Have you ever wished you could skip the long bank lines and handle your money from your couch (or that cool coffee shop you frequent)? With just a few taps on your phone, you could check your balance, move money between accounts, or even pay your bills.

For millions of users, this is not a scene from a sci-fi movie; it’s their real life thanks to new mobile banking apps like Arabi-Mobile. But have you ever thought about how to build an app like Arabi-Mobile?

We’ll show you how to quickly make your own mobile banking app in this blog post. We’ll go over the main features, talk about how they’re made, and give you the information you need to make a safe and easy-to-use experience that is on par with the best.

What is an Arabi-Mobile App? 

Arabi-Mobile is the official Arab Bank app for getting money out of your phone. It lets you handle your money from afar, with features like making trades, paying bills, and seeing information about your accounts. The app has an easy-to-use design and features that can be changed to fit your banking needs. You can even use the app to apply for loans and credit cards. So, if you want to build an app like Arabi-Mobile, consult with a mobile app development services provider.

Market Statistics of Mobile Banking Industry

• Far East and China had more than 805 million registered internet bank users in 2020. It’s thought that this number will hit almost a billion by 2024.
• Around 2020, Asia was the biggest market for online banking. However, all of the European countries with the highest rates of online banking use were also in Asia.
• This type of bank had a market worth about 47.4 billion U.S. dollars in 2021, and it’s expected to grow to 2.05 trillion U.S. dollars by 2030.

• The banking market in the United Arab Emirates is forecast to make US$28.21bn in net interest income in 2024.
• With a market size of $25.35bn expected in the same year, this section of the market is expected to be dominated by traditional banks.
• Looking ahead to 2029, the Net Interest Income is expected to grow at a rate of 4.26% per year, which will create a market worth US$34.76bn.

Why Must You Invest in Arabi-Mobile App Development?

There are a lot of reasons on their list for why a business should build an app like Arabi-Mobile. Here is a quick list of the benefits: 

1. Increase Customer Engagement

Customers will have an easy time with your business if you build an app like Arabi-Mobile. It also makes them more likely to buy your services or goods. With all the noise out there, it’s easy for businesses to lose their edge with buyers. As the world of mobile phones grows, businesses are making apps for them to connect with customers and get a wider audience interested.

2. Scalability 

As a business grows, it may slowly build an app like Arabi-Mobile with the help of dedicated developers. As part of getting requirements, designers and developers can think about what people will need in the future. Then, these things can be built into the system, which will save money on buying extra rights or subscription packages.

3. Build Endorsement

For buyers, one of the best things about an app is that it helps them get to know and connect with your brand. People almost never buy something without first reading reviews or comments from other people who have already bought it. In the same way, people look at hotel reviews, routes, and ticket prices before they go anywhere. So, good reviews from your present customers will help your image with people who might buy from you again.

4. Better Customer Service & Support

One great thing about mobile is that the feedback and support system can be built right into the app. This makes it quick, easy, and flexible for customers to connect with your brand. If you build an app like SNB Mobile or other, you can make your customers’ experiences and satisfaction much better by making online sales easier and information more available. A lot of the time, sales go up when customers are happy.

Steps to Build an App Like Arabi-Mobile 

Want to build an app like Arabi-Mobile? Here is a full step-by-step guide on how to make a foreign banking mobile app like Arabi-Mobile: 

1. Ideation Validation

Before you start to build an app like Arabi-Mobile, you need to figure out what problems or pain points you want to solve for your audience. Also, validate your idea with an iOS or  Android app development company. Now would be a great time to come up with ideas. This is the first step, where you come up with ideas, figure out who your target group is, and make sure your idea is good by doing market research. It’s kind of like drawing out the plan for your transfer app.

2. Analytics & Market Research

Now it’s important to know what your competitors are doing. This is why it’s important to do market study. It helps you find answers that are already out there, figure out what their pros and cons are, and see where you might be able to fill in the holes. So, this data-driven method could help you make sure that your transfer app stands out after it’s been built.

3. App Platform Selection

You need to pick a platform that you will stick to build an app like Arabi-Mobile. Will you make a fintech app that only works on iOS or Android, or will you choose an option that works on both? First, this choice will affect your income and the features you want. So, with the help of a hybrid app development company, you should carefully consider all of your choices because each one has its own pros and cons. Pay attention to one at a time at first.

4. UI/UX Design

When you build an app like Arabi-Mobile, this step gives your financial app a look and feel that comes to life. User experience (UX) design makes sure that interactions are smooth and easy to understand, while user interface (UI) design looks at how things look and how they can be used. You can think of it as the process of making a beautiful, easy-to-use interface that leads people through the trip of your app.

5. App Development

This is the longest and most important part to build an app like Arabi-Mobile. The core of your transfer app is made by developers who turn your ideas and features into code. The progress is pretty much summed up in that sentence. Depending on how complicated the project is, this stage may include both front-end (for users) and back-end (for data and logic) development. Before putting your app like Mashreq or Arabi-Mobile out there for everyone to use, it needs to go through a lot of testing. Testers look for bugs and fix them. They also check the speed and make sure that the experience works well on all devices and systems.

6. Final Release  

After you’re done making your fintech app, submit it to the right app store following their rules and including full descriptions and screenshots. Once your app has been approved, anyone can download it and enjoy it.

The process to build an app like Arabi-Mobile is an exciting journey that is full of challenges and benefits. In the world of mobile transfer apps, which is always changing, this is just the start. To stay successful, you need to keep adding new features, listening to user comments, and adapting. However, you need to regularly check and maintain your fintech app.

Must-have Features to Build an App Like Arabi-Mobile

The benefits to build an app like Arabi-Mobile are very important to how well it does. Because of this, it is important to know what features an app should have to make it stand out. Here are some of the most important features of an online money transfer app like Arabic-Mobile. 

1. International Transfers & Currency Exchange

People can easily send money from one country to another in a few minutes thanks to this feature. The currency exchange function shows the receiver how much money they will get in their own currency.

2. Live Rates and Currency Trends

Users can get real-time information about market changes and exchange rates from live rates and currency trends. This helps them choose the best time to make deals and get the most out of the money they send or receive. But adding this feature can increase the cost to develop a mobile app like Arabi-Mobile.

3. Passbook

An online-only passbook is a necessary feature that lets users keep track of all their cross-border transactions, look at their past of money transfers, and easily access direct payments that let them get their money into their accounts before payday.

4. Identity Verification

An online remittance app’s online ID verification tool makes sure that all activities are safe and secure. Advanced formulas are used by an app like Al Ansari Exchange or Arabi-Mobile to check the risks of each money move and stop any activities that seem fishy.

5. Multiple Modes of Payment

Supporting multiple payment methods, such as bank withdrawals, debit/credit cards, and others, to give people choice and ease is part of this. This function also makes the experience better for users by accommodating their different tastes.

6. Multi-Language Support

This feature makes the app more accessible to people around the world because they can use it and its services in their own language. This makes the app easier to use and more convenient. It gets rid of language hurdles.

7. Multi-Factor Authentication

Multi-factor authentication, which includes biometrics, one-time passwords, and other methods, makes the money transfer app even safer by keeping users’ private and vulnerable data safe from hackers and other bad people.

Top 5 Mobile Banking Apps Like Arabi-Mobile  

What is the Cost to Develop an App Like Arabi-Mobile?

The cost to build an app like Arabi-Mobile depends on a number of things. While the budget for a mobile banking app can be roughly estimated to be between $10,000 – $25,000+, there are a few things that need to be thought about.

It is common to analyze the cost to develop a banking app in UAE for this kind of spending, even though there are many factors that could affect the final cost. The most important parts of making an Arabi-Mobile game are these:

• App complexity
• Features & functionalities
• App design
• Tech stack
• Platform type
• Developers location

Talking to an experienced banking app development services provider is the best way to get an exact price quote for your project.

Mobile Banking App Development Challenges

Making a banking app is a lot of work that needs to be done to give users a great experience. We have to say that this is not an easy mix. We’ve dealt with some of these moving parts over the years. We hope they’ll be useful to you.   

1. Biometric authentication

Not enough can be said about how important it is to work with private info when developing mobile banking apps. It didn’t seem like a big deal at first when we had to set up Face and Touch ID identification for one financial project. But when we tried to do the job, Android devices gave us trouble. That’s why it took longer to add the feature. Remember that you are working with private information about people, and take your time.

2. 3rd Parties Integration

Third-party integration doesn’t seem like a stage that will take a lot of time at first look. But trust me, it could be a pain. It takes longer than you think to sign contracts with outside service providers, and it’s often done at the last minute. It could also change the project’s schedule and slow down progress. Developers have to work with mocked data until the third-party connection is complete, and closing the feature can take an extra 1-2 sprints. As a result, an iOS app development services provider has to change a lot of code to make it work with the other app. Another run or two might be needed to finish the feature.

3. KYC verification

One more problem is that KYC verification is hard to do. KYC is the process of making sure that bank customers are who they say they are, either before or after they start using your app. This is hard because there are some good Risk Analysts here. That means you’ll probably have to look for one for a long time. Also, alloy.com can help with the KYC process, which is another useful connection.

4. Security Issue

One of the biggest worries about making a banking app is making sure that digital banking is safe. Traditional passwords and usernames are now easy for hackers to get to. A study called the 2021 State of Mobile Finance App Security found that almost 77% of mobile banking apps have flaws that can let hackers get to your info. This is why protecting data and apps is one of the most important issues you shouldn’t forget about when making a mobile app. 

5. Cross-Platform Compatibility

Do you know? There are a lot of people who use apps that work on a variety of platforms, operating systems, and screen sizes without lowering the quality. One more big problem with making mobile banking apps is that “fragmentation in the mobile device” can make them not work with many users’ phones. Besides that, this can also make the app not work the same way every time, which will really annoy your users.

Final Thoughts!

International money transfer apps have changed the way we handle our money and send money to family and friends who live far away. These apps have user-friendly designs and top-notch security features that make managing money so much easier and more free. These apps are the subject of this blog, which is a complete guide to them.

You can work with Dev Technosys, an ewallet app development company, to build an app like Arabi-Mobile that is safe, has lots of features, and can be scaled up or down. We make special apps for sending money between countries that are safe and quick. We have more than ten years of experience and a lot of technical know-how.

FAQs!!  

1. How Much Will It Cost To Build An App Like Arabi-Mobile?

You can see that there are a lot of things that can change how much it costs to make an app like Arabic-Mobile. The least it costs to make an app is $10,000 to $15,000. A mobile app with more features will cost around $25,000.

2. How Long Will It Take To Make An App Like Arabi-Mobile?

An average app can take anywhere from two to seven months to create an app like Arabi-Mobile. The time to make an app like Arabic-Mobile relies on how hard the project is and how many features it has.

3. How To Monetize An App Like Arabi-Mobile?

You can monetize an app like Arabi-Mobile with the following monetization strategies:

• In-app purchase
• In-app advertisement
• Freemium model
• Subscription model
• Sponsorship model

4. What Are the Benefits Of Arabi-Mobile App Development?

For the following great reasons, making an app like Arabic-Mobile can be very good for your business:

– Lower fees

– Convenience

– Accessibility

– Speed

– Security

– Transparency

5. What Are the Key Features of an Online Money Transfer App?

A good foreign money transfer app like Arabi-Mobile has the following features:

– International Transfers & Currency Exchange

– Live Rates and Currency Trends

– Passbook

– Multiple Modes of Payment

– Multi-Language Support

– Multi-Factor Authentication

– Virtual Assistant