We’re in the midst of a mobile revolution where mobile apps are altering how businesses operate. From how logistics firms track deliveries, construction firms manage projects and retailers communicate with customers, businesses worldwide are leveraging mobile technology, including those in the financial sector.
In fact, it could be argued that the financial sector has been the most affected by mobile technology in recent months. In August 2016 new rules from the Competition and Marketing Authority (CMA) were unveiled stipulating that all leading UK banks will need to offer their products and services via mobile banking apps by 2018. In addition to this, there has also been an influx of fintech startups innovate the financial sector with new mobile banking solutions for customers.
Changes to the CMA’s rules and regulations, along with the increase in mobile banking adoption, means it’s vital that all financial businesses offer apps to their customers. With this, lets look at some examples of successful mobile banking apps in the financial sector, and how they’re simplifying finance management for customers worldwide.
No matter the focus of your financial business, it’s important to understand the importance of offering a mobile app. With 2 billion mobile users expected to use mobile banking by 2020, your customers will be expecting to manage their finances whilst on-the-go with no complications. Not doing so could potentially mean losing out to competitors in the growing fintech industry. Fortunately there are options available today.
Encouragingly the influx of mobile technology will also allow smaller financial organisations enter the market, similar to Atom, Curve and Monzo. If you’re a financial organisation looking to adopt a mobile strategy then we’d like to hear from you. Our experience in developing financial apps with SunGard Financial is evidence of how smart technology can be used to help manage finances, both internally and for consumer use.
Contact us today by visiting our contact page, or via the LiveChat portal on the bottom right hand side of your screen to discuss your plans.