Development of a Secure Mobile Banking Platform with Comprehensive Digital Financial Services

The client faces challenges in delivering a fast, secure, and comprehensive mobile banking experience that supports quick account setup, secure identity verification, diverse financial transactions including cross-border payments, and integrated card management, all while maintaining high security standards and operational efficiency.

A mid-sized retail bank aiming to enhance its mobile banking offerings and improve customer onboarding, transaction, and account management experiences.

• Enable account opening in under 5 minutes through mobile platforms.
• Implement secure identity verification via video call or similar biometric methods.
• Support direct loan applications within the mobile app.
• Facilitate international and domestic payments, including SEPA transfers.
• Allow users to withdraw cash or deposit funds in retail stores via barcode scanning.
• Integrate digital wallet functionalities such as mobile payment options (e.g., Apple Pay).
• Provide comprehensive card management functionalities, including activation, deactivation, and limit adjustments.
• Enable users to activate and deactivate overdraft facilities easily.
• Streamline money transfer processes with emphasis on security and user convenience.

• Quick account opening process with minimal user input.
• Identity confirmation via short video call or biometric authentication.
• In-app loan application and approval system.
• Support for international payments including SEPA transfers.
• Barcode generation for retail cash withdrawal and deposits.
• Seamless integration with digital wallets and mobile payment systems.
• Card management features such as activating/deactivating and setting limits.
• Overdraft activation/deactivation with real-time control.
• Secure and streamlined money transfer processes.

• Identity verification services (video call and biometric authentication APIs)
• Payment gateway providers supporting international and SEPA transfers
• Retail store barcode scanning and processing systems
• Digital wallet and mobile payment platforms (e.g., Apple Pay)
• Card issuer and management systems

• System performance supporting high concurrency with transaction processing times under 2 seconds.
• Security standards compliant with financial industry regulations.
• Scalability to support a growing user base with minimal latency.
• Reliability with 99.9% uptime SLA.
• Data privacy and encryption compliance.

The new mobile banking platform is expected to significantly improve customer onboarding speed, with account setup under 5 minutes, enhance security through biometric verification, and expand transaction capabilities including international payments and retail deposits. This is projected to result in increased customer satisfaction, higher transaction volumes, and a competitive advantage in digital banking services, leading to measurable growth in user engagement and retention.