Mobile apps have become indispensable for every industry today and the finance sector is no exception. These applications have completely changed the way this sector works. There are users who are too busy with work to manage their finances properly while there are others who just want them for online shopping, investment, booking, and banking functions. Whatever the reason may be, these finance applications have become a must-have for a large chunk of the population today because of the convenience they offer. As an icing on the cake, advanced technologies such as AR, VR, and AI have become true game-changers for finance mobile app development. Artificial Intelligence, in particular, does a lot for taking them to the new level. Here are some ways this technology has redefined iPhone and Android app development in India and across the globe for the finance vertical:
Gives the power of automation
With AI, it becomes possible to automate transactions so that the app user can simply set and forget. For instance, you have to schedule your credit card payment for the 7th of every month; the transaction can be integrated into the AI-powered app so that it can be carried out on the specified date. Once processed, it will be automatically updated within the application sheet.
Serves as a smart personal assistant
Another way in which the AI technology powers up these apps is by enabling them to serve as smart personal assistants. In this role, they remind the users about the pending payments and expenses so that they can be done on time. At the same time, they also keep a track of these transactions in the application.
Facilitates personalized planning
The AI-fueled finance applications facilitate personalized financial planning for the users. Such apps remind them about their current balance and also issues warning when it falls below a specified limit. These personalized feeds help the users to manage their budgets and make financial plans as well.
Acts as a digital envisioneer
Integration of AI in a finance app can make it a digital envisioneer that provides effective financial forecasts for framing a long-term financial strategy. For instance, it can help a user to estimate the present as well as future expenses (with due calculations for inflationary trends). Eventually, as the user has a complete idea about these expenses, he can come up with a long-term saving strategy for a secure future.
Conclusion
Integration of Artificial Intelligence in finance mobile apps yields unmatched functionalities. However, if you want that you create such unmatched experiences, you would need to hire experts with the right skill set. At Mobiindia, we are a reputed mobile app development company in India. We offer a full range of services for Android, iPhone, and hybrid app development. In addition to being experts in all the mobile platforms, we also excel at integrating the latest technologies into the apps we create for creating exceptional mobile experiences.
