Technology has left deep imprints on the financial services sector, like in the case of banking. The introduction of mobile apps, designed for specific purposes has led to an increase in the use of smartphones. One among them is a banking app, and it is crafted to offer practically almost all services a bank provides. With an increase in the number of smartphone users, banks, like IDFC FIRST Bank, with the help of a mobile banking app are successful in having more customers shifting to a mobile banking service today.
Technology helps banks connect with customers in a better way. People today avoid going to banks and spending much time on banking services. They like doing financial transactions at their convenience, and banks reach them by providing all possible financial products digitally through a net banking app.
You can now manage your money easily by registering with the IDFC FIRST Bank mobile app and making the best use of it by:
- Linking all your bank accounts for easy accessibility
One of the most prominent net banking services offered by IDFC FIRST Bank through its app is easy to access your bank accounts with the same bank or different banks by linking them. With this, you can have a quick overview of the balances, track the forthcoming payments, monitor expenses, and create a budget.
By being able to access your savings accounts from one place, you can manage your money by transferring funds between accounts instantly. Further, the mobile app also assists you in starting a mobile banking account with zero balance and minimal documentation.
- Categorization of bank transactions
The digital banking app from IDFC FIRST Bank enables you to harness the power of technology to manage your finances. Other than just paying bills, transferring funds, and saving money,you can track your expenses to know where your money is going and budget carefully. The app uses artificial intelligence technology to automatically categorize expenses incurred,identify them, and assign the payments you make against them. This makes it easy to prepare a budget and reduce certain expenses.
- Paying bills on time by setting reminders
You have to take care of several bill payments that incur every month. Not paying them off on time will lead to late payment charges, which will reduce your income in the long run. Using a net banking app, you can set early reminders to pay your utility bills like electricity, water, and mobile phone recharge on time. The IDFC FIRST Bank app also helps you set up the AutoPay or Ad-hoc payment option to pay your utility and credit card bills automatically on the due date.
- Using the income and expenditure analyser
IDFC FIRST Bank is known to offer one of the best mobile banking services by effectively analysing your expenditure and income. It helps you to import transactions from your credit card statements and bank accounts and determine whether they are feasible with the income you receive. This gives you a chance to learn to spend money wisely based on your income and financial goal. You can use any excess money in your savings account to invest and earn high returns.
- Offering options for investments
The other way to make the most of a banking app is to invest in mutual funds, sovereign gold bonds, unit-linked insurance plans, and fixed and recurring deposit schemes. They help you maximize your income.
The features explained above will help you plan and attain your financial goals easily. You can download the IDFC FIRST Bank mobile app today to get more of it.