Are you a Financial Service Provider, Start-Up, SMB, or, Entrepreneur, looking for a mobile app development idea? Your search for that ‘idea’ ends here. In this blog, you will come to know a complete guide on Mobile Banking App Development that’s trending in 2021. As per Statista’s recent forecast, in the current year 2021, a huge number of 196 billion mobile apps are projected to be downloaded by consumers from the mere Google Play Store. And as per DataReportal, there are around 5.22 billion unique mobile users the world over, which justifies your decision to go for a mobile banking app development for your business. The mobile banking app takes care of all the internal banking processes and operations meant for banks’ varied client-base scattered across the globe.

Let’s discuss in detail mobile banking app development, and various benefits, features, about the app itself, top banking apps, and a complete guide on the topic!

Why Mobile Banking App?

For instance, if you have an account in Standard Chartered bank, what message you see? “New-age banking experience for your financial freedom”. Further, it encourages you to download the SC app on the iOS platform, says, “Take control of your Standard Chartered bank account in a quick, simple & convenient way using our SC Mobile app.”

So, if you are a financial service provider specializing in banking services, the two-fold benefits are there:

• Your mobile banking app is a free tool for clients who can use it at convenience.
• One-time investment and lifelong benefits. You will have a huge cost reduction and effectiveness of your banking services.

Major Benefits are:

• User-specific control – Clients can keep the tab of their expenses, transactions, deposits, overall management of personal finances becomes a convenient and efficient process.
• 24*7 availability – Clients don’t have to visit bank or ATM personally rather opt for app-based services that are easily available online mode 24hours and located anywhere in the world.
• Security protocols – If you are developing for top banks (or just any bank irrespective of the stature), you have to take care of their credibility factor that comes from their unparalleled services. So, you need to include stringent security protocols, customer privacy, information integrity, encoding software in that way.
• Track loans, deposits –  A mobile banking app allows app-users/clients to perform varied banking operations like tracking of loans, check deposits, payroll- services, etc.
• Digital records:  The mobile banking application records all the sensitive data of clients, banks, data related to several financial dealings are stored in the digital format. Paperless, digital records are used by banking institutions, by interacting with clients By using mobile banking development wisely, a banking institution can interact with their clients and even can manage legal issues without the need of revelation of sensitive information on paper
• Saves time: Your clients don’t have to go to physical locations and stand in a queue for availing of services like cash withdrawal, deposits, updating an account, etc. All are done upon few clicks on a mobile phone, your app guides you through the process.
• Reduced costs for any customer service: Customer Service costs are hugely cut down up to 70% with the arrival of a digital model of banking via mobile app.

Market Trend

Just in the United States, as per Statista report,90% of the total mobile banking app users do check their balance in bank accounts.

NOTE: So, before going ahead with the development of  a mobile banking app, you should  be capable to find the answer to one basic question – “Why do your customers need or require a mobile banking app?”

Notable Mobile Banking Apps

1. Chime
2. HSBC
3. Wells Fargo
4. JP Morgan Chase
5. CapitalOne
6. Bank of America
7. Standard Chartered

Significant Features of Mobile Banking App

• Creating & Managing Account
• 24*7 Customer-Support
• Push- Notifications
• Personalized- Offers
• Cashback services
• Trackers to check spending level
• Secured- Payments &Transactions
• Sharing finance allowing bill- splitting among multiple users

Mobile Banking App Development – Stages & Costs

Two-steps Processes which include-

1. Discovery Stage – It includes deliverables like the final version of application-concept, prototypes and UX/UI design, architecture plan of the project, product backlog, focused analysis of market & competitors.
2. Development Stage- A typical cross-functional team of engineers for quality assurance, front-end developers, back-end developers, project managers, delivery managers.

Methods of Mobile Banking App Development

There are two methods –

1. Splitting the full banking software into app versions. As a result, you can release your app more quickly. Moreover, you can test all your mobile banking unique features with a real-time, actual user. Normally, this method of mobile banking app development takes approximately 3 to 6 months. The estimated cost incurred could be around from 50kUSD up to 80kUSD per platform. Thereafter, you can go for developing further app versions. Yes, before moving to this step, you see the feedback that comes from the market.
2. Another method is to plan and then develop an application with full-fledged features of mobile banking. Under this method, the entire process of mobile banking application development takes more time. Also, the budget is more as the scope of work increases a bit.

Cost Estimation

As per Clutch’s estimation, the cost for the development of a mobile banking application might range from $200k to $500k.

Factors that determine cost estimation are-

• Development basis like mobile web, hybrid, native, etc.
• Type, location of the vendor.
• The number of features & app complexity.
• UI/UX design complexity.
• Infrastructure at the back-end , connected APIs.
• Special GUI, visual elements.
• Types of platforms-(Android, iOS, cross-platform, web, etc.)

Bottomline

Financial dealings and transactions feature among the topmost priorities everywhere, all industries. Banking services are unparalleled. And when banking institutions are available on the apps of every user’s mobile phone, the seamless experience is guaranteed for the reasons mentioned throughout the blog. It’s the ripe time for you to go ahead with your exclusive mobile banking app development to create that satisfying, convenient platform for all the users. Reach out to the best mobile application development company in your area and seek adequate guidance for the application development meeting desired business goals.

 Wish to own an exclusive mobile banking app for your company? We can help you with a banking app that provides a customer-centric experience that is convenient and engaging for your customers. Feel free to ask for a demo.

We live in the world of apps. Our lifestyle has undergone a huge transformation ever since this mobile technology invaded our lives. Though started gradually, and before we could even realize it, our very smartphones started dictating us for day-to-day affairs. Remember how those classifieds appeared in Yellow pages, newspapers, not so long back? Exactly happening today also but in the digital format. The online marketplace is the place where classified apps are connecting buyers and sellers for conducting online trades and businesses. Quikr is a very popular online classified company that makes online selling-purchasing of second-hand items locally. Not only that, these applications also provide search options to find desired results, for instance, job search, product or service search, a place for rent, and so on. All thanks to the digital technologies – that have enabled us to create applications like Quikr and many more.

Key Features of App Like Quikr

If you are planning to build an app like Quikr, you need to have similar sets of features in your buy- and- sell classified application development. These notable features are the major factor that makes Quikr or even OLX a popular choice among people across the globe.

1. Easy to log-in or sign-up: Even a non-tech savvy person can very easily register on his mobile classified app.
2. User-friendly UI and UX design: This feature makes you navigate easily through the app. It’s visually appealing, too.
3. Option for private chatting:  A private chat option for conversation between buyer and seller is available. This facilitates an easy process for negotiation and business dealings.
4. Real-time notifications and alerts: A real-time alerts are there that notifies users to know about buyers and sellers in the nearby locations. Real-time information is a  time-saving feature that allows you to take your decision quickly.
5. Free advertisings: This feature attracts users as it allows them to create and post free advertisings using their verified mobile number.
6. Ratings, Reviews: Direct from customers, this is a significant feature that leads to the decision-making process towards buying a product.
7. Data security:  A robust data security feature that protects the customer data and business data. This feature ensures safety protocols.
8. Other significant features –  As a user, you can search for buyers or sellers anytime and can save certain classified ads for your future reference. Also, there are features like multilingual, in-app –notification, in-app-payment, geo-location integration, that speak the real worth of a buy-sell app.

What are the Paid Forms in an Online Marketplace

• Certified sellers
• Membership-fees
• Lead-generation-fees
• Commissions or transaction-fees
• Featured listings
• Advertisement listings

Factors that Influence the Cost of Developing an Application like Quikr  

To know how much it’d cost you to develop a buy-sell classified-mobile-application, you have to understand first the influencing factors.

What are they? Let’s find out:

1. Type of App-Development Platform

 A major factor that influences your decision to develop your app is the type of platform you choose. You have two platforms before you –  Android, and iOS.You also have to decide between a native- mobile app and a cross-platform app. Native-app mobile development is single platform-specific, involves high costs.  Whereas, a cross-platform mobile app development works for both the platforms and the development cost is lower than a typical native one. Comparatively, native -apps are superior in quality owing to their specific platform- based feature while the cross-platform app is budget-friendly most of the times. However, you must conduct thorough market research, go through customers’ ratings and reviews to decide which platform is best suitable for your business type.

2. App-Design

The two elements of an app design are UI(User-Interface) and UX (User-Experience) which are critical factors to decide the fate of your app. UI design casts an appealing visual effect, the first impression on your app- user, whereas, UX decides the overall experience of your app, how easy is to navigate it and the usage factor. Thus, these parameters and the design quality affect your pricing- part. The more quality visuals like animations, buttons, GUI, front-end development, etc. amount to the overall design of your app that can convey your brand message, too!

3. App-Size

The different app requires unique sets of functionalities as well as features. It depends what is your requirement and the various technical complexities involved while building the app. App size means all those functionalities you want to incorporate into your app, and the level of technical competencies that the process entails contributes to the factors for deciding cost. There are certain additional features you might opt for to stay ahead of your competitors. In that case, your cost will be a bit higher than the average cost towards building your buy-selling app.

4. Hourly-Rates from Development Company

Are you going to hire a company that charges on an hourly basis? Depends, if you are choosing a reliable and popular mobile app development company, and if it charges on an hourly basis and an estimated cost would depend on the time spent by the development team. Rather, the hourly rate is directly proportional to the amount of time spent by each team member.

5. Type of App-Development Company

If you are choosing a freelancer, then your luck because accountability lies with the sole stakeholder who is developing your app. And the price quote is what your freelancer demands. As said before, if you are choosing a company that charges on an hourly basis, then you can have a detailed quotation to compare between two companies offering the same service. Otherwise, you can go for an established mobile app development company that holds a reputation and good word-of-mouth for their services. You can get a relevant idea of their quality work done in the past, looking at their success stories and clients’ testimonials, to name a few.

6. Location of App-Development Company

Location does matter. If you are in the US, for instance, then any mobile app development company will charge between $70 and $250 per hour. However, depending upon your chosen company type,  and according to various sources, the costs may go up to approximately $50,000 to 65,000. In India, you can get your basic, functional application developed at a lesser rate as compared to the US, say, around $10,000 till $30,000. It’s all about the credential of the company you choose.

How to choose a reliable Mobile App Development Company

Though there are some key parameters while making the choice, one should consider mainly experience in the domain and accessibility to speak with experts in the desired company.

Key Parameters

• Strong technology footprint
• Agility
• App Hosting Abilities
• Diverse Portfolio
• Case Studies
• UI/UX expertise Capabilities
• Security of App Data
• Customer Reviews
• Go to Market Abilities
• Dedicated Customer Support

While you have a lot of choices today but businesses need the flexibility to scale and integrated new things on the fly. If you are looking for an app like Quikr marketplace to build, check out our Capabilities in Mobile Application Development to see our range of projects and book an exclusive demo today!

Have you imagined a mobile without apps? The baseless question, right? Right! No matter who you are, where you are, what you do, a mobile phone is your constant 24*7companion, giving you immense pleasures in the form of services, business opportunities, and entertainment, to name a few among the list! And if you are a Mobile Application Development Company in India, you have a reason to smile, to rejoice. India becomes the largest market (besides South- East Asia and  South  America), for Google Playstore, as per the recent statistic report prepared by BusinessofApps, a leading app-data source. The global pandemic has only accelerated the growth of mobile app usage across industries. You’d find all the services and products in some app locations- on your mobile indeed! Be it groceries, restaurants, food deliveries, e-learning, B2B, B2C, you got to download the very app via your iOS or Android platform. And what not, even the Indian government has taken this into cognizance –  launching  ‘Union budget Mobile App’ for Budget India 2021, just a few days back! Glorious moments for all the Mobile Application Development Companies in India. Opportunities abound, just you keep a checklist for your quality development services and keep a tab on your ranking. Let’s find out the top 10 Mobile App Development Companies in India today. Lets’ discuss what brings them within the bracket of top 10 rankings. What are those parameters that distinguish them from the rest?

Quick Comparative Analysis

1. Hyperlink InfoSystem

Hyperlink InfoSystem is a leading ISO 9001:2008 Certified Mobile Application Development Company in India, renowned for its Custom Software Development Services in Mobile Application and Web Development technologies. It also specializes in AR-VR Development, Game Development, Blockchain Development to name a few.

Location: Ahmedabad, Gujarat

Company Size: 201-500

Establishment: 2011

 Experience: 9

Industry:  eCommerce, Entertainment, IT

Services: Android App Development, iPhone App Development, Windows App Development, Website Development, Augmented Reality, Virtual Reality, Blockchain Development, Wearable App Development, Mobile App Development

2. Fusion Informatics

Fusion Informatics is a Leading AI, Mobility, IoT, Blockchain & Cloud Solutions Provider, Mobile & Web Applications Development Company with a focus on implementing high-level technology solutions & services catering to clients ranging from Start-Ups, SMBs to Enterprises across the industries. An ISO 9001:2015 Certified & Quality Mark Award Winning Company,  worked on 5000+ companies with 1000+ Mobile Apps and continuously expanding reach.  Mobile App Development, iOS app development, Android App Development, etc. are its forte.

Location:INDIA, USA & UAE

Company Size: 150 – 200

Establishment: 2000

 Experience: 20

Industry: Finance, Healthcare, Retail, eCommerce, Transportation & Logistics, Education, Manufacturing

Services:  Enterprise Mobility, IoT Development, AI/ML, ChatBots & VAC, Application, BlockChain Development, Digital Marketing, HealthCare, On-Demand Apps & Solutions, Cross-industry

3. Capermint Technologies

A leading Mobile Application and Game Development Company. ISO 9001:2015 Certified Company. Specialties include the creation of Comic Books, Children’s Books, Custom CMS, etc.   

Location: Ahmedabad, Gujarat

Company Size: 51-200 Employees

Establishment: 2014

Experience: 6

Industry: E-Learning, Hospitality, Retail, Real Estates, Utility, eCommerce, Healthcare, Sports, Gaming & Leisure, Media & Entertainment

Services: Mobile App Development, Game Development, Graphic Designing

4. OpenXcell

A leading CMMI Level 3 Software & Mobile Application Development Company is well known for its new products and high-end services in Mobile and Website technologies. OpenXcell delivers services in Blockchain Technology, Mobile App, Software Solutions, Web & eCommerce, Testing and Q&A, and more.

Location: Ahmedabad, Gujarat

Company Size: 100-250 Employees

Establishment: 2008

Experience:12

Industry: Education, Travel, Manufacturing, Real-Estate, Sports, Health

Services: Software Solutions, Mobile Apps, Blockchain Technology, Web & eCommerce

5. Appinventiv

Appinventiv is one of the leading  Mobile Application Development Companies in India, producing end-to-end Mobility Solutions, Cross-Platform, iOS, Android, and Windows Mobile App Development Solutions to different Start-Ups and Enterprises globally.

Location: Noida, Uttar Pradesh

Company Size: 201-500 Employees

Establishment:  2014

Experience: 6

Industry: Education, Travel, Finance Real-Estate, Entertainment, Wellness

Services: Flutter, IoT, Mobile Apps, Blockchain Technology, Web development

6. Webandcrafts

A leading Web & Mobile Application Development Company. Also into Website Development, Web Hosting & Digital Marketing fields.

 Location: Thrissur, Kerala

Company Size: 100 Employees

Establishment: 2012

Experience: 8

Industry: Automobile, Banking. eCommerce

Services: Website Designing & Development, Mobile App Development, Web Application Development, Graphic Designing, Internet Marketing, 2D & 3D Animations

7. InnovationM

A top Website & Mobile Application  Development Company.Specialist in end-to-end Solution Development – Product Development & Custom Application Development.

Location: Noida, Delhi, Gurgaon

Company Size: 51 -200 Employees

Establishment: 2010

Experience:10

Industry: Education, Fintech, Healthcare, Hospitality

Services: Web Design & Development, Software Development, Digital Transformation, Android App Development, iOS App Development, Mobile App Development, UI&UX

8. AvyaTech

A leading IT Solutions Provider, Website Design Mobile Application  Development Company.A premier provider of the Enterprise-Class WordPress Scaling Solutions.

Location: Noida & Faridabad

Company Size: 11-50 Employees

Establishment:  2013

Experience: 7

Industry: Real Estate, Healthcare, Financial &eCommerce, Travel

Services: Web Development, App Development, Digital Marketing, Mobile App  Development, Support & Maintenance

9. Infiniticube

A leading Mobile and Web Development Company. Specializes in Mobile Application and IT Development Services. A pioneer in innovative technologies and SaaS Solutions.

Location: Noida, Uttar Pradesh    

Company Size: 11-50 employees

Establishment: 2017

Experience: 3

Industry: Banking & Finance, eCommerce, Retail, Social Media, Travel

Services: Mobile App Development, Web Application Development, Hybrid Development, Digital Marketing, Software Development, Machine Learning

10. Moptra Infotech Pvt. Ltd.

A leading Software & Application Development Company specializing in the fields of Mobile & Web Development, CMS Development, as well as dealing with IBM Websphere Commerce. They also handle end-to-end Software Solutions for clients.

Location: Noida, Uttar-Pradesh

Company Size:11-50 Employees

Establishment: 2015

Experience: 5

Industry: E-Learning, Hospitality, Retail, Real Estates, Utility, eCommerce, Healthcare

Services: Mobile App Development, Web App Development, CMS Development, IBM WebSphere Commerce

Mobile App Development- Master Key to your Business

Not a Choice, a Necessity! If you want to start a business, run your business, or give your competitors sleepless nights –  all you need is to transform your business the digital way. Build your Mobile Applications customized to your business type! Identify your specific needs, consult your favorite Mobile App Development Company, and start over the journey towards achieving your business goals! You already have the list now – of that of India’s top 10 Mobile Application Development Companies.

Selecting, evaluating, and working with the right application company can be a daunting task. You need the smart one, which not only can fulfill the current demand but prepare you with a scalable platform for future ones, too! Wish to check out our Mobile Application Development Capabilities and foresee the possibilities, reach us to know more.

If you are looking for building a robust web application suitable to your business requirement, then the very first thing that might crop up in your mind is the cost of its development.  However, any web application development occurs in various phases. A web application is similar to any other application software that is stored, regularly maintained, in a remote server site. You have to use web browsers like Google Chrome, Internet Explorer, Mozilla Firefox, to access a web application. And you can access it on any platform – mobile or desktop. You don’t have to download it to use it, a significant feature behind its being a favorite amongst you all! Regarding the estimated cost, you would like to know whether it falls within your budget!

There are various aspects you got to see before concluding the budget part, i.e. knowing the ultimate cost. For instance, the total number of app features, any complexities, the number of similar players, the credibility factor of the web app development company you have chosen, and so on.  To determine how much it’d cost you to develop a web application for your business or your client, you must know the varied types of web applications and the related costs involved therein! And, costs might vary as per the project-size, your company type, i.e, enterprise, SMBs, or Start-Ups, and the price-offerings of the company you are availing of your web-app development service. In short, that’d be your ultimate guide for 2021, too!

Web Applications – Types & Costs

1. Portal – Web- Application

 If you are going for a web-portal development, on average it takes about three or four weeks of time-span. Normally, these web portals are developed using readymade and customized templates, so, you just don’t need to fret over it. Choose the one you like and go ahead! Customer-engaging interactive elements, widgets, lots of media, additional web pages are something you see inside. The expected cost could be around 5000USD to start from up to 17000USD. Note –The cost would vary according to the project-types and whether you are going for a fixed – pricing model or on an hourly basis. You got to consult a credible, established web-application-development organization to get the complete guide.

2. Static -Web –Application

Have you seen digital curriculums or online portfolios, of your prospective candidates you are going to hire? HTML or CSS are used to create a static web page. The pandemic has triggered the requirement of this type owing to the first-hand information you want to know about a business. Wouldn’t you click the home page and know about business offerings? You should consider the factors like its maintenance aspect, resources detail, etc. that determine the overall cost factor. The larger your project is, the bigger will be the resource. Align this way. Somewhere between 500USD and 10000USD can be expected, however, the cost-calculator of your development company will matter here the most.

3. Dynamic Web Application

A bit complex than the Static one in technical aspects. This type of web app needs to constantly update the databases. Content Management System (CMS) functions along with a dynamic web application that gives you the scope of making changes to your content as a user. Hence, dynamism is required here. Popular web languages used to develop it are ASP and PHP. Backend, programming aspects may be complexed and very much depends upon the server and other related factors. Various factors like the time taken, resources, number of people, maintenance requirements, etc. do determine the costs involved in developing a dynamic web application. You could expect the cost to incur around 2500USD – 5000USD.

4. Content Management Systems (CMS) Web Application

CMS in your web application is mainly used as an interface for smooth accessing, updating activity and users can make changes in websites whenever required. No need for any technical expertise, you just make changes as per your need and time. The cost depends upon the type of CMS software your web application development company will deploy onto your CMS web app. Which of the following CMS you are having now? WordPress, Drupal, Magento, Kentico, Joomla are a few names you can identify with. The cost variation could be the range from 3000USD to 50000USD, depends again upon your CMS software chosen.

5. E-Commerce Web-Application

How do you do Online Shopping? That’s the platform called eCommerce, one of the most common web applications that exist in the form of an online shop or store. You have a new feature here –  an electronic payment system. Indeed a complex form of the web app. The number of features, functionalities, scalability, integrating emails, push-notifications, CMS, etc. are taken into account while determining the costs incurred. You can expect anywhere between 10000USD and 50,000USD though flexibility depends upon the company you are availing of this service from!

6. Enterprise- Level-Web-Application

If you are a big corporate house, an enterprise, you might be willing to invest a good sum, flexi-time for getting your web-applications developed. Whatever, it involves a complex, huge and innovative process. Many phases of development, testing, high-level of research & development, technology know-how, implementation at several stages, all factors that are accountable for determining the development cost.

Bottomline

Determining the cost of web-application development is not an easy task though the estimation can give an ample scope to facilitate decision-making towards planning for one. It depends upon the app-types, project-complexity, elements custom-designs, functionalities, post-development maintenance, support, whether there’s an in-house team, outsourcing, etc. to finally arrive at the cost-part. After all, in 2021, the shift to online platforms is rampant, be it a business transaction, digital payment, or consumer preferences for eCommerce application, it is the best time to determine the cost for your probable web-application development for your future business.

Are you a Start-Up, SMB, or Enterprise looking for a customized web application for your business? Explore from our extensive range of customer-centric & business empowering web-application-development-services.