Every quarter, Nairametrics reviews some of the banking sector mobile apps available for downloads at your favorite app stores with the aim of giving you the top 5 banking apps. The mobile banking space is taking shape in Nigeria and is reminiscent of the craze for branch expansion experienced in the mid 2000’s. In place of brick and mortar is mobile banking and apps are in the fore front of this latest initiative to increase financial inclusion.

In this latest review, we look at a list of 7 mobile banking apps that have been released and compare features available for customers to explore. We also take a look at what some of their users have to say about the apps before winding down with our top banking app for the quarter.

UBA

UBA’s app is one of a kind; a very innovative, well-rounded application for its users. Not only does it care for online demands, the application is somewhat useful offline as well, specifically with providing short codes and answering basic questions on the application’s uses.

The most innovative aspect of the application is the automatic synchronization (syncing) with your device’s security system. This is more evident with the finger print function where the application simply adopts the device’s configuration and all you have to do is enable the finger print function.

Another area where the app’s syncing with the device is very useful is when you try purchasing airtime. Unlike other apps where you have to copy the phone number, the UBA app grants you access to your contact list from INSIDE the app. Considering that airtime recharges are one of the most common transactions on banking apps, UBA’s app should score them several points for this sync.

A last syncing function we must mention is that , you do not have to worry about leaving the app to get your One-Time Passwords (OTPs). The app does it automatically for you. Brilliant, isn’t it?

You can also use the application to run multiple accounts and the payment gateway encompasses pretty much a wide range of payment options ranging from major domestic utilities to some private universities, the Chinese embassy and a number of associations including the Red Cross. (Perhaps a shortcoming will be that in-hall banking services only have to do with cheques and not cards.)

Users’ Perspectives

Despite these unique attributes, the app does not seem popular among its customers. It has received only 500,000+ downloads on the Android PlayStore, which is the lowest range among this edition’s participants. But, among those who have the app, it is rated fairly high at an average of 4.0 out of 5.0. This is the second lowest rating among the 5 apps reviewed in this article.

A critical look at the comments will show that majority of the 5-star ratings are without comments. (Could these ratings be from users who simply want to be left alone by Google?)

At the other end of the scale, most of the 1-star ratings revolve around problems with the recent updates. Complaints range from inability to sync their former details to mal-functioning, and in some cases, non-functioning of key features of the app.

sample 5-star comment: “the app is very good. why are people complaining? as far as i am concern[ed], the app is ok” taofeeq hassan

sample 1-star comment: “was loving this app till this recent upgrade. please revert to the old version before i lose my mind. i can’t even use account and if i manage to, i can’t use the favorite list or otp…same prompt… ‘unsuccessful’! [what’s the matter?]” emeedim.

First Bank

Due to its relatively easy set-up, this app will successfully run for Customers’ Favourite. Also, the beauty of its User Interface (UI) easily sets it apart from other contestants in this edition ; with soft, inviting hues, the app is pleasant look at.

Navigation is as simple as it gets with minimal clicks required to carry out common transactions like transferring funds or recharging airtime.

However, the Personal Identification Number (PIN) for logging in is different from that for transactions ; an innovation meant to improve the safety of using the app.

The most innovative thing about the app is the inclusion of the Quick Response (QR) payment option. This will be a favorite for people who love to shop but do not like to move around with their purses.

Perhaps the only discouraging feature is the presence of adverts on the app. Although the ads are tailored to First Bank’s products and can be disabled, it remains a controversial inclusion that will have users divided. For some, it is one thing to receive mails and texts on your banks products and services all the time and another to have them on the app still.

Users’ Perspectives

As predicted earlier, the app is a favorite with over a million downloads on Play Store alone and an average rating of 4.3 among users,; a high point in this edition. With over 11,000 reviews- the most reviews of the 5 apps compared today- the fact that the bank has over7,700 giving 5-stars should be a testament to the functionality of the app.

An in-depth review of the comments show that we have more insightful 5-star comments, with customers specifying exactly what they love about the app. For many, the QR payment inclusion is it while for others, it is the seamless functionality.

However, complaints exist and many are related to the inability to login to the updated version and issues with beneficiary lists.

One particularly disturbing comment observed was a complaint that it is possible to login to the same account on several devices at once. Security-wise, this is a no-no, considering that Nigerians lose or sell their phones rather frequently. If true, this is something that the bank needs to look at.

sample 5-star comment: “the recent update is a lot better and more reliable. for now, i think it’s the best mobile banking app i have used so far though there is still room for more improvements. keep up the good works.”

sample 1-star comment: “inaccurate app. when you transfer money once, in a few minutes you discover that the [app] has transfer 2 or 3 times”



READ MORE: https://nairametrics.com/top-mobile-banking-apps-in-nigeria/


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https://nairabarter.com/blog/best-mobile-banking-apps-nigeria/