In hardly any other industry in recent years, has there been such a strong turnaround on mobile solutions – as in the banking environment. Already more than 50% of the Central European banking customers handle their banking business predominantly through smartphones. It is hard to see any bank escaping this trend, and as such, now all major banks offer mobile banking apps. In view of the different customer needs, some banks even have multiple apps with specific purposes programmes. This trend is further reinforced by Fintech startups such as N26. There are even banks, who now operate entirely on mobile devices, negating the need to even offer branch-level business.
The essential basic functions like insight into current transactions and account balances, transfers and account management, are nowadays mandatory and are expected by the bank customers making use of bank apps. With additional services such as mobile account opening or small loans and credit (which can be processed in a few moments) the most modern providers are tirelessly searching for decisive advantages in this highly competitive market, differentiating themselves accordingly.