All About Developing a Secure Mobile Banking App in 2021
Published: 2022-05-20 04:33:52

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title: All About Developing a Secure Mobile Banking App in 2021
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date: 2022-05-06 06:34:25 UTC
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canonical_url: https://www.terasoltechnologies.com/blog/develop-secure-mobile-banking-app
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The technical world is moving at a high speed, we need to keep the match. Everything is on the Internet today; therefore we need to develop reliable and secure measures to keep the highly sensitive data that is our bank details safe from any hacking or leaking. That is we need to make use of the developing technology, to build a reliable and secure [mobile banking app](https://www.terasoltechnologies.com/banking-and-finance) that can provide an excellent and safe experience to your customers.

Making sensible information safe from the clutches of cyber attackers without compromising on speed and quality. As the mobile is becoming the controller of the market, the customer’s financial figures too should be at their fingertips. Thus, we know that banking service has moved from physical branches to mobile screens and desktops.

Transform your business with [our banking and financial services](https://www.terasoltechnologies.com/banking-and-finance).

The Need To Have A Good Secure Mobile Banking App:

Before developing or creating any kind of apps, we should know the expectations of our customers and what do they need in their apps to make them helpful and convenient for their use. Therefore, we need to apply all those expectations and needs while developing a secure mobile banking app. Basic [mobile banking applications](https://www.terasoltechnologies.com/banking-and-finance) should have the following features:

Balance checking option
Money Transfer option.
Easy payments
Reviews Transaction history.
User Profile
Notifications
Customer support and FAQ

## Geo-location facilities.
These are the basic needs of a mobile banking app. As the customers would be from a wide range of backgrounds the app doesn’t need to be overloaded with complicated functions and stuff. You need to design it as simple as possible so that it can be used easily by everyone. It is necessary to keep a few things in mind:

Decide all the features you are going to put in.
Choose between what is important and what is not
Create a priority list.
Understanding your customer.
Provide shortcut keys for important functions
Include different types of gestures; swipe, pinch, rotate etc.
Minimalistic key functions are must.

## The Security should be on Top:      

The purpose of designing the mobile banking app with custom mobile app development services is to make things easier and convenient for our customers. Therefore, security should be on the top of the priority list as we need to win the trust of our customers by providing them with the best services, which are both secure and reliable. Banking apps contain the most sensitive information of the user, like their credit cards and all the bank account details, and all of this is their utmost confidential details.

They are highly concerned while sharing any of this information with the apps, for making them believe in you needs to provide them with the most secure mobile banking app that cannot be hacked easily. For developing this kind of security feature you need to follow some steps:

It is always better to test your products by yourself before selling them to anyone else. The same applies here. It is always highly recommended to double check all the terms and conditions of your app's security, and it should be ensured that they keep up a strict vigilance and pick up control over how the mobile app is working over different networks.
You should thoroughly examine the configuration of the application servers. You need to make sure that all the mails sent are in the Spam category and have been tagged as phishing emails and are not forwarded to the mobile devices.
It is very necessary to use the latest technology and trend while you are developing the app. Also, makeup gradation in your banking apps whenever a new technology kicks in. Send notifications regarding this to your users, and help them in remaining up to date with things.
You should keep your password entering the criteria as strong as possible. Make it mandatory for all your users to formulate a strong password. You can make the criteria that the password created should have certain symbols, numbers and letters of both small and large caps. That helps to prevent any illegal hacking in your banking app. Also, make your customer aware of this by adding this point in your home page while they log in.
Keep your customers aware of the frauds and illegal things that are happening with the banking apps users. You can do this through sending them regular emails or messages, telling them to be aware of any kind of fraud calls, or emails that are giving them any kind of rewards or fake prizes by asking the user to share their bank details with them.
## The Cost of the Developing a Banking App:     
There are various factors that decide the development cost of mobile banking app:

Platform
Number of features
App design
The security infused
The kind of technology used
Outsourcing
The world’s leading banks spend approximately $132,000 on the development of mobile banking app. Though a middle-sized outsourcing company would charge you $40,000 to $60,000 giving you the maximum benefits at a very reasonable price. Usually, mobile banking app development cost depends on the developer's salaries and the number of working hours needed to complete the project.

Having proper security onboard mobile banking applications may be highly profitable. However, while the development of the banking app the thing is not only about money it also lies with trust. A secure mobile banking app can serve as your best product for customer acquisition. The development cost differs from nation to nation and the [custom mobile app development services](https://www.terasoltechnologies.com/mobile-app-development) you choose for your app development.

## Things you should make your Customer Know:
They should avoid saving the login information.
If possible they should use facial recognition and fingerprints to log in
They should never use public Wi-Fi while doing any of the banking work on their phone.
They should obtain a software that automatically erases data on a stolen device
Once, you are done with all these things, you are good to go.

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## Do you have a dream of a custom mobile app for your business? Assuming this is the case, our [software development company](https://www.terasoltechnologies.com/) would love to find out about new thoughts for mobile applications for organizations.