Finance is everywhere. If you purchase something online, you will have to make the things feasible, and properly manage to get everything properly.
If you have a finance management application then, all of your financial information will be kept within it. Therefore, app development for financial services is very crucial and we would acquire you to research more about it.
Bahrain is a gulf region and it has a lot of newly launched startups that are using financial management applications to make everything possible and managed.
A financial manager is hired to manage things and get everything online through the palm of their hands.
So, if you think you require a professional custom app developer or someone to explain to you related to its core features then, we are here for the rescue!
In this blog we are going to discuss finance management app core features, so are you interested in discussing it with us?
Let’s get started with us.
What is a Financial Management App?
A financial management application is a software solution that is designed to help the users manage their finances and keep a track of the expenses along with budget creations for years and monitor the debit and credit along with investments.
Such applications will help you with the tools for saving the money, and generating the income and improvement of the financial well being.
- Expense tracking: finance management application comes with expense tracking, and records the past expenses and a lot of other things.
- Budgeting: users can use a financial app to set up finance goals, and allocate the budgets for different areas.
- Investment Tracking: financial management applications allow the users to collect their investments and see where it’s being made. Moreover, you can monitor the expenses through the dashboard available on the web app.
- Financial Reporting: lastly, the financial management solution comes with analytics that allows you to manage the weekly or monthly reports in order to automate manual working in a jiffy.
Financial Management Application’s Core Features
In this section, we are going to discuss the finance management solution’s core features that are giving the users a great opportunity and sense of relief.
- Account integration —
You can connect your bank accounts and credit or debit card to integrate the banking payments made within a day, month or week. It allows the users to get a platform where they can see and monitor everything seamlessly.
- Real time tracking —
The finance management application comes with real time tracking of all the transactions made online in different places. By using the app, they will get an instant update on the budget and based on that, they can manage the finance and minimize excessive spending to save up more.
- Security Measures —
A mobile app development company, works on the secured management of your credit or debit cards transaction. Keep in mind that your end users are trusting you with their daily transactions and if anything is missed or any malware attack is done, their hard earned money is compromised.
- Notifications and Alerts —
If you are paying bills online for utilities and other monthly expenditure then with the finance management application, you will get instant notifications. Even if you are low on balance then, it will show you a notification that you should recharge it for better management.
- Expense and Data Visualization —
The fifth amazing benefit of using a finance management application is that you can automatically organize the finances and visualise the data for better analytics and data-driven decision making.
Advanced Features of Finance Management App
We already discussed the basic features related to finance management apps? Now let’s start discussing about the advanced functionality:
- AI based algorithms —
Using the AI based algorithms you can get a prediction of the user’s future actions and it will help them save up time and make informed decisions without any hassle.
- Investment management tools —
Finance management applications have investment management tools that help them monitor the statistics, and only allow them to invest in the areas where it’s beneficial.
- Goal settings —
Finance management app enables the users to set goals based on their finances and overall monthly expenditures. Based on the preferences they can see if they are reaching the goal statements or not.
- User profile customization —
Finance management apps allow the users to customize their application with extended features and see if they are making the right choices or not. They can easily do any type of personalization within the app.
Examples of Finance Management App
In this section, we will discuss the different types of finance management apps.
- BenefitPay:
A mobile app development company in Saudi Arabia also works on the design and development of finance management apps like BenefitPay, that offers finance services with fluctuating download trends.
- STC Pay BH:
The second type of app that we are going to discuss is, stc, that provides variable download patterns starting from 2,000 downloads back in April 2024 and ending with 1,200 downloads in June 2024.
- ila Bank:
The third finance management app that we are going to discuss is, ila bank, that displays the steady growth in almost everything. The patterns are made, and it has around 1,800 downloads overall till April.
- NBB Digital Banking:
Lastly, the NBB digital banking app that maintains the trends of downloads reaching to 982 downloads in total as of 2024.
Wrapping Up
And we are done for the day. We assume that you are now clear with the finance management app and its core feature with advanced functionalities as well.
Not to forget, Al Salam Bank is another amazing banking app that comes with finance management with general fixed and a lot of other extended functions.
We tried to cover up everything within the blog, and if you think we have missed anything then feel free to share with us in the comments section. We would love to hear it back from you.
