Virtual Reality

The rampant usage of mobile devices has brought a shift in the way we perceive technology. Today, we do not use mobile devices just for calling or messaging. Advanced technological software and tools have expanded the scope of applications of mobile devices by manifold. From social media access to business work, mobile devices are the easiest fit for all. 

With mobile banking platforms, you no longer need to use the desktop to carry out banking operations. However, the following is a list of 10 key functions that are a must in mobile banking platform to serve the users better:

1. Simple & user-friendly interface

A mobile banking platform is expected to offer a simple and user-friendly interface. If a bank uses too many fragmented features, then users are forced to make efforts to find the required feature. This often leads to poor navigation. Therefore, a mobile app must provide a search function and smart shortcuts for simpler and effortless navigation.  

2. Protection with advanced security

As mobile banking has sensitive data, customers would expect the required security against hacking and cyber-attacks. Thus, a mobile banking platform must offer the best protection facilitated by advanced safety features.

To ensure security with mobile banking platforms, the sign-in process must be easy and secure. Each step involved in the sign-in process must be secured so that user can have a peaceful experience while using the platform.

3. Personalized management of money solutions

Personalized many management is one of the best features that a mobile banking app is expected to have. With this feature in place, mobile banking can provide its users with an improved insight into banking. The powerful tool enabled by the machine learning capabilities helps users categorize the spending and even offers insights into cash flow analysis.

4. Offer core-banking feature

A mobile banking platform should offer the following core banking features: 

  • Deposits and withdrawals
  • Interest rate calculation
  • Introductions to new financial products
  • Record maintenance
  • Loan management
  • Customer relationship management (CRM)

5. Approachable customer service options

The best mobile banking platform is one that offers efficient customer service. Customers should seek assistance through various channels such as phone, live chat or virtual assistance, bot etc. The chatbots should also support voice communication along with text communication.

6. QR code payments

Though the payment through QR codes is in its nascent stage, it already started gaining significant popularity. A mobile banking software should also avail this feature for payments. QR code is the easiest and quickest payment options that improve customer experience vastly.

7. ATM locator

This very useful feature can help people who have been travelling to a new place where they cannot find nearby ATM easily. This feature uses Virtual Reality technology to let people find the nearest branch or the ATM. It can save a lot of their time and efforts. 

8. Mobile check deposits

This feature provides the digital image scanning of the cheque done. Moreover, the deposit details provided are accessible to users within some time. It gives quick results and saves a lot of their time.

9. P2P payment interface

The mobile banking app can offer smoother integration with the P2P interface. For instance, the chase app provides different phone numbers, and emails are integrated with the single Zelle contact.

10. Mobile wallet and digital payment options

Mobile wallets and digital payment options are a must-have for all mobile banking platforms. They facilitate convenient and faster mobile payments.

For example, O-Wallet is a mobile wallet application brought up by ONPASSIVE that provides secured and hassle-free access to online transactions.


While almost every aspect of our life is being digitized in some way or the other, digital banking solutions are not surprising anymore in such an environment. However, a mobile banking platform should be an interface that fulfills all of the users’ banking requirements at the reach of their fingertips. This article described ten key features that a mobile banking platform must have. These ten features are necessary to offer users with effortless and convinient banking experience over their mobile devices.