May 10 - Mobile banking is expected to triple in the next five years and 46 percent of all U.S. bank account holders are expected to use mobile banking by 2017, making mobile banking one of the largest consumer market in financial services today. Forty-four percent of smartphone/tablet owners who switched primary banks in the past year said that mobile banking was important or extremely important in their decision to switch banks. The ability to check balances with a mobile device is selected as a key mobile feature by 37 percent of consumers who switched banks for mobile banking.
Mantra Information Services, a custom software development company based in New Jersey, understood this demands and has developed a full-featured mobile banking product, mBank, for iPhone and Android smartphones. This mobile application is developed as a cost-effective solution for small to medium-sized commercial banks and credit unions to provide their customers with the ability to conduct banking services using mobile phones.
By implementing mBank, banking institutions can provide consumers with a comprehensive, flexible mobile banking experience that delivers the industry’s widest choice of services, viewing account summary and transaction details, scheduling and paying bills, managing multiple bank accounts, transferring funds between accounts, locating the nearest bank branch and making deposits. Each bank can customize this application to include its logo and specific color scheme to match the bank's brand. With a product like mBank, banks can save time and money that would go otherwise in to building a mobile banking app from scratch. In a nutshell, mBank will become a tool for small-to-mid size commercial banks and credit unions to stay competitive – without breaking the bank.
Tim Miller, vice president of mobile solutions at Mantra, said, “mBank is a perfect solution to help the smaller banks compete with the big guys and able to retain their customers. They can inexpensively provide their banking customers with a secure mobile banking solution that can help drive profitability, improve loyalty, distinguish their brand and ultimately increase revenue. The prediction for mobile banking is that mobile banking users will exceed one billion in 2017 - that’s almost 15 percent of world population. That’s a market share that a bank can’t afford to miss out on. If your bank has yet to offer a mobile banking solution, you should speak with us. We can absolutely help you.”
mBank is a full-featured mobile banking solutions. mBank app allows banking customers to:
Mantra will allow banks to select features for their mobile banking solution, in case if they do not need and not have infrastructure to support all mBank features. Mantra will also work with banks if they want to customize or add more features.
The mBank application is designed to help small to medium-sized banks and credit unions with a cost-effective mobile banking solution. Visit www.mantrais.com/mobilebanking for more information.
About Mantra Information Services
Mantra Information Services is a custom software and mobile app development company based in New Jersey. With our expertise in enterprise software development, mobile applications, cloud based software-as-a-service solutions; we help businesses improve performance through custom and innovative technology solutions. More information can be found by inquiring at 908-450-7878 or on the Web at www.mantrais.com.