7 Reasons Why Financial Institutions Need Custom Apps

0
7 Reasons Why Financial Institutions Need Custom Apps

Lenders and banks largely use apps based around popular templates, but custom software is quickly becoming popular. Rather than relying on the same old tired services, check out these reasons why you’ll want to upgrade to an app designed just for your financial organization.

 

1. Keep Pace With System Updates

 

Major system software vendors constantly update their mobile device platforms, which means you’ll want to make sure your apps stay current. Users of most mobile platforms have their devices updated automatically. Whether you’re aiming for Android-based gear or WebKit-enabled phones, you’ll want to invest in a custom app that takes advantage of all the changes that come out on a regular basis. This keeps your app looking current while simultaneously ensuring that it runs well on everyone’s handset.

 

2. Tailor Everything To Specific Users

 

Custom financial app development services customize everything to the needs of a specific kind of user base. People who bank with one institution don’t necessarily have the same requirements or concerns as those who join a credit union. Investment brokers and insurance representatives often need to offer their customers a completely different set of features. No matter which group a particular individual represents, working with a custom developer will ensure that they have the exact set of features they need.

 

3. Offer Additional Accessibility Features

 

High-contrast text, screen reader compatibility, and other accessibility features are important for many users who have to deal with challenges. Financial institutions that rely on basic templates might not have everything that their users need, and this could even put them at odds with regulators who require them to offer a certain amount of these options.

 

4. Provide Additional Languages

 

As well as system features and accessibility options, localization has become a big issue in recent years. Internationally-minded institutions will want to customize their apps to provide interfaces in a language for every single market they target.

 

5. Put A Stop To Package Confusion

 

Nearly 20% of all generated code contains at least some form of fictional package, which creates an environment where package confusion attacks are common. These target financial industry apps that were compromised by large language models. By working with a developer to come up with a custom solution, individual institutions can slash the risk of this kind of attack.

 

6. Improve Cybersecurity

 

Package confusion isn’t the only problem that financial institutions run into when they release an app. Banking information can involve customer details, which in turn translates into a significant amount of money for those willing to steal it. By developing an independent app, managers of financial institutions can be certain that their customers stay protected.

 

7. Increase Brand Recognition

 

Marketing experts recommend custom apps for their promotional value. When people use an app that boasts a rather unique design language, they’re more likely to remember which organization distributes it. That means they won’t think of their bank as merely another company but rather keep the specific brand in mind whenever they open the app up.

Custom software solutions empower financial institutions to deliver high-quality, personalized, and secure digital experiences. By investing in a custom app, banks and lenders can better meet customer needs, stay agile with new technologies, and solidify their position as leaders in the digital banking space.

Leave a Reply