Technology

Mobile Banking: Why do you need it in 2022?

Mobile technology has a significant impact on every industrial sector, including banking. The speed and convenience at which a banking app can help complete financial transactions have attracted people, especially millennials. Other than the basic banking tasks, a net banking app helps manage money efficiently. IDFC FIRST Bank offers the most advanced banking app to help regulate your expenses, save money, invest, and earn returns.

A mobile banking app that can help you perform a range of banking tasks related to money management is what you may look for in 2022. With the best mobile banking app like that of IDFC FIRST Bank, you can enjoy distinctive features that help manage your money to achieve your financial goals in 2022. Some prominent ones include:

  • Instant online bank account service

Most banks help their customers open an instant bank account on their net banking app. The digital process requires you to complete a few simple steps like filling out your personal details like your full name, date of birth, email address, PAN Card number, and Aadhaar Card number; submitting supporting documents; and completing eKYC verification via a video call.

You can have your mobile banking account activated in a few hours and enjoy benefits like cashback offers, free and limitless ATM transactions, and competitive interest. With the IDFC FIRST Bank mobile banking app, you can do net banking registration and manage your finances.

  • Quick fund transfers and payments 

Banking apps facilitate instant payments and the transfer of funds. Some prominent methods to transfer funds include NEFT, RTGS, and IMPS, which require you to add a beneficiary. The IDFC FIRST Bank mobile app is integrated with the BHIM UPI app to offer better money transfer services. Other than transferring money, it helps you pay your utility and credit card bills on time.

The banking app also allows you to schedule payments through an ‘Autopay’ function and pay a recurring EMI payment or an entire bill amount. The ‘QuickPay’ is the other option to pay your utility bills related to electricity, LPG, DTH connection, and insurance premium.

IDFC FIRST Bank ensures that your payments through the app are highly secured through end-to-end encryption, multi-factor authentication, and one-time passwords.

  • Investment options

The mobile banking facility offered by IDFC FIRST Bank helps you do financial planning using data analytics. You can invest money in your preferred mutual funds, sovereign gold bonds, and unit-linked insurance plans. The net banking app also offers smart tools like the income and expenses analyser to help you budget by controlling your monthly expenses.

  • Advanced security

Using the IDFC FIRST Bank mobile app is safe as it demands user authentication. End-to-end encryption, fingerprinting device, and real-time text and email messages are other security measures the bank takes to safeguard the customers’ sensitive information and money.

  • Alerts and notifications

With the best mobile banking app, you can set alerts for overspending, low minimum balance in the account, insufficient money for payments, and missed payments. Apart from these, you can receive notifications for the money credited or debited in your account, interest charged for special services, and any unauthorized access to your account. The IDFC FIRST Bank’s latest banking app also alerts you for any upcoming payments and large purchases.

In short, the modern banking app is built to have advanced features to help you manage your finances in 2022 easily. You can make use of it by downloading the latest IDFC FIRST Bank mobile banking app now.

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