Millennials and Generation Zs rely more on mobile banking apps than any other people to carry out financial transactions. They want to transfer funds from one account to another, make instant payments, open a digital bank account, and check transaction history with minimal fuss. Of course, technology has made massive inroads into the financial services sector, especially banking.
The increasing use of smart devices has led to the introduction of mobile apps specifically designed for certain purposes. A net banking app is one among them, and it offers most of the services a bank provides. Millennials’ preference for a mobile app online banking services is the latest digital banking features that meet their needs.
As technology evolves, so do the banks with AI-powered banking apps, which help people do all their banking from any place and at any time. IDFC FIRST Bank, with its latest mobile app, connects its customers by providing all possible financial products digitally. While giving access to the most advanced features, it also offers a personalized experience to the users like millennials who desire it the most. Here’s what they can do with the latest banking app from IDFC FIRST Bank.
- Connect all bank accounts and check balances
The IDFC FIRST Bank mobile banking app is known for secure app login authentication helping millennial users prove they are legitimate users. Once you log on to it securely, you can use its features to carry out banking tasks. The net banking app helps you to link your savings accounts with the same bank or different banks to get a quick overview of the balances. With this bank balance check application, you can check the recent transactions to track the latest balances.
By linking your bank accounts, you can manage money by transferring funds instantly from one account to another from one place. Moreover, the app also enables you to start a digital bank account with zero balance and minimal documentation.
- Categorize bank transactions
Millennials expect a mobile banking app to help manage their finances by controlling their spending. With the latest tools, the users can track expenses to know where their money goes and budget carefully. Using smart filters, they can categorize expenses incurred automatically based on the name, payment method, and description to plan and reduce certain expenses.
- Analyze income and expenditure
You can analyze your income and expenditure and manage your money effectively with the best banking app from IDFC FIRST Bank. You have a chance to learn to spend money wisely based on your financial goal and your income. The account balance check app also suggests investing any excess money in your savings account to earn higher returns.
- Schedule bill payments
Millennials are more into online shopping and payments using net banking. They use credit cards for buying goods and services and paying later. They may miss the due dates of credit card bill payments and may incur late payment charges, which may erode their savings in the long run.
With a net banking app, you can set early reminders to help pay your bills on time. Other than this, you can also set up the payment of both utility and credit card bills to pay them automatically on the due date.
- Make investments in securities
The IDFC FIRST Bank mobile banking app also helps you invest in mutual funds of various types such as equity and debt funds, large-cap, mid-cap, and multi-cap. Apart from these, you can also invest in sovereign gold bonds, fixed and recurring deposit schemes, unit-linked insurance plans, and initial public offerings.
Millennials look for mobile app online banking features that can meet their modern banking needs and offer a personalized experience. IDFC FIRST Bank mobile app is designed to fulfill them at the best possible.