visiting the bank.
- Managing a bank account
- Account balances and account statements monitoring
- Payment card management
- Transaction history tracking
- Self-service KYC capabilities
Transaction management
We deliver online banking application features to help customers effectively manage their cash inflows and outflows.
- Digital transactions management, including peer-to-peer transfers and bill payments
- Payment templates
- Transaction alerts
- Mobile wallets integration
- QR-code payments enablement
- NFC-based contactless payments enablement
Loan management
Our development team equips mobile banking apps with lending features to streamline loan management and let users apply for funds quickly and conveniently.
- Personal and business loan application management
- Interest rate calculation and comparison
- Credit analysis mechanism
- Algorithmic loan approval
- Online loan repayments, including automated payments
- Push notifications for due and late payments
Deposit management
We implement comprehensive functionality to help end-users manage their deposit accounts and get full visibility into their funds.
- Deposit option selection and opening a deposit account
- Automated funds transfer to a deposit account
- Deposit information consolidation, including the savings sum and bank interest paid
- Funds withdrawal enablement
- Account closure
Personal finance management
We enhance your mobile banking app with capabilities that help users gain detailed insights into their financial activities and manage their money wisely.
- Expenses categorization and visualization
- Budget planning and analysis
- Savings goal-setting
- Personalized financial recommendations generation
- Personalized personal expense reporting
Client assistance
Our team equips your mobile banking app with versatile client assistance and self-service features to help users resolve their issues 24/7, allowing you to cut operational expenses for client support and improve customer satisfaction.
- Virtual assistants and chatbots
- Online chats with customer support agents
- Knowledge bases containing self-help articles and FAQs
Security
We implement solid mobile banking security measures to protect banking apps from cyberattacks, unauthorized access, fraudulent activities, and data leakage.
- Data encryption
- Multi-factor authentication
- Biometric verification
- One-time password generation
- Transaction authentication number (TAN) sending
- Security alerts for users and bank representatives in case of suspicious activities
Need a reliable mobile banking app?
Financial institutions that we build mobile apps for
We develop comprehensive mobile apps considering the individual business specifics of each financial institution.
Retail banks
Our mobile apps for retail banks are designed to fully support users’ daily finance management needs and eliminate in-person bank visits.
Sample features we implement for retail banks:
- Money transfer by phone number
- Online currency exchange and currency converter
- Mobile check scanning and deposit
- Online application for a checkbook
- Access to bank loyalty and rewards programs
- GPS-based ATM or bank branch search
- Shared family accounts and collaborative budgeting
- Financial literacy education features
Corporate banks
We build convenient mobile apps that help corporate banks’ business customers manage their company accounts and finances on the go.
Sample features we implement for corporate banks:
- Review and approval of pending corporate transfers (own, local, or international)
- Recurring and bulk payments
- Salary upload, payment tracking, and management
- Automated tax calculation
- Business loans management
- Business and market research newsfeeds
Investment banks
Targeted at individual investors, financial advisors, and investment companies, our mobile banking apps provide capabilities for stock and asset management and investment risk assessment.
Sample features we implement for investment banks:
- Investment portfolio goal-setting and configuration
- Asset price monitoring
- Market news aggregation
- Market trend prediction
- Investment portfolio optimization
- Investment strategies backtesting
- Algorithmic trading of physical and digital assets
- Capital gains tax calculator
Client spotlight
Itransition team members joined Tilta to speed up the MVP release. They participated in our day-to-day operations and development, as well as some more strategic events consulting us about software architecture, comparing and choosing external libraries, and building third-party integrations. Thanks to the efforts of our joint team, we were able to build the product MVP, including compliance measures, payments integration and reporting — in less than 6 months[…]Involving Itransition, also helped us save on team expenses, which is critical in the first year of our company life.
Itransition helped organize Scrum processes across existing Revolv3 resources as well as Itransition engineers. Our Itransition Scrum Master was so effective that we started using them to manage the Scrum process overall as we scaled additional engineering teams[...]Our current relationship with Itransition allows Revolv3 to scale faster than before, with higher quality work, better documentation, and excellent Scrum processes. Moreover, Itransition's specialists are dedicated to the role and hungry to understand the vision of the company/product to deliver on the roadmap. They have gone above and beyond the job description to recommend updates to our tech stack to make a more manageable environment.
Our services
Mobile banking app development
Based on a thorough business needs and project requirements exploration and analysis, we build unique native and cross-platform mobile applications that provide comprehensive banking capabilities and smooth user experiences.
Mobile banking app consulting
We provide comprehensive advisory services for companies that plan to implement mobile banking apps. Our IT consultants assess the needs of your financial institutions and help translate them into a clear action plan that includes a project roadmap, application requirements, and technical design. Throughout the project, our team can provide advisory services and guidance, ensuring successful app delivery and adoption.
Modernization of mobile banking apps
If you need to revamp an outdated mobile banking app, we can audit your solution, detect areas for improvement, and help conceptualize, plan, and deliver the mobile banking app changes, including new features, user experience and user interface elements, or integrations.
Mobile banking success stories we contributed to
Faster
funds transfer
Mobile app for dual-card payments
Itransition’s team delivered a mobile dual-card banking application integrated with a salary/remittance solution that allows users to manage their accounts, check card transaction history, transfer funds, and make digital payments.
$20+ bn
managed by users
Mobile apps for stock management
Itransition developed a user-friendly Xamarin-based mobile application as a part of an investment portfolio management ecosystem to complement the core web platform. The cross-platform banking application helps monitor the equities of users’ favorite companies, follow their updates, and understand the global financial market state based on the latest news.
Entrust your mobile banking app to an experienced tech partner
Advanced technologies for mobile banking
Itransition can develop custom blockchain-based banking apps or integrate blockchain-powered features into your mobile banking software to improve operations security and transparency.
Cryptocurrency wallet
We design and develop mobile digital wallet solutions for your customers to store and manage cryptocurrency, swiftly convert it into other currencies, and make secure online payments.
P2P lending
We develop smart contract protocols and build decentralized mobile social lending platforms that connect borrowers with lenders directly. The apps allow them to enter into loan agreements and transfer cryptocurrency without the involvement of a financial institution.
AI & ML
Our data science engineers build and train bespoke AI and ML models and implement them into mobile banking apps, enhancing them with value-adding capabilities.
Predictive analytics
We implement AI-powered analytics features to analyze the state of the stock market or investment profitability and predict potential risks and outcomes of financial operations. Leveraging vast historical data sets, the latest business and political news, and research papers, ML models can paint an unbiased picture of upcoming market events and help make smart financial decisions.
Compliance management & fraud detection
We implement ML features that facilitate compliance operations, like know your customer (KYC) procedures, verifying user identity, and detecting inconsistencies in their information. We can also apply machine learning models to sift through mobile transactions, accurately identify suspicious or abnormal activity patterns in real time, and automatically put questionable financial operations on hold.
Personalized recommendations
We power banking apps with ML engines that interpret real-time and historical data on user behavior. Based on data analysis, the engine shares personalized product and service recommendations and tailors in-app advertising to match user preferences.
Elevated customer experience
Our engineers build voice-first interfaces, allowing users to manage their accounts and complete financial transactions with voice commands and use voice for biometric authentication. Additionally, we can implement intelligent chatbots to handle routine customer support requests and provide in-depth investment planning recommendations.
Our approach to mobile banking app security
Itransition prioritizes cybersecurity when building mobile banking solutions and makes applications safe and compliant by design.
Secure app design
Itransition considers mobile banking app security from the software planning stage, outlining the required security safeguards that should be implemented. Our engineers equip mobile banking applications with an array of security mechanisms to make financial software resistant to existing and emerging threats.
Security testing
When developing or modernizing a mobile banking app, our security engineers conduct a thorough analysis of the app's protection mechanisms and the safety of financial and user data handling. We root out any security faults, offer appropriate fixes, simulate hacking attacks to validate protection mechanisms, and address detected vulnerabilities.
Regulatory compliance
Depending on the banking company’s location and target audience, we equip mobile applications with relevant mechanisms to ensure their full compliance with the regional data privacy and security regulations, like GDPR, PCI DSS, FTC Act, PIPEDA, and others.
Our technology stack
Our experts choose a solid tech stack based on the app’s functionality, scalability, security, and flexibility requirements.
Core mobile technologies
iOS
Languages
- Swift
- Objective C
Frameworks
- Cocoa
- Cocoa Touch
- Combine
- Swift Package ManagerI
- OpenTok SDK
- SwiftInject
- ARKit
- Combine
- Swift UI
- iOS SDK
- OpenTok SDK
- Twillio SDK
- Stripe SDK
- BLE Api
- NFC Api
Android
Languages
- Java
- Kotlin
Frameworks
- Android SDK
- Jetpack Compose
- OpenTok SDK
- Twillio SDK
- ARCore
- Stripe SDK
- NFC Api
- Dagger 2
- BLE Api
- Koin
- etc.
Cross-platform apps
Languages
- Kotlin
- Swift
- Objective C
- TypeScript
- Java
- C#
- Dart
Frameworks
- React Native
- Flutter
- Xamarin
- etc.
Kotlin multiplatform apps
Languages
- Kotlin
- Swift
- Objective C
- Java
Frameworks
- Kotlin Multi-platform Mobile SDK
Other technologies we use
Back end
- NET
- Python
- Node.js
- PHP
- Java
Data storage
SQL
- Microsoft SQL Server
- MySQL
- Azure SQL database
- Oracle
- PostgreSQL
NoSQL
- Apache Cassandra
- Apache Hive
- Apache Nifi
- MongoDB
- CouchDB
Cloud
AWS
- Amazon S3
- Amazon Redshift
- Amazon DynamoDB
- Amazon documentDB
- Amazon RDS
- AWS elasticache
Azure
- Azure Data Lake
- Azure Blob Storage
- Azure Cosmos DB
- Azure Synapse Analytics
- Azure Kinect DK
- Azure RTOS
DevOps
Containerization
- Docker
- Kubernetes
- Openshift
- Mesos
Automation
- Ansible
- Puppet
- Chef
- Saltstack
- Terraform
- Parker
CI/CD tools
- AWS Developer Tools
- Azure DevOps
- Google Developer Tools
- Jenkins
Payment gateways
- Paypal
- Skrill
- Braintree
- WePay
- Stripe
- AmazonPay
- Authorize.Net
- BluePay
- 2Checkout
- BlueSnap
Implementation roadmap
We create a tailored app development process roadmap depending on your project’s specifics. Here, we present a sample project plan we use for mobile banking development projects.
1
Discovery
App requirements gathering
Business needs analysis
Stakeholder interviews
Market analysis
2
Design & planning
App architecture design
Feature planning
Tech stack selection
Project planning
3
Development
Mobile banking app PoC delivery if required
UI/UX design
Development of a mobile app
Integration with corporate banking systems and third-party services & solutions
4
Testing
Mobile banking application testing
Continuous security testing
Compliance verification
5
Roll out
Application deployment
Publishing the app to marketplaces
6
On-demand support
User training
App performance, security, and stability monitoring
Software maintenance and fixing issues that may arise
L1, L2, and L3 support
Other BFSI solutions we develop
Banking software development
We design and develop a full scope of custom and platform-based banking solutions, helping financial institutions automate and streamline their primary operations, provide a wide range of banking services, and support interactions with future and existing clients and partners.
Banking CRM
We deliver banking CRM solutions to help aggregate lead and customer data and track interactions with them to facilitate marketing, sales, and service operations and provide more personalized services and financial products.
Stock trading software development
We build trading and investment management solutions for private and institutional investors to help assess their stock portfolios and risks, make informed trading decisions, and automate stock trading operations.
Financial data analytics
We deliver financial analytics solutions to process large datasets and generate reliable insights into market trends, customer behavior, and business performance and help manage financial risks and prevent fraud.
Accounting software development
We deliver custom and platform-based accounting software to help companies optimize billing, invoicing, payroll, tax management, accounts payable and receivable, and bank reconciliation.
Wealth management software
We create full-fledged wealth management systems for advisory firms and individual investors to help end-users manage their asset portfolios, fine-tune their investment strategies, lower potential risks, and boost profits.
FAQ
What benefits will my company get from implementing a mobile banking app?
With a mobile app, a financial institution can automate banking operations, improve client experience and service accessibility, retain their customers with tailored offers, and enhance customer satisfaction. According to McKinsey, customers who regularly use a banking mobile app and/or website have the highest average satisfaction rate compared to those who don’t use digital banking channels often.
What can influence the costs of a mobile banking project?
First of all, the project cost depends on what operating systems your company wants to provide solutions for— iOS, Android, or both. In the latter case, developing two native mobile apps may increase expenses compared to developing a cross-platform app. Secondly, the desired functionality will also significantly influence the final costs. For example, a simple credit card management app will cost less than an investment management software with predictive analytics capabilities. Lastly, unique UI design and compliance with specific performance and compliance requirements can also increase a banking app’s costs.
Service
Financial software development services and solutions
Build a robust fintech software solution according to your business needs. Choose a trustworthy software development company as your tech partner.
Service
Banking software development
Itransition helps financial institutions drive business growth with a wide range of banking software solutions. Book your consultation.
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