part 4 Mobile application – once a gadget, now a necessity?

Initially, banking applications were treated by both customers and banks themselves as a technological novelty, which is why the first banks to provide such a possibility were considered innovative (even though they only provided a few basic functions).

Well, times have changed… Banking apps have ceased to be merely an attractive toy and have begun to serve customers as a fundamental work tool. In some ways, banks can no longer avoid them.

This is happening for two reasons. First, a large portion of customers already have a smartphone and want to use it for even the most makeshift tasks. Second, technology has advanced, resulting in an increase in the technical capabilities of mobile phones. Recognizing this, banks have decided to develop the transaction functionality of their mobile applications, which, as data shows, translates into more and more frequent use of this solution by customers. Where there is a need and opportunities, there are users.

What features do banks provide on their phones? Let's find out.

Daily financial control

Many mobile banking app users value the ability to control their finances regardless of time and place. all mobile banking applications available on the market provide customers with this option: users can check their account balance and history without any restrictions.

Checking your balance is one of the most popular activities performed via mobile apps, so most apps offer this option without logging in. Until recently, this feature was only available to customers. mBank and ING Bank Śląski, currently the balance indicator visible from the perspective of a non-logged-in user or a desktop widget displaying the account status is slowly becoming a standard on the market, as such a possibility is already provided by banks BZ WBK, Millennium and PKO BPDespite the convenience of this solution, it raises doubts that an unauthorized person will read such information. While these concerns may be justified, banks are proposing solutions that minimize the risk. First, all apps that enable this feature allow it to be disabled, and second, they offer options that ensure the account balance is only viewable by the account owner. mBank, BZ WBK, PKO BP and Millennium provide the function of displaying the account balance in percentage values, whereby the application user defines the value for 100%, so only he knows what amount is hidden under 40%The ING app also deserves a mention, as the account balance before logging in is displayed on a screen with minimum and maximum limits (set individually). The more orange tiles, the more money the user has in their account. ING can also be read by installing a special widget on the desktop.

App BZ WBK introduced one more security measure, namely the account balance and information about the last operation performed are displayed only after dragging down the application screen.

Transfers and payments

Another popular category of functionality is transfers and various types of cashless payments. All Banks enable their customers to make transfers via a mobile application, what's more - many of them offer certain solutions thanks to which you can easily and quickly top up your phone whether to make a transfer to the tax office or ZUS. Fast transfers to ZUS or US This is a very practical feature, but for now, application clients will not be able to use it. PKO BP, BZ WBK or Alior BankMobile apps are also a solution for all those who have trouble remembering long account numbers – all thanks to features such as transfer to phone (this option is offered by ING, mBank, PKO BP, BZ WBK and Millennium) or payments via QR codes, which is almost a standard on the app market. However, the app that deserves a special mention here is Millennium Bank, which allows you to create QR codes yourself.

Saving and multiplying your savings without leaving home

Apps are also increasingly becoming a tool through which we can use additional products. We can now use our phones make a deposit (this function is not available only ING Bank), apply for a loan personal (only customers will not do this ING, Alior and SMART BANK) whether to repay credit card debt.Bank Pekao SA It also provides contact forms for contacting investment products and brokerage houses. The app even offers features such as deposit or loan calculator, thanks to which the customer can independently simulate an offer designed especially for him.

Some applications also allow customers to issue instructions such as: card activation or PIN change, which for a long time could only be done via a hotline. Such activities are made possible by banks ING, mBank, Bank SMART and MillenniumThe application is also a practical tool in blocking the card, this function can be used by customers ING, mBank, Pekao SA, Millenniumand customers PKO BP have the ability to quickly dial a phone number for this purpose via the application.

Everyday shopping

Mobile apps also offer features that could soon replace payment cards (at least to some extent). Thanks to BLIK and NFC technologies, app users can make a payment in the store. This option is not available to its clients only SMART Bank, whereas Pekao SA has a separate mobile application for such payments.

Distinctive features on the app market

Individual apps also offer features specific to a given bank. A new feature is certainly worth highlighting. mBank That is "mLine on a click", This means you can connect with a consultant as a verified customer, which allows you to skip the verification step on the hotline, which is often disliked by customers. A new feature of the application ING There is a link to the online transaction service without the need for additional logging in. Other features that ING app users like are PUSH notifications, informing about operations on the account and the function "split expenses", thanks to which we can store receipts for shared purchases in the application's memory and settle them in a convenient way. The advantage of the application SMART Bank is above all voice loginand applications Alior Bank logging in using a personalized template. He also has his own idea for logging in Millennium Bank, where the user can log in using fingerprintThe Millennium app also has the advantage of tutorial, which provides the user with assistance in using the application. Furthermore, the application allows for personalization by, among other things, changing its background. Also worthy of special mention is Bank Pekao SA, as it places great emphasis on offering new products, such as a review of specially prepared offers, a review of other Bank applications, deposit and loan calculators, the ability to familiarize yourself with products, and dedicated contact forms for investment matters. Pekao SA also allows you to set favorite features or choose the menu display format (list or circle). It is also worth mentioning the application BZ WBK, thanks to which we can make mobile purchases (e.g. buying a ticket), but above all, the main distinguishing feature of this application is the online advisor function, with whom we can contact in the form of audio, video or traditional chat.

Below, we present a comparison of the key functionalities of all the banks included in the study. Please note that this represents only a fraction of the features available in the mobile apps.

If you are interested in a detailed analysis of the mobile application market (both in relation to the financial sector and other industries), we invite you to cooperate.