5 uses of an online banking app you can never ignore

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Mobile technologies have made the banking sector more and more technology savvy. The number of smartphone users is increasing steadily with the penetration rate of 54 percent. There are more than 500 million people using smartphones in India in 2019, and it is expected to reach 750 million in 2021. The increasing use of a mobile phone has led to increase in the use of a mobile app. TheIDFC FIRST Bank Mobile Banking app is designed to offer several benefits. Some of the prominent ones are:

Helps manage your account easily

By using the IDFC FIRST Bank mobile banking app, you can access and manage your bank account effectively. It allows you to link your bank accounts with different banks on a single account balance check appand check the account balances all in one place. The app is built to support easy management of savings or current accounts with other banks and financial institutions by transferring money between different accounts. You can also make payments from any of your savings accounts to your customers, friends and family members easily.

Helps acquire instant personal loans

With an online bank account app, you can now realize your dream of visiting a country, renovating your home, getting married, and more. Other than these, you may also have a medical emergency, where you need urgent funds to meet the hospitalization and other medical expenses. A banking app assists you in applying an instant personal loan online, without visiting your bank’s branch office. The complete paperless application process makes it easy to apply for and receive a collateral-free instant loan. All you have to do is to fill out an application and submit it with essential documents for quick approval.

Offers investment options

One of the significant aspects of the best banking app is it offers you to invest money in equity or mutual funds through a personal finance app. You don’t need a separate platform to manage your money; instead, the mobile banking app helps you open a 3-in-1 trading account, which is a combination of Demat, trading and savings bank account.

Using the modern Kite trading platform, you can also trade in currencies and commodities, and have free and seamless transfers from the bank to your trading account.

Helps get personalized notifications

A mobile personal banking app helps connect with your personal financial goals through text alerts, which remind you the due date of the insurance premium, subscription, etc. Through these notifications, you also know what is going on in your bank accounts. For instance, the new deposits, bank charges, interest or dividend credited, and so on. You can also check account statement and check all transactions.

Provides high security

When it comes to using the Internet, there is a huge risk of cyber thefts, which is a cause for concern for any banking app user. With a safe and reliable mobile banking app, you can securely sign-in through multi-factor authentication. Moreover, the biometric authentication helps conduct verification by checking physical metrics.

All the benefits explained above make the IDFC FIRST Bank Mobile Banking App one of the significant apps in the market.

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