How Mobile Apps Are Transforming Banking Sector

banking sector app development

Just a simple question to start with ? Which did you last visited the bank physically ? Most of you do not remember the same . It is the fact that as the technology is getting mobilised , so is the banking sector . We can do almost everything from the convenience of mobile app and that’s so in a very secured environment . Due to technology advancement in banking sector , presently we are able to experience hassle free banking experience .

With the technology advancement over time , even the banking app has been converted into easy to use mobile applications , in comparison with the bulkier version earlier . Due to this a person who does not even have a penny of experience of using mobile app , can easily carry on banking transaction through mobile app . Along with this , there are many other benefits of mobile app that have changed the way of doing banking for us and some of them have been elaborated below :

1) No Waiting In Queues

If you are one of those person whose day’s first task is to visit the bank for doing any of the transaction , then you must be thankful now for banking apps that have changed your life . You can perform the same task by clicking on few icons in banking mobile app .

2) Convenience To Consumer

All banks works during business hours , usually between 9:30 am to 5 pm , and that is the time most of us go to our offices . This radically means when you are suppose to visit banks for performing any of the transactions , by taking leave from your office that will obviously cost you more . But with the launching of mobile app , this scenarios has been completely replaced . Now in person can do transaction anytime and from anywhere in the world .

3) Immediate Transfer

Usually in India , it takes 3 working days for any cheque to get credited in bank account with is obviously time taking process . But thanks to banking app , it can be transferred within few second and that to from anywhere .

How Is technology Seeing This Shift In Banking Sector ?

A well deployed banking app development must have an awesome UI/UX design for their banking customer . Also security is one of the greatest concern while taking about the mobile app , so that custom can get peace of mind by using banking apps on their mobiles . Latest introduction of technology like BHIM app , UPI has improved the banking sector by joining in all the bank together and thus making transaction between different bank just a click away .

Introduction of latest emerging technologies like Big Data , AI , Blockchain , IOT has open the whole new door for banking sectors .

Banking which were earlier thinking of opening thousand of branches for the convenience of their customer is now more focusing of development of their website and mobile app . The advancement of technology is already created a virtual banks , and in newer future new physical bank brand would be a rarity .

Winklix.com is leading mobile app development company providing website and mobile app development solution across all industries .  We are also leading CRM and ERP software development company thus facilitating IT solution in simplified manner .

Secrets To UI/UX Design When Building An App

app ui design

When we are talking about building an app , entrepreneur always keeps an eye on the huge market app and play store is having to extract huge amount of business from it . In today’s world , wherein more than 2 millions apps are available in play store , and another 2 million app available in apple app store , there is no point to not to chase your app development project on the top of the best selling charts . When we are talking about the app , we must be focusing on customer centric approach . App must be designed by always keeping user in mind in order to give them enjoyable experience .

But this article is all about the UI / UX design so lets start with the secrets to UI / UX design that you should always keep back in your mind when building an app .

Adaptive UI & UX

For every user who are not technical might not be aware about responsive design . But what if we go beyond the technical approach and rather focuses on end user centric approach . Start typing petrol pump on google search and you will be noticing different result on the basis of your location , thereby showing petrol pumps nearby . In order words we can say app changes user interface and give user experience in order to enhance search result and thereby reducing the click to expose relevant content.

Push Notification Importance

According to recent studies it has been seen that push notification in app engages more user to return to app . I know it is fact that for some user it is very annoying , but when it comes to Facebook , Whatsapp , or News related app , people don’t even want to miss a single notification from that app.

The key is added value . So if you value your information on push notification , I bet you can manage to attract more user in your application , and will imply more increase in engagement of user .

Search Is King

Search is all about allowing the user to navigate in convenient way in app , and can easily find what they are searching for . Thus the best way to do that is giving user all the necessary tools that might be needed by the user including search filter , short things on the basis of criteria and so on .

First Impression Is Last Impression

User usually have the tendency to judge the app in the very first time they use the application . So always focus on first impression as it is the most critical one . Ensure will the app developers together with your own strategy that it gives an awesome experience to user in the very first run . User interactive guide to explain each and every thing about the app working will do a lot in successful of app .

Support Is Essential Part Of UX

Nothing is worse than the app crashes . But if a app crashes in such a way that user feel they have encountered glitch in matrix will help you overcome with a problem . Bugs are inevitable , then why not to make them a part of user experience ? Providing user with a possible reason for app failure together with a link to support page will help you gin trust

Conclusion

There is no point of getting scarred with user experience and interface design. All you need is innovative mind together with bit of common sense , and strict lines on the rules stated above .Feel free to contact Winklix here , who can help you turn your idea into amazing application .

How Much Does It Cost To Develop An App Like Paytm

paytm app development cost

About Paytm

Paytm is India’s largest online recharge company headquartered in Delhi , India wherein the company is owned by One97 communication .
Paytm.com at first started with mobile recharge only , which was later on extended to online shopping , Paytm marketplace , wallet and much more . Bus ticket booking , and payment of electricity bills and at the same time gaining cash back in wallet has helped paytm to step up the stairs of success . Since India is getting digitalise , the market demand of online recharge app , and app development companies are getting increased .

Cost of developing Paytm like mobile app :

Well is it really a difficult question !! The cost of developing any recharge mobile application depends on the features ,  the platforms on which you are planning to launch your app and so on . Some of the major factors which determine the cost of app is given below :

App Platform :

The cost varies from platform to platform .  The android app cost is always on higher part in comparison with iOS app , as android app required more written code along with testing on number of devices . In case you are looking of hybrid solution rather than native one , it might not be as successful as the native one . For more information on Hybrid Vs Native app , you can refer our article here .
App Design:
 
App design is crucial part , and the reason to succeed behind every app success . The app design should be made in such a may that is ensures smooth interaction with the user . Engaging and eye catchy design will always bring you repeated customer . Designing an app requires using advance technologies , material design and much more , which goes beyond the role of application developer , and obviously will burden your pocket but will worth it . The designing of the app will be requiring between 80 hours to 170 hours on an average basis .
Lets take on an average around 140 hours to design the complete app , in which :
  • Wireframe required 30 hours
  • User interface will take 50 hours
  • user experience will take around 60 hours .
App Functionalities :
 
When we are talking an app like paytm , it may not necessarily means app completely like paytm . You may want some additional features , and not the complete feature as present on Paytm . Frankly speaking , Paytm is not an app made within few months . The development of the Paytm app requires dozens of developers along with years to build the complete app with all functionalities . According to my opinion , if you are planning to have your own recharge application , start with the few features as required and later on after your app started gaining popularity , you can add on features and functionality in it.  App development and launching is not one time job , rather it is continuous process in order to retain customer and cope up with the competitive world . The app size can be reduced to giving preferences on only core values in version 1 of the app .
Depending on the feature , if you consider the basic functionality like mobile and other recharge together with basic commerce functionality will take somewhere around 390 hours to complete which includes backend development of admin cost and implementation the things with UI .

Third Party API’s Integration :

When it comes to development of the app like paytm , specially the recharge one – it all depends on third party api’s implementation. Where it is matter of online mobile recharge , or nth recharge or you want to book a movie or bus ticket , you have to be completely dependent on third parties API’s so that customer and service providing companies can directly gets connects while using your app platform . Third party api’s implementation  requires man-hours ranging between 200 hours – 400 hours depending on the api’s required by you . Also in third parties api’s , implementation hours also depends on how well the third party support to mobile app development company in implementing their api’s .
So the api’s implementation part will take on an average of 300 hours to implement the api’s .

Mobile Wallets :

Wallet act as a lifeline for any recharge app . Recharge app is nothing without a wallet .Mobile wallet app development and its integration requires additional hours depending on the requirement . When talking about paytm mobile wallet , it allows you to add money in wallet , send money to your friend , pay money to vendor , transferring the money to your bank account and much more .
The complete wallet functionality as present on paytm wallet will be costing 270 hours of man hours.
There are numerous other features and functionality that can impact the app cost estimate like push notification , news feed , geolocation  , sms gateway integration and so on .
So interested in knowing how much Winklix charges for Paytm like app development ? Get an instant quote , feel free to contact us at info@winklix.com or contact us by filling the form .
Winklix.com is leading mobile app developer and game app development company serving worldwide .