Top Features Which Can Make Mobile Wallet More Secure

As the ecommerce landscape continues to change, it is more important than ever for your financial institution to be able to keep up, so you can continue bringing better services and experiences to your customers. One of the ways to do this is by having your own mobile wallet developed specifically to reflect your organization’s brand and objectives. Mobile wallets help simplify and speed up the payment of goods and services. They are apps that allow your customers to link their digital money or debit and credit cards, or other payment methods, allowing them to go cashless or not carry physical cards.

Developing your own mobile wallet will require taking the steps to ensure its security. Certain features will make your app secure and safe to use, so you can protect your customers’ personal data and privacy and make them feel more valued by your financial institution. Here are some of the top features you should consider for secure mobile wallets:

• Synchronized data – The app should be able to store the customer’s crucial data, like their credit and debit card details, bank account number, and passwords, so it is easier to use them. It can have all that information synchronized with other devices or platforms that they use, like their desktop. The mobile wallet can have the data automatically or manually synced, depending on the user’s preference.

• Locations services – GPS tracking and navigation can be helpful to users of your app. Using these features, it may be easier to pinpoint the location of the user when the payment was made. In some cases, they may help customers find establishments that accept your e-payment services.

• One-time passwords – OTP is a handy security feature that will ensure secure logins to the mobile wallet. When a user logs in from another device, a one-time password can be sent to their mobile phone. This can be helpful in preventing unauthorized logins, in case the action was not performed by the user itself.

• Two-factor authentication – Just like one-time passwords, two-factor authentication provides an additional layer of security for mobile wallets. It ensures that the user’s account is only accessible on devices that they use and trust.

The Importance of Push Notifications on A Cell Phone

Engaging your customers can be challenging—especially when they see your promotional message as intrusive and bothersome. Rather than using the conventional ways to promote a service or product or share information, consider using push notifications that allows you to communicate with your customers through more advanced channels like social media, email, SMS, or MMS. A notification server can leverage newer communication channels to help financial institutions connect with prospective and existing customers. Besides offering interactive online services, like transaction confirmations and balance inquiries, it can help your bank disseminate promotional and marketing messages to prospects, while enabling cross-selling and up-selling to the existing customers.

With push notifications, banks can curb their expenses while delivering better user experience. Financial institutions can minimize the need to rely on third-party customer service representatives and call centers, and do without bulk actions or services that involve repetitive actions. Likewise, they can structure products in a way that the notification services can be requested by the customer for a fee. You can enjoy the same advantages by choosing an efficient push notifications service. Customers can also benefit from push notifications on a cellphone, in terms of convenience and the quicker resolution of service requests and prompt responses to their concerns.

When choosing a push notifications server, make sure that it will provide an efficient and practical way to connect with your customers, while enabling flexibility to communicate via channels like email, social media, SMS, and MMS. One of the best notification servers is designed specifically for use with business, financial, and enterprise applications, and built on a scalable, secure, and reliable platform that can be used by any institution, regardless of size. Moreover, it can be integrated with different applications, while ensuring reliable and fast data transmission. The server works on commonly used platforms, like Linux, UNIX, and Windows, with an interface that enables simple administration and maintenance for both system administrators and users.

Top 5 Features of Omnichannel Banking Software

Your bank could be missing out without mobile banking for its customers. This solution lets people do banking while on the go. It lets them view their account, transfer money, make payments, and in some cases, it may even let them check their investments with a bank. Using an omnichannel banking software lets you introduce a convenient platform that your customers can use conveniently. Once implemented, it should help you serve your clients better. Just be sure to use a software that has these crucial features:

1. Easy integration – Go for an out-of-box platform that lets you roll-out its mobile banking capabilities immediately. That way, you can minimize unwanted interruptions that can negatively impact your service and the customer experience. The software can be integrated with your legacy core banking platforms and componentized architectures. Make sure that the software is PCI-DSS compliant and that SLAs can administer support for it.
   
   
2. Flexibility – A good omnichannel banking software provides a single framework that is versatile and applies a multi-play approach for you and your customers. With an all-in-one platform, you can eliminate the need to install multiple apps or platforms for different purposes. The software can be offered on different platforms, too, such as iOS, Android, IBM Mobile First Platform, and HTML.

3. Round-the-clock access – The software makes it possible for customers to do banking at anytime, anywhere, regardless of the day. This helps improve customer engagement.
   
   
4. Cloud deployment – An omnichannel banking software that enables both cloud-based and on-premise deployment for more flexibility in terms of access. With the cloud, data can be accessed by your customers and authorized banking employees from anywhere, regardless of the device used. This way, stakeholders can easily explore up-to-date information no matter where they are.

5. Biometric authentication – Privacy and accounts are protected with enhanced security methods like multi-factor and biometric authentication. This may help prevent unauthorized access to banking accounts online or via mobile devices.

Latest Industry Trends About Enterprise Mobile Application Development

Enterprise mobile technology has been continuously evolving. Developers keep on bringing something new and better to the table—and a business, you have to keep up. Here are the latest industry current and future trends in enterprise mobile application development. Some are already here, and some are coming very soon:

·         HTML5 and Hybrid Mobile App Development

Many enterprises will shift their focus to hybrid mobile apps using HTML, Java, and CSS. Larger enterprises should consider shifting to this kind of mobile app, which can work on multiple platforms.

·         Internet of Things or IoT

IoT integrated mobile applications offer a better experience by allowing multiple connected electronic devices, remote control, monitoring, and automation. This trend has already started and is expected to grow rapidly. IoT will continue to evolve, and more companies are going to use mobile apps to manage these devices. 

·         Wearable devices

Smartwatches and other wearable devices will become more functional with new and better features. Users can now sync their mobile phones with wearable devices—but that’s not all. They'll also be able to access more and more data through their wearable device wherever they are. 

·         Mobile device management software

More companies are likely to implement BYOD policies that allow employees to use their smartphones, laptops, and tablets in their workplace. Since these devices are connected to the corporate network, security will continue to be a major concern. To address this, enterprise mobile software and application developers develop mobile device management (MDM) software solutions that are designed to increase the level of security and improve the management and monitoring of employee mobile devices. 

Thinking of investing in enterprise mobility solutions? Then it’s time to start searching for IT service providers. You can’t go wrong with a company that has over 20 years of experience in designing and implementing enterprise mobility solutions for various verticals.

https://www.consagous.com/blog/enterprise-mobile-app-development-trends-2019/

https://www.newgenapps.com/blog/top-10-mobile-app-development-trends-for-2018

https://financesonline.com/mobile-device-management/

Use Mobile Payment Apps Like A Pro! 5 Things You Need to Know

Mobile payments are increasingly becoming an attractive payment method, as evidenced by the many businesses that are implementing the use of mobile application for convenient, fast, and safe transactions. Recent statistics estimate mobile payment to be at $75 billion dollars, which is further projected to increase up to $503 billion by the year 2020. Adopting mobile payment technology might just revolutionize the way you deliver goods and services in your business and here are important things you should know about the use of mobile payment apps for business:

·         Exactly what can be considered as mobile payments in the context of business transactions? Mobile payments generally refer to mobile money transfers and mobile wallet transactions, which are regulated and facilitated through the customer’s mobile device. This can be through a peer-to-peer environment such as sending funds digitally via a mobile payment app or paying at a brick and mortar business by tapping your device to a point-of-sale unit to facilitate payment.

·         What about mobile wallets? A mobile or digital wallet is where your customers can store or add funds either by linking the account with their credit card or some other source of fund. Instead of using a debit or credit card to pay for purchases, customers can pay using their mobile device.

·         What kind of technology do mobile wallets use? Mobile wallets are powered by NFC or near-field communication technology, which basically enables two devices, particularly the customer’s device and the business’ payment reader to send information back and forth, wirelessly, so payments can be processed. This technology is very similar to RFID technology, thus making way for more and more contactless payments.

·         What about mobile money transfer? Mobile money transfer is also a subset of mobile payment, which enables mobile to mobile transfers, wherein users need only the same mobile app installed in order to process payment.

·         Why should you consider mobile payment apps for your business? Quite simply, mobile payment apps are the way of the future, providing businesses with a fast, efficient, convenient, and completely safe way to process transactions.

THINGS YOU DON'T KNOW ABOUT MOBILE WALLET APPS

Digital wallets have replaced the use of cash and written cheques to pay the bills. With digital wallets, people walk around with virtual money in the form of cards or mobile applications. All you need to do is log in into your account and transact the amount you want. Your recipient will receive the money within seconds. You can also receive money in your digital wallet, money sent from both local and abroad accounts.

Digital Wallets are Just like Your Physical Wallet

In your physical wallet, you keep debit cards, credit cards, loyalty cards and other types of private information. Many people think Digital wallets don’t contain such components, but the truth is that all these documents can be found on your digital wallet. A digital wallet stores all your data including deals and coupon codes so that when you need the information, you just log in and access it.

Proximity and Remote Wallets

Proximity wallets are the kind of digital wallets that allow a user to make transactions in premises located near the digital wallet service provider. You cannot make international money transfer so you need to use it locally and only within the specified area. Remote wallets have no borders and you can make payments to any part of the world. Wallets like PayPal and Skrill.com allow you to make global payments instantly. Almost all digital wallet service providers have made their wallets to operate remotely so that users can make global payments.

Digital Wallets Do More than Just Money Transfer

If you think digital wallets are just virtual financial stores, you are wrong. You can keep tickets for events and transport fees. You can access keys to your house and car, you can track your mobile phone and you can store your coupon information. Information like driving license, passport number, ID card number and employee ID can be stored in your digital wallet.

Looking at all those vital functions, you need to make sure you create strong passwords and authentication steps. Although digital wallets are convenient, they make you vulnerable to cyber-attacks. 

WHAT ARE THE ADVANTAGES OF SHAREPOINT CONSULTING SERVICES?

Microsoft SharePoint is a great platform if you are considering having a document management and collaboration platform in your company. It is browser-based, which is an advantage in itself as it lets you and your team collaborate easily no matter where you are while ensuring a centralized, secure, and protected environment for sharing documents and other important files for work. If you are not sure about adopting this platform, you may consider SharePoint consulting services to learn how it can be beneficial to your business.

SharePoint consultants can help you understand the way the platform works. Microsoft’s collaboration and document management platform are fully customizable to the needs of every organization. It is easy to use and provides a way to manage and coordinate tasks from a central location. That way, you and your team can collaborate in real-time, and make informed decisions easily and quickly. Once you are sure that the platform is good for your group, SharePoint consulting services can help in its implementation and configuration.

Seasoned SharePoint consultants are certified by Microsoft, so you can trust them with other tasks, like migration and upgrades, application integration, and other services that will guarantee a customized platform that will address your unique requirements. Consider working with consultants who have at least a decade of experience in working for organizations in your sector, so you can trust their knowledge and ability to understand the special needs of your business and optimize the solutions to your institution.

SharePoint consulting services are particularly useful to banks and financial institutions who want to improve their operations. Technological matters like cryptocurrencies, cloud-based platforms, and the transition from laptops and PCs to smartphones and wearable tech have all changed the landscape. SharePoint can effectively analyze and capture data in your enterprise, making it useful in helping your business keep up with the digital world.