How to get the best out of a mobile banking app?

The use of financial technology or fintech has helped reshape the banking industry. With the pandemic disrupting money transactions, banks are forced to leverage the power of mobile banking applications to reach their services to customers. The increasing use of smartphones has further helped people limit their physical accessibility to banks.

Most banks help their customers access all the services on the digital banking apps, which are designed to have unique features. The integration of banking apps has tremendously transformed the banking sector by making transactions digital and ultrafast. IDFC FIRST Bank helps you do mobile internet banking on its unique app that offers valuable features. Here are some distinctive ones that help you make the best use of a mobile app.

• Open a savings account

IDFC FIRST Bank enables its customers to open an online bank account by undergoing the electronic know-your-customer (KYC) process on the money bank app. By providing your full name, email address, mobile number, and location on the app, you are initiated into online account opening. You are also required to provide your date of birth, residential address, PAN and Aadhaar Card details, and employment status, and upload the scanned copies of PAN Card and Aadhaar Card for verification.

IDFC FIRST Bank will conduct the eKYC verification before activating your savings account. For a savings account with more than a minimum balance, you will become eligible for several benefits like free fund transfers, competitive interest, free vouchers, and unlimited ATM withdrawals.

• Cashless money transfer

You can be a user of one of the best mobile banking apps with IDFC FIRST Bank. The mobile banking app is safe to conduct cashless payments or fund transfers through any of the payment methods such as NEFT, RTGS, and IMPS. All you need to do is to add the beneficiary’s name. If you are using the UPI BHIM app, you need to create a UPI address. Through the net bank login, you can check the balances and manage all your bank accounts from one platform.

• Make investments

With a mobile internet banking facility, you can do financial planning. IDFC FIRST Bank’s mobile app can help you with complex calculations using data analytics. This makes it easy to invest in your desirable securities or bonds. Moreover, a mobile bank app also offers you tools to categorize and analyse your monthly expenses to help you budget effectively.

The income and expenses analyser on the app offers suggestions to use your excess money in the savings accounts for investments in mutual funds, gold bonds, and equity. You can also put in some deposit schemes or unit-linked insurance plans.

• Notifications

The IDFC FIRST Bank mobile app offers 24/7 accessibility to most banking services. You can carry out transactions anytime, anywhere without having to visit the bank’s branch. The app keeps you updated by sending notifications of any payments made or funds received. Furthermore, it also alerts you if there is any unauthorized access to your account by someone. For payments, you can set up reminders or AutoPay for any recurring bills due.

• Excellent customer support

With its multi-featured app, IDFC FIRST Bank offers personalised banking services to customers. You can easily access the technical team through email, phone, or chat if there are any issues. The use of artificial intelligence (AI) enables you to get answers to your queries through AI Chatbots.

You can use the above features on the IDFC FIRST Bank mobile banking app for a seamless banking experience.