35 Must-Have and Advanced Features for Banking Apps

Let’s be honest: most banking apps get the job done, but that’s about it. You log in, check your balance, maybe pay a bill, and then close it, hopefully before it drains your battery.

But here’s a thought:

What if your banking app didn’t just work, what if it actually made managing your money easy, secure, and even a little enjoyable?

We live in a world where we order food, book rides, and connect with friends all from our phones, shouldn’t banking feel just as easy and convenient?

The best banking apps today aren’t just digital passbooks. They:

→ Save time (No more calling support just to block a card)

→ Save money (Let you track spending before it surprises you)

→ Keep you safe (Because “password123” isn’t going to cut it anymore)

Let’s break down what truly makes a banking app feel modern, reliable, and user-friendly, starting with the must-haves and moving into the delightful extras.

Must-Have Features in Banking Apps (Essential for Success)

These are the non-negotiables. If your app doesn’t offer these, users will notice, and possibly switch to one that does.

1. Secure Login & Authentication

When it comes to money, trust starts with login. If users don’t trust your app’s security, nothing else matters.

• Biometric login (Face ID, fingerprint): Nobody wants to fumble with long passwords, especially on the go. That’s why features like Face ID or fingerprint login are so appreciated, they offer security and speed in one tap or glance.
• Multi-factor authentication (SMS/email OTP, app-based verification): Add in multi-factor authentication (like OTPs sent via SMS or a secure app), and you’ve got another layer of protection that reassures users.
• Strong encryption (SSL/TLS): Strong encryption protocols like SSL/TLS make sure sensitive data can’t be intercepted by hackers during transactions.

2. Account Management

At its core, a banking app is about access. Users want a clear, real-time view of their money, without any delays.

• Real-time balance & transaction history: Nobody likes outdated balances causing overdraft surprises.
• Multi-account support: Giving users the ability to manage multiple accounts, savings, checking, credit cards without logging in/out.
• Download statements (PDF/CSV): People need these for things like tax filing, loan applications, or personal budgeting.
• Instant account freezing: If a user loses their phone or suspects fraud, they should have the ability to freeze or lock their account instantly.

3. Money Transfers & Payments

Users now expect the process of moving money and funds to be as quick and intuitive as sending a message.

• UPI, QR code, and NFC payments: Scan, tap, or enter a phone number without entering account details.
• Peer-to-peer (P2P) transfers: Splitting dinner bills or sending rent? Should take <10 seconds.
• NEFT/IMPS/RTGS (India) or ACH/Wire (Global): Different users have different needs. Some may want instant transfers (IMPS or UPI), while others are okay with next-day options like NEFT, RTGS, or ACH transfers. Give them the flexibility to choose.

4. Bill Payments & Recharges

Paying bills is one of the most common banking tasks, and users want it to be very easy. It’s about convenience, and helping them avoid late fees.

• Pay utilities, credit cards, mobile/DTH recharges: A great app should let users pay bills or dues without jumping to another site or app.
• Schedule recurring payments: Let users schedule recurring payments for things like rent, subscriptions, or tuition, so they don’t have to remember due dates every month.

5. Transaction History & Filters

When a user wonders, “Where did my money go?”, your app should have the answer in seconds.

• Searchable logs: Give them a smart, searchable transaction log, so they can type “Zomato” or “₹2,000” and find what they’re looking for right away.
• Date/amount filters: Add date or amount filters, and they can even do monthly expense checks or review their spending habits. Help users reconcile spending during tax season or budget reviews.
• Export options (PDF/CSV): For those who track finances in spreadsheets or budgeting apps, offering export options is a small touch that adds huge value.

6. Real-time Alerts & Notifications

Banking surprises are rarely good ones. Your app should help users stay in control with real-time alerts.

• Real-time transaction alerts: Letting users know immediately when a payment goes through for instant clarity.
• Low balance warnings: Avoid embarrassing declined payments by notifying them about low balance.
• Fraud detection alerts: Aware users if there’s unusual activity on their account. For example, If there’s a large purchase or a login from another country, the app should send a notification asking, “Was this you?” This not only builds trust, it helps stop fraud in its tracks.

7. In-App Card Management

Losing a card used to mean a long call to customer support. Not anymore.

• Block/unblock cards instantly: Users expect to block or unblock their card right from the app. Misplaced wallet? Freeze the card instantly. Found it later? Unblock with one tap.
• Set spending limits: Give users the ability to set spending limits or restrict certain types of use like online, ATM, or international transactions. This is especially useful for parents managing their teen’s card or for travelers watching their budget.
• Virtual/digital cards: Offering virtual cards also adds a layer of security for online purchases. If something looks sketchy, they can delete the card and generate a new one without any hassle.

8. Built-In Security

Security isn’t just a feature, it’s the backbone of your banking experience. A single breach can destroy trust forever.

• End-to-end encryption: Beyond login protection, users expect end-to-end encryption for all transactions and personal data. That means even if someone tries to intercept the data, it’s completely unreadable.
• Auto-logout after inactivity: Also, add auto-logout features for inactive sessions, just in case someone leaves their phone unattended, preventing misuse.
• AI-based fraud detection: And for a more proactive approach, leverage AI-powered fraud detection that flags unusual spending patterns and helps prevent financial damage before it happens.

9. 24/7 Customer Support

Let’s face it: financial issues don’t wait for business hours. Whether it’s a failed UPI payment or a blocked card, users want help when they need it.

• In-app chat (AI + live agent): Offering in-app chat with instant answers via AI, and escalating to a human agent when things get complicated.
• Callback requests: No one enjoys waiting on hold. Include options like callback requests for those who prefer talking.
• FAQs & troubleshooting guides: Provide an FAQ section so users can solve common problems on their own.

It’s all about giving them the freedom to choose how they get help, and making sure they never feel stuck.

10. ATM/Branch Locator

Sometimes users just need to find cash or speak to someone face-to-face. Make that easy.

• GPS-based search: Use GPS to locate nearby ATMs and branches, especially those that don’t charge withdrawal fees.
• Operating hours & directions: Show operating hours and navigation directions, so users don’t show up to a closed location or waste time searching on Google Maps.

It’s a small feature that shows you respect their time.

11. Mobile Check Deposit

While digital payments dominate, some users still get paid by check, and they shouldn’t have to visit a branch for it.

• Scan checks via camera: Let them deposit checks by scanning them with their phone camera. 
• Clear instructions: Guide them through the process with auto-cropping, glare detection, and instant confirmation so they’re not left wondering, “Did it go through?”

12. Budgeting & Spending Insights

Users don’t just want to see their balance, they want to understand where their money is going.

• Automatic expense categorization: With automatic expense categorization, users don’t have to label each transaction. It’s done for them, grouped into food, entertainment, travel, etc.
• Monthly reports: Add monthly spending reports or gentle nudges like, “You spent 30% more on takeout this month,” and suddenly, the app isn’t just managing money, it’s helping users build better habits.

13. Seamless Experience on iOS, Android, and Web

Users expect to access their banking experience anytime, on any device, whether they’re on their phone, tablet, or laptop.

• A truly great app offers a consistent, smooth experience across iOS, Android, and the web, with familiar layouts, synced data, and no feature gaps.
• Whether checking balances on a commute or scheduling a payment from a desktop, the app should work reliably and look polished everywhere.

Good-to-Have Distinctive Banking App Features (That Add Competitive Advantage)

These features aren’t strictly essential, but they delight users, set your app apart from competitors, and build long-term loyalty.

1. Personal Finance Management (PFM)

• Help users stay in control of their money with built-in budgeting tools and savings goals.
• Automatically categorize spending (like groceries, bills, or dining) so users can see where their money goes.
• Easy-to-understand visuals like charts and trends make financial habits more transparent and manageable.

2. Voice Banking & AI Chatbots

• Let users complete tasks hands-free with voice commands like, “Send ₹500 to Paul.”
• Smart chatbots can handle balance checks, transaction queries, and even offer spending advice, no need to wait for customer support.
• Provide real-time insights and personalized saving tips based on spending patterns.
• Predict upcoming cash flow and suggest adjustments if spending trends look risky.

3. Investment & Wealth Management

• Offer access to fixed deposits, SIPs, mutual funds, or even stock trading, right inside the app.
• Let users view and track their investment portfolio in real-time.
• Introduce micro-investing features that round up spare change and invest it automatically.
• Add robo-advisory tools for those who want low-maintenance, automated investment management.

4. Virtual Debit & Credit Cards

• Give users instant access to a digital card after account creation, no need to wait for physical delivery.
• Allow the creation of disposable card numbers for added security when shopping online.

5. Loan Applications & Tracking

• Let users apply for personal, car, or home loans directly from the app, fast and paperless.
• Show real-time loan application status, and offer built-in EMI calculators for planning.

6. Personalized Rewards & Cashback

• Recommend cashback offers and discounts tailored to where users actually spend.
• Track rewards points, allow redemptions, and show them clearly in the dashboard.
• Partner with merchants to offer exclusive deals that feel relevant and valuable.

7. Subscription Management

• Help users identify and track recurring subscriptions like Netflix, Spotify, or gym memberships.
• Send alerts for upcoming renewals, price increases, or duplicated charges.
• Make it easy to cancel unwanted subscriptions in just a few taps.

8. Financial Literacy & Education

• Share useful in-app content like blog tips, short videos, or savings guides to help users make smarter decisions.
• Offer personalized financial advice based on their behavior and goals (e.g., "You could save ₹5,000/month by adjusting dining spend").

9. Digital Wallet Integration

• Let users link Apple Pay, Google Pay, or Samsung Pay for faster checkouts and contactless payments.
• Provide virtual card numbers for secure, one-tap online transactions.

10. Split Bills & Group Payments

• Make it easy to split bills with friends or roommates, perfect for dinners, rent, or trips.
• Create shared goals like group travel funds or event savings where everyone can contribute.

11. Credit Score Monitoring

• Let users check their credit score right inside the app, with no impact on their rating.
• Offer practical tips on how to build or maintain good credit health like paying off balances or reducing usage.

Bonus/Advanced Features that Can Make Your Banking App Users Favorite

These forward-thinking features aren’t expected by most users, but when done right, they impress, create loyalty, and show that your banking app is truly built for the future.

1. Carbon Footprint Tracking

• Help users understand the environmental impact of their spending by showing estimates of their carbon footprint.
• Offer insights and tips on how to reduce it like choosing eco-friendly merchants or reducing certain types of purchases.

2. Sustainable Banking Options

• Let users opt into features that support green initiatives like investing in ESG funds or planting a tree for every ₹1,000 spent.
• Show transparency in how the bank supports sustainable practices.

3. Crypto Wallet Integration (where regulation allows)

• Give users the option to store, track, or transact with cryptocurrencies securely within the app.
• Provide real-time crypto market insights and educational tools for first-time users.

4. Gamified Saving

• Make saving money more engaging through fun challenges, progress trackers, and achievements.
• For example: “Save ₹500 a week for 4 weeks and unlock a badge” or level-based goals for emergency funds.

5. Donation Rounding

• Let users automatically round up transactions to the nearest ₹10 or ₹100 and donate the difference to a charity of their choice.
• Make giving simple, seamless, and trackable within the app.

6. Open Banking & API Integrations

• Allow users to securely connect their bank account with other trusted financial tools and apps.
• Share data with user consent to create a more personalized and connected financial experience.

7. Third-Party Finance App Integration

• Easily link with tools like Mint, QuickBooks, or accounting apps for simplified expense tracking and budgeting.
• Help users manage both personal and business finances from one place.

8. Unified View of Multiple Bank Accounts

• Let users link and view balances from all their bank accounts, even from other banks within your app.
• Offer a single dashboard for better money management across institutions.

9. Dark Mode & Accessibility Settings

• Support dark mode for users who prefer low-light interfaces or want to save battery.
• Offer high-contrast mode, screen reader compatibility, and adjustable text sizes for users with visual impairments.
• A banking app should work for everyone, regardless of ability.

10. Customizable UI for Visually Impaired Users

• Go beyond basic accessibility by letting users adjust color schemes, layout sizes, and content spacing to suit their needs.
• Offer a truly personalized experience for those who need more visual support.

11. AR/VR Features

• Use AR to help users locate nearby ATMs or branches with real-world overlays through their phone camera.
• Provide virtual tours of bank branches or walk-throughs of how to use app features using VR.
• It’s a futuristic way to make banking more engaging and informative.

Final Checklist for Banking App Development Features

Before you start building or redesigning your banking app, use this checklist to ensure you’re covering everything users expect, and more.

This list is about adding value, trust, and convenience that today’s users expect from their banks.

Ready to Build a Feature-Rich and User-Centric Banking App?

The best banking apps don’t just manage money, they empower people to make smarter decisions, feel in control, and trust their financial tools. Whether you're a digital-first fintech startup or a traditional bank going mobile, your app’s design and functionality will define how users see your brand.

At Softices, we specialize in developing software applications for banks, delivering secure code, seamless UI/UX, and future-ready features that users love to use (and recommend).