The advent of mobile banking apps

Banking reforms in Nigeria have seen many innovations, creativity and changes in the mode of operations of virtually all banks and their relationship with their customers. One of such amazing concepts that have become popular is deploying mobile applications to ease banking transactions across all banking platforms in the country.

It is simply a technology that creates an interface between a bank customer’s account on his/her debit card and a mobile phone. It is downloadable software which comes free of charge and is available on both Apple and Google Play stores.

Some of the applications are as lightweight as 7MB, while others are as heavy as 30MB, depending on the banks involved and the developers. Basically, it is to be assumed that all banks in Nigeria now deploy these mobile apps for the convenience of millions of customers who prefer to sit in the comfort of their homes to carry out simple transactions instead of queuing up for hours in the banking hall. The question which the average bank customer will want to ask is this:

“What is the advantage of these bank mobile applications?”

Expenditure monitoring: These mobile apps help monitor your daily expenditure and give the user a real time bank expenditure statement, which he/she can find useful in doing monthly budgeting and other useful planning tips.

An economic life saver: Considering the fact that one may end up spending huge sums of money on transportation to the bank frequently, depending on the dynamics of your business, the use of mobile banking apps makes economic sense.

Time saver: Some individuals can spend as long as 2 hours trying to carry out simple transactions that can be completed within 3 minutes on your mobile phone. Time is money they say, and mobile apps help echo that sentiment.

Ease of business: For business people, transfers can be made and goods sent without the buyer traveling or going to the bank to make a transfer. It’s so convenient, safe and fast for business.

Now the review…


READ MORE: https://nairametrics.com/review-guide-to-the-best-mobile-banking-apps-in-nigeria-today/


Cc:@lalasticlala

Okay. I just used the Keystone Bank Mobile Banking App and I was wowed!