Building a Simple Bank Application from Scratch

To start building a simple bank application, you'll need to define the core features that users expect from a banking app. These features include user authentication, account management, and transaction history.

The user authentication process is crucial as it ensures only authorized users can access their accounts. This can be achieved through a secure login system that uses a combination of username and password.

A simple bank application should also allow users to view their account balance, transaction history, and make deposits and withdrawals. This can be done by creating a user interface that displays relevant information and provides easy-to-use buttons for transactions.

For a simple bank application, it's essential to keep the user interface clean and intuitive. This can be achieved by using a minimalistic design and clear labeling of buttons and fields.

Building a simple bank application is a no-brainer, with billions of people worldwide already using banking apps to control their finances. Around 95% of Gen Z are already using mobile banking solutions, and 77% of Millennials are ready to switch to digital-only banks in the USA.

The benefits of having a banking app are numerous, and it's a must-have for any bank that wants to stay competitive. With a banking app, users can access their account, complete transactions, check their balance, and view payment history, all from the comfort of their mobile device.

Here are just a few reasons why building a banking app is a smart move:

According to Statista, users use mobile banking applications to quickly view their balance, view recent transactions, make bill payments, transfer funds, contact customer service, open a new account, and reorder checks.

The app development process for a simple bank application involves several key steps. There are eleven main steps to create a banking app, which include conducting market research, analyzing the target audience, and identifying competitors.

The app development process can be divided into two main stages: discovery and development. The discovery stage involves creating a common understanding of the future product between the product owner and the app development company. This stage helps save development time and cost, documents project functionality, and prioritizes tasks.

Here are the two main stages of the app development process:

Conducting market research is a crucial step in creating a banking app. It helps you understand the demand and offerings from your future competitors, what banking apps users are accustomed to, and which features those apps are offering.

You'll need to explore the market, identify your target audience, and understand their needs and preferences. This will help you map out the journey and draft plans for your future application.

The goal is to create an app that is unique and doesn't copycat the functionality of already existing and popular solutions. Innovations are one of the ways to make sure that a business stands out from the crowd and offers some really unique features.

Some innovations that will ride the mobile banking game in the foreseeable future include voice control, AI fraud prevention, mobile-only banking, biometric security, AI-powered chatbots, and Machine Learning.

Here are some key features to consider:

These features can improve the user experience, accessibility, and security of your application. By incorporating them into your app, you can differentiate yourself from the competition and offer a more comprehensive service to your customers.

Building an app involves breaking down the process into manageable stages. The discovery stage is crucial in creating a common understanding of the future product between the product owner and the app development company.

This stage typically involves conducting market research, analyzing the target audience, and identifying competitors to save development time and cost. The key deliverables of this stage are UX/UI design, project architecture plan, and market and competitor analysis.

The discovery stage can be performed by an IT vendor, clients, or a marketing agency. It's essential to prioritize tasks and document potential risks and how to address them during this stage.

The development stage is where the app is created based on the data delivered during the discovery phase. The main goal of this stage is to create a working application based on the provided requirements.

Here are the 11 main steps involved in banking mobile app development:

A 9-step strategy for creating a mobile banking app involves specialized iOS and Android banking app development.

The design and features of a simple bank application are crucial to its success. A good design should provide a seamless user experience, making it easy for users to navigate and access the services they need.

The core features of a banking app include authentication and authorization, user profile, transaction management, payments, bank accounts and card management, deposit check, push notifications, geolocation, near-field communication, digital wallet, and customer support. These features are essential for providing a comprehensive banking experience.

A simple bank application should also consider the use of biometric authentication, such as face ID or Touch ID sign-in, to enhance security and make users feel at ease. This is a measure not only to please customers but also to comply with industry-specific regulations.

Here is a list of the core features of a banking app:

In designing a banking application, it's essential to consider the needs and preferences of your target audience. The younger generation between 18 to 24 years old mostly uses mobile banking applications to transfer small amounts of money.

To create a user-friendly interface, consider the features that are most important to your target audience. For example, 86.5% of Gen Z, Millennials, Gen X, and Boomers use mobile banking apps to view their account balance.

The ability to view account statements is also crucial, with 68% of Gen Z, 62% of Millennials, 73.5% of Gen X, and 61.5% of Boomers using this feature.

When designing the app's functionality, consider the frequency of transactions made by your target audience. If they make a lot of regular transactions, you may want to add the ability to automate such payments.

Here are some key features to consider:

By understanding the needs and preferences of your target audience, you can create a banking application that meets their needs and provides a seamless user experience.

A banking app without basic features is like a car without wheels - it's not going anywhere. Account management is one of the most basic features that all banking apps have, allowing users to perform operations like balance checking, cards and bank accounts management, and recent transactions.

These features should be updated in real-time and synchronized across all users' devices. For instance, Simple's online banking interface integrated hashtag searching, memos, and location-based information for users' transaction history.

A banking app should also have a secure login system, which is a must-have feature. You should use AI and equip your app with biometric authentication like face ID or Touch ID sign-in to make users feel at ease.

Transaction management is another essential feature, allowing users to view their balance, monitor transaction history, and more. This information must be synchronized across all customer devices and updated in real-time.

Here are some of the basic features that a banking app should have:

These features will provide a solid foundation for your banking app, allowing users to manage their accounts, track their transactions, and make payments securely.

An ATM locator is a must-have feature in any banking app, allowing customers to easily find nearby ATMs and branches. It can simplify their lives significantly.

You can add a map to the locator, providing customers with a visual representation of nearby ATMs and branches. This can be especially helpful for those who are new to an area.

Aside from locations, you can also include a search feature that allows customers to search for specific ATMs or branches by name, address, or zip code. This can save them time and effort.

Providing information about business hours is also a great idea, so customers know when they can access their accounts or conduct transactions. This can be especially useful for those who plan their day around banking hours.

A projected queue feature can also be added, giving customers an idea of how long they'll have to wait in line at a specific ATM or branch during a particular time frame. This can help them plan their visit accordingly.

Offering cashback is a great way to make users fall in love with your applications. Some banks allow users to choose categories for which they'll receive payments, such as grocery, restaurants, travel, and so on.

Cashback rewards can be a powerful motivator for users to keep using your app. By giving users a tangible benefit for their purchases, you can create a loyal user base.

Users can choose categories that are relevant to their spending habits, making the cashback rewards more meaningful. This can be especially effective for users who frequently spend money on groceries or dining out.

Cashback rewards can be redeemed in various ways, such as through a bank transfer, gift card, or even a statement credit. This flexibility can make the rewards more appealing to a wider range of users.

By implementing a cashback program, you can create a win-win situation for both your users and your business. Users get rewarded for their purchases, and your business benefits from increased user engagement and loyalty.

Cardless ATM access is a game-changer for users of your application. You can solve the problem of users being unable to withdraw cash because their credit card was left at home by allowing them to verify their identity with the help of a banking app on their smartphone.

This feature works by sending a text message or using a banking app to authenticate the user's identity.

UX/UI Design is a crucial step in creating a banking app. The design stage starts with the creation of User Experience (UX), aiming to provide a seamless mobile banking user flow.

Knowing your audience is essential in creating an app design that meets their needs. Don't forget about accessibility and consider adding an accessibility mode for disabled people.

The user interface (UI) supports the app's functionality and is the 'face' of your application. It's the first thing users will see after they open the app.

Unlike other app types, customers expect a simple, intuitive, and no-frills user interface in a banking app. Finance is a serious business, after all.

Here are the core features of a banking app's UX/UI Design:

A clickable prototype is created during the discovery phase, representing the app's logic, structure, and design in a general way.

Simple's business model was a refreshing departure from traditional consumer banks. They had no physical branches, which allowed them to operate more efficiently and pass the savings on to their customers.

Their account-holders were issued Visa debit cards, making it easy to make purchases and pay bills. This was a major convenience for customers who wanted to manage their finances on the go.

Simple earned revenue by collecting interest on customer deposits. This was a standard practice in the banking industry, but it was still a key part of Simple's business model.

They also collected interchange fees from merchants, which was another important source of revenue. This fee was typically a small percentage of the transaction amount.