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6 Mobile Banking App Features: Credit Score Monitoring, Money Management, and More

Mobile banking apps have become an essential part of our lives. They allow us to check our balances, transfer money, pay bills, and more from the convenience of our phones. Mobile banking allows you to check on your accounts from wherever you are, and it allows you to access your money from your fingertips. Different financial institutions have various features to choose from and you can usually customize your features to fit your financial needs. But what are the most important features to look for in a mobile banking app?

Features To Look For in a Mobile Banking App

Here are six key features that you should consider when looking for a mobile banking app:

1. Credit Score Monitoring

Your credit score is a number that lenders use to assess your creditworthiness. A higher credit score means that you are considered a low risk borrower, and you may qualify for lower interest rates on loans and credit cards.

Many mobile banking apps offer credit score monitoring as a free or premium feature, and at Leaders, our app uses FICO® score monitoring. With FICO® score monitoring, you can track your score over time and see how your financial habits affect it. You can also get insights into how to improve your score.

If you are serious about improving your credit score, then FICO® score monitoring is a valuable tool. It can help you stay on track and make informed decisions about your finances.

Here are some of the factors that affect your credit score:

  • Payment history: This is the most important factor in your credit score. Make all of your payments on time, in full.
  • Amounts owed: Keep your credit utilization low. This means using no more than 30% of your available credit at any given time.
  • Length of credit history: The longer your credit history, the better.
  • New credit inquiries: Too many new credit inquiries can hurt your score.
  • Types of credit: A variety of credit types is good for your score.

By understanding the factors that affect your credit score, you can make informed decisions about your finances and improve your score over time. Remember to be patient, as improving your credit score does take time and diligence.

2. Money Management Tools

Another important feature to look for in a mobile banking app is money management tools. These tools can help you track your spending, set budgets, and save money. Not only can you see your accounts from the palm of your hand, but you can also set budgets and make sure your spending is on the right track all from the same place. Some of the most common money management tools include:

  • Transaction history: This feature allows you to see all of your recent transactions in one place. You can view transaction history on all your accounts, credit cards, and debit cards in the app.
  • Budgeting tools: These tools can help you create and track a budget all in one place. Budgeting is the first step to financial wellness and freedom.
  • Savings goals: These tools can help you set and track savings goals by setting up automatic deposits into your savings account.
  • Transfer money: This feature allows you to transfer money between your accounts, to other people, or from a different financial institution.

online banking quick start kit

3. Mobile Check Deposit

Mobile check deposit is a convenient way to deposit checks into your bank account without having to go to a physical branch. With mobile check deposit, you can simply take a picture of your check using your smartphone or tablet and the app will deposit the check into your account. Even if you’re out of the country, in a different state, or on a work trip, you can still deposit checks into your bank account. With mobile check deposit, you can deposit money with convenience, even on days when you might have a long day at work and can’t make it to a branch before they close, or maybe you just want to relax at home. When looking for a mobile banking app, make sure it includes the ability to deposit checks through the app.

4. Security and Fraud Alerts

Security and fraud alerts are an important feature to look for in a mobile banking app. While mobile banking is secure, it is still important to monitor your accounts so that you know if something suspicious is taking place. These alerts can help you protect your account from unauthorized activity. Some of the most common security and fraud alerts include:

  • Transaction alerts: These alerts notify you of any suspicious or unusual transactions on your account.
  • Login alerts: These alerts notify you when someone tries to log in to your account from an unfamiliar device or location.
  • Card alerts: These alerts notify you when your card is used at a merchant or location that you don't recognize.

5. Bill Pay

Bill payment is another essential feature to look for in a mobile banking app. It can be easy for the bills to pile up and get forgotten throughout a busy week or if you’re traveling when a bill is due. With bill payment, you can easily pay your bills online from your phone or tablet. This can save you time and money on postage and late fees, and some apps even allow you to automate these payments. You can also be provided with peace of mind, knowing that your bills are paid on time, every time. Paying your bills within the mobile app also gives you the ability to view your bill history and compare the amounts of your past bills.

If you're looking for a way to save time and money, and to ensure that your bills are paid on time, then a mobile banking app with bill payment capabilities is a great option.

6. Help Chats

Help chats are a convenient way to get mobile banking customer service if you need it. With online help chats, you can connect with a customer service representative in real time and get help with any problems you're having. Mobile banking is usually easy to use, but sometimes there can be complications or certain features that are challenging to figure out.

Many financial institutions offer chat bots that are available 24/7 and some have live chats that are available during business hours. The Leaders app has helpful financial champions ready to help you with any issues or questions you may have through our live chat.

Choose a Mobile Banking App that is Right for You

Mobile banking apps offer a convenient way to manage your finances on the go. When choosing a mobile banking app,

Everyone’s financial needs are different, and our digital world now allows you to customize what features you have in your banking app. Take control of your financial journey by choosing an app that offers the features that are important to you, so that you can make your financial life easier and more convenient.

Managing your money has never been more convenient. Leaders Mobile Apps make it simple to review your accounts and balances, make payments, and achieve your financial goals. Download our mobile app today and take control of your financial journey anywhere, anytime. 

Are you ready to take advantage of online banking? You can sign up with ease with the help of our online banking quick start kit. Our step-by-step guide walks you through the sign-up process so you can start managing your money anytime, anywhere.