Must-Have Features of Mobile Banking App To Ensure Success

You will agree to me that we live in a digitally-operated world where everything is virtual. We harness the power of digital smart devices like mobile phones and tablets to do everything from communicating with others, to streaming videos and even running a business. Mobile banking applications enable you to do nearly all transactions online anywhere and anytime. As a result, clients no longer need to stand in line for any documentation process or search for ATMs. Mobile banking applications are those advanced technologies that give us the advantage of performing practically all the same actions on the go that we only have done on a desktop computer previously. So, yes, nowadays, technology rules the world. All financial institutions and banks are moving towards digitalization. The reason behind moving towards digitalization is today's market demands. Also, the only reason why banks hold leading positions in the market is that they have user-friendly and well-designed mobile banking apps that customers love. The idea of stepping into a bank to handle particular requirements such as printing passbooks, transferring funds, checking balances, depositing checks, and many more, has become almost antiquated. Clients can do all of these things directly from their smartphones with the help of a banking app. It doesn't get more comfortable than that! In this article, I've covered all the must-have features that you need to consider in FinTech mobile app development to have a successful banking app. Let's dive right in. Features to Consider in Mobile Banking App 1. Bank Account Management The main motive of using a mobile banking app is to manage their bank account information directly from their mobile device. Users can check balances, monitor their credit cards, bank accounts, view transaction histories, and transfer funds from anywhere at any time by featuring bank account management capabilities.

Guide To Create an Educational App With It's Cost

The quarantine due to the global pandemic has changed almost all of our familiar life processes. Some enterprises, unfortunately, reduced their activities or closed down, and others adapted to the remote mode of working. Education is an industry that experienced one of the most radical changes. Even though the remote learning format has been around for quite some time, an unexpected forced transition has become a big challenge nonetheless. However, these difficulties proved to be a blessing in disguise for the educational app market. So, yes, you are thinking right about how to create an educational app, and indeed, it is a promising move. The rising popularity of E-Learning apps of all kinds has prompted the growing interest in educational app development in this current situation. Therefore, educational apps are your chance to build something useful for an organisation and make a profit. Why Are Educational Apps So Popular? Indeed, not for the degrees’ sake, but to gain knowledge, E-Learning education is trending. Undoubtedly, education is the core for adults, kids, and everyone, whoever wants to seek knowledge to succeed in the future. Once Peter Drucker quoted that “Today knowledge has power, and it controls access to advancement and opportunity.” To gain knowledge, E-Learning apps is one of the best ways. Hence, an educational app is a piece of mobile software designed to help people with remote learning. The examples range from E-Learning apps teaching kids basic math to apps acting as advanced professional training platforms for grown-ups.

How Big Data & AI Are Disrupting The Insurance Industry?

As many people know, Artificial intelligence (AI) has already left its mark on the insurance industry for good. Artificial Intelligence in insurance involves computers and their associated systems performing tasks that historically only humans were capable of achieving. The evolution of big data is one of the driving forces behind the rise of AI within the insurance industry. This evolution enables insurance companies to access more information about customers, their behaviors, risk factors, industry trends, and other quantifiable information. This enhanced set of data helps insurers set rates, perform underwriting tasks, adjust them, and assess claims. There are many types of AI, and the ways it is reshaping IT are available, which also helps in disrupting the insurance industry. Big data is the emerging technology and essential part of the insurance industry that is highly demanded but not extensively used. Insurance is a commercial sector that can genuinely benefit from Big data insight, possibly more than any other industry. The relevant application of big data permits start-ups to disrupt a traditional widespread insurance policy model that has not been changed for many years. Furthermore, most current insurers understand that innovation and advancement should be introduced into their activity rapidly. To be a competitive player in the market and provide a higher level of customer service. How AI Can Stop and Spot Insurance Fraud? Unfortunately, insurance fraud is prevalent in the industry, and it requires costly resources to uncover. Traditionally, insurance fraud investigators have had to search through mountains of paperwork and travel to great lengths to examine suspected insurance fraud cases. Moreover, there is almost no barrier for potential fraudsters, because they are well aware of how expensive and difficult it has been for insurance companies to identify fraudulent activities and claims. Therefore, very few insurance fraud cases result in legal prosecution, which amounts to more hidden costs in premiums for insured drivers. 1. Reducing Fraud Investigation Costs Insurance companies are starting to rely on (Artificial Intelligence) AI software solutions to spot differences in claim information and claim submissions that appear to be an outlier. This enables insurance companies to cast a wider net at the outset for compiling instances of potential fraud. If potentially fraudulent claims are identified, then insurance companies can assign claims inspectors to manually follow up on cases that appear to be clear examples of misconduct. As a result, claim investigators will have much smaller caseloads of potentially fraudulent claim submissions, so that they can devote more attention to investigating the extreme and costly cases.