Mobile banking app development is just beginning to gain momentum in terms of improvements, so hiring specialists to help you with the development of mobile banking is the right opportunity. If you think the market is full of various banking apps and winning your audience is challenging – this isn’t the case. Stats show that around 89% of bank customers use mobile banking apps to manage their accounts.
In this article, we’ll explore the market growth of mobile banking development, its benefits, must-have features for user-friendly software, challenges, how-to-develop guide, and other matters you may be interested in.
Mobile banking consumers are individual customers, businesses, government bodies, investors, non-profit organizations, and educational institutions. Their requirements vary following their business or personal needs, from using services like savings accounts, taking loans, and facilitating payments to collecting taxes and foreign exchange transactions.
As the owner, you can’t go wrong with the app development, as the stats say the number of users is growing by leaps and bounds. While in 2016, mobile banking users in the USA were expected to increase to 111 mln, in 2025, the US is expected to have 216.8 million digital banking consumers. If you like figures more, let’s review the global banking market size overview and forecast. In 2022, the Global Mobile Banking Market was assessed at $ 0.941 bln and was expected to grow from $ 1.3 bln in 2023 to $ 3.47 bln by 2030. Over the forecast period (2023-2030), it exhibits an annual growth rate (CAGR) of 15.06%. What makes the market grow so fast? More and more customers use their smartphones for banking services, from bank statements, bill payments, and funds transfers to the general need for online tracking of their financial needs in terms of security. Isn’t it the right time to reach your audience by offering a winning product on the fintech market? Today is an excellent chance for banks and business owners to outbid rivals and enhance their position in the market.
Challenges need solutionsThere is no challenge Keenethics can’t solve. Have any doubts about your project idea and need expert help? We’re here to listen to your fears and find the best solution to impress the fintech customers with your product.
