Digital banking enables customers to use all banking services on their fingertips. This includes making transactions, submitting requests, and handling various banking activities online.
Below mentioned are various advantages of Digital Banking in India –
- Provides Convenience & Reliability
Digital banking makes it quick and easy to access various banking facilities and services 24×7 without actually visiting the bank. Leading Digital banks in India like Fi.Money allows users to open zero-balance savings accounts online within minutes.
Mobile banking apps help customers check their balance, transfer funds, and set up notification alerts without visiting.
- Offers Multiple Features
Many digital banking features offer online experiences with personalized suggestions that include virtual assistants, saving tools, etc.
- Offers online payments
Digital banking features like online bill payments can help customers save money and time.
Paying utility bills and other bills without cash or cards is possible for digital banking customers. In addition, many payment apps also support mobile banking apps.
- Auto-debit facility available
Digital banking comes with an incredible facility for auto-debiting payments. Digital banks help customers accomplish daily banking tasks within minutes. This includes monthly payments and subscriptions like electricity bills, entertainment, taxes, etc.
Users can also undo the auto-debit service as per their requirements. Some AI-based services offered by digital banking include:
- Saving reminders.
- Automated budgeting
- Spending analytics
Your spending can be tracked with the use of insights from Fi.Money’s Analyser: it allows the user to analyse spending by merchants and brands, categories (such as food and entertainment), and time (daily and monthly spending).
- Highly Secure
Many banking apps use biometric authentication for additional security.
E-wallets and digital payments are more secure than traditional ATM cards, making customers more inclined toward using digital banking tools.
- One Stop Solution
Digital banking is a one stop solution to manage an individual’s finances. Not only are digital banks cheaper, but they also offer personalized services. The automation that these banks offer help a user to stay up-to-date with their financial progress.
Digital banking in India has changed the way we manage our finances.
With Fi Money, you can go online & open a zero-balance savings account in minutes. No paperwork & no hidden fees! It can help you save up, invest wisely & analyse your expenses. In short, Fi’s an online banking solution that helps you get smarter with your money — in a fun & uncomplicated manner.