The banking industry has seen some drastic changes in the last few years. The increasing dependency on Net Banking and Mobile Banking apps have changed the face of banking not just in the UK, but the entire world. Four out of 10 people in the UK use mobile banking apps to access their accounts. To be more precise, 71 percent of the adult population in the UK accessed their bank account via mobile banking. Comprehensive app features, easy accessibility while on the go, and safe and secure transactions have made mobile banking a hit among people of all age groups.
In this blog, we’ll discuss the advantages of using mobile banking apps. Read on to find out the five benefits of using a mobile banking app.
The Benefits of Using a Mobile Banking App
Easy accessibility is one of the main reasons why people prefer to use mobile banking apps. However, this is only one benefit of using mobile banking.
1. 24/7 Availability
Round the clock availability is one of the main advantages of using a mobile banking app. Mobile banking apps, such as the OakNorth Mobile Banking App, make it easy to access your banking details from the comfort of your home or office. There are no fixed hours of operation that you need to abide by to complete your banking requirements when you use a banking app. You can easily log in and view your account details with a click, anytime, anywhere.
2. Secured Transactions
With phishing and data breaches on the rise, banking apps ensure that you enjoy a safe and secure experience. Users can beef up their security by using two-factor authentication, setting a secure password or using biometrics to log in to their account. This step ensures enhanced safety measures when using the app.
3. Improve your Financial Well-being
Another great benefit of mobile banking is the ease at which you can transfer money in and start saving towards your financial future. Whether you’re looking to save up for your first home, a car or a weekend getaway, mobile banking can help you track and meet your savings goal. In addition, you’ll also earn interest on your savings.
4. Convenience
Mobile banking apps help you save a lot of time and effort. With advancements in technology, mobile banking apps are evolving to help you manage all your banking needs at the touch of a button. For example, the OakNorth Mobile Banking App, helps you perform a number of functions including:
- Opening a savings accounts
- Accessing your account details to check the balance, interest earned and transaction history
5. Open an Account
Visiting a bank to open a new account is a thing of the past. With the introduction of mobile banking apps, you can easily open an account in a matter of days. The OakNorth Mobile Banking App makes it easy to apply for a new fixed term / notice / easy access savings account.
The Bottom Line
Mobile banking apps are the next big thing in the world of banking. Availability of online platforms make it extremely easy to manage your bank account in the palm of your hands.
If you’re looking to jump into the world of digital banking, you can download the OakNorth Mobile Banking App, available for both Android and iOS users.
