Globally, there are an estimated 2.043 million users of online banking services, and by the end of 2024, that figure is predicted to increase to 2.55 million. It means that banks should concentrate on developing mobile banking apps, such as Chime, that cater to the requirements and expectations of customers in the present day and move offline banking services online.

An advanced and feature-rich banking and finance application may boost revenue and client loyalty while drastically cutting costs for your business. The development of banking apps can benefit your company in a lot more ways, though. Learn how to create banking apps similar to Chime by reading this blog.

Current Market Stats of Mobile Banking App Like Chime

According to Statista, around 80% of US millennials will regularly use banking apps by the end of 2022. The younger generation finds it impossible to imagine living without digital solutions like Chime and other online apps. Because of the annual growth in the capitalization of banking apps, company owners stand to gain a great deal from this.

By the end of 2020, there will be $3.6 billion of banking app users worldwide, up from roughly $0.6 billion in 2015. These rising figures demonstrate how crucial it is to develop financial applications in the modern day.

Therefore, it is imperative that firms get involved in the banking app development process now rather than waiting for too long.

What is Mobile Banking App?

 Customers of banks can use a smartphone or tablet to access their account information and complete transactions by using a mobile banking app. These apps usually have functions like the ability to pay bills, transfer funds, and check account balances.

Customers can deposit checks by snapping a picture of them using certain programs. Mobile banking applications provide users with an easy way to handle their bank accounts and make purchases. Businesses can employ banking app developers to create a growth-driven application that meets their requirements and looks great in order to construct the ideal application

Which Kinds of Mobile Banking Applications Are There?

Previously, Chime and the other four main categories of mobile banking apps helped businesses make huge profits while giving customers access to the greatest mobile banking services available.

 1. NFC (Near Field Communication)

With the newest banking app trend, consumers may utilize their mobile devices to make contactless payments.

2. Internet Payments

Users can make payments with a single tap by connecting mobile banking applications to online payment systems like PayPal or Stripe.

 3. Digital Wallets

The user’s bank card details are saved in digital wallets, eliminating the need for actual bank card copies. They use NFC solutions quite a bit.

4. Mobile Transactions Management

Users of this virtual banking app have complete control over every transaction made using their bank card. If so, customers can conduct any banking-related business without physically visiting the bank.

These represent a few of the several FinTech and banking mobile apps that companies can choose from.

How To Develop Mobile Banking App Like Chime?

How To Develop Mobile Banking App Like Chime?

It takes a great deal of work and meticulous preparation to create a banking app development process similar to Chime. Accept or reject? Here’s a step-by-step guide on creating a feature-rich banking app to assist you with the same.

 1. Conduct Market Research

The secret to creating effective mobile applications, whether they are for banking or anything else, is research. After creating a financial application such as Chime, you cannot just start working on it. Correct? Therefore, learn as much as you can about the widely used mobile banking apps on the market, such as Chime. It will enable you to comprehend the process of developing a fruitful banking app.

When conducting research on banking apps, make sure to record all the pertinent information because it will come in handy during the building process.

2. Identify Target Audience & Know Your Competitors

 It’s an important stage that will assist you in creating an app that best meets the demands of your target market. Understand your audience’s geography, age, gender, and interests, among other details. It will assist you in creating a precise fintech and banking application for your company.

In addition, companies ought to concentrate on being aware of their main rivals in the banking sector. To find out what made your competitors’ mobile banking apps effective and how you might use a mobile app to do the same, you must analyze their market activities.

3. Decide the Features of Banking App

Online banking applications are no different from other mobile applications. Choose the special features and capabilities you want to add to your Chime-like mobile banking app. Numerous variables, including financial services, the market, the target audience, the budget, etc., will affect the final features.

Whatever features or functionalities you decide to add, make sure the app remains user-friendly and efficient. Its complexity and cost increase in proportion to the number of features included. Thus, estimate the cost of developing a banking mobile app first, and then make plans appropriately.

4. Design Effective UX/UI

Create a compelling UX/UI once you’ve decided on all the functionality for your banking app. A design has the ability to instantly capture users’ attention. Thus, pay attention to the application’s design in addition to its development. The first step in the process is to create a user experience, with the primary objective being to provide a smooth user experience. However, the banking mobile app’s user interface (UI) complements its functions.

Hiring financial app developers who can assist you with engaging banking app design and development is advised if you are having trouble with this phase.

5. Finalize Banking App, Tech Stacks

Selecting cutting-edge tech stacks is essential for developing banking apps that succeed, such as Cash App. This brings up the crucial query: “Which tech stacks should be used during the development of banking apps?”

The fintech mobile app and the newest technologies to be used in banking are highlighted in this table. You should be aware, though, that the tech stack below is very comparable to an app like PayZapp.  Now let’s examine the tech stack below: 

6. Develop Banking Mobile App

At last, the crucial phase in the development of mobile banking apps is here: creating apps similar to Chime. All of the significant data or information that was acquired throughout the earlier phases of the creation of the banking application must be used. This process creates the source code for the application, and before it launches, all of the banking app’s features and functionalities are tested.

Seek advice from mobile banking app developers if you lack the necessary staff to create a mobile banking app. Experts in the field will comprehend your needs completely and assist you in creating an ideal company application, similar to the Chase mobile app.

7. Test & Launch Your Banking Application

After completing the six aforementioned stages, thoroughly test your mobile application to make sure all mistakes and issues are gone before launching it. If your banking app is too slow to use or has bugs or errors, no one will use it. Thus, make sure the testing is done correctly and run the program on the platform of your choice (Android, iOS, or both).

To create a mobile banking app similar to Chime, follow these easy seven steps. With your newfound understanding of the complete development process, you can now follow it and create a flawless mobile banking application faster.

Hire a team of experts to design your fintech application for improved production and outcomes. Just discuss your needs with the top on-demand app development business, and their professionals will create a personalized banking application.

Key Features of Mobile Banking App Like Chime

Key Features of Mobile Banking App Like Chime

Companies that intend to develop banking applications must make sure they meet or exceed user expectations. These are some of the main characteristics of Chime-like Mobile Banking Apps that can assist you in developing a business application that is driven by growth.

1. Transactions & Balance

Users of banking applications typically check their balance and recent transactions while using the app. Is it not? Thus, one of the requirements for mobile banking applications is this. Thus, remember to incorporate this function into your banking app.

 2. Check Deposit

The ability of a banking app to save clients time and effort while visiting the bank—for example, by checking deposits—is another fantastic benefit. This feature allows users to take a picture of the check from both sides and upload it into the banking app.

3. Manage Cards

With the use of this tool, customers can designate credit or debit cards to various accounts and prohibit them. Users can also alter their PINs, set limitations, and carry out other tasks that their bank permits. Don’t forget to include the managing card; it’s necessary for a flawless online banking experience.

4. Tailored Push Alerts

It is an incredibly fundamental feature that all websites and mobile applications have. Users can authorize notifications with a single tap. Notifications may also request authorization for a scheduled transaction to offer account status updates. That’s the best way to get someone to sign up for pre-scheduled, automatic payments.

5. Expense Tracking

Managing spending gets difficult while using offline banking services. Accept or reject? To tackle such issues, a mobile banking app like Chime’s functionality is helpful. With only a tap, consumers can easily keep track of their spending and adjust their financial goals.

6. Payments

Everyone prefers to use online banking tools for digital payments. As many service providers as you can should be integrated with. Your customers will be able to use it to send money to friends and family, pay for everyday bills, and settle loans and mortgages.

7. Bio Authentication

 Bio Authentication Security is crucial, especially when creating peer-to-peer payment apps or handling personal finances. Adding support for FaceID and fingerprint sign-in can help your customers feel both secure and comfortable. With these capabilities, anyone can sign in with a simple tap or quick scan of their phone.

What Is the Banking App Development Cost?

The average cost to design a banking app is between $8,000 and $20,000 or more, depending on a number of variables, including

  • App Complexity
  • Features, Functionalities, & Tech Stacks
  • Number of Targeted OS
  • Outsourcing Location
  • Type of Application
  • Developers’ Location
  • App Size

These variables affect the cost of banking applications, which can go up or down from the listed amount. You can employ banking app developers to receive an accurate cost assessment. They will thoroughly examine your application requirements and provide you with an accurate banking app cost estimate.

Start Working on a Chime-like Mobile Banking App!

Digital solutions, such as mobile banking applications, are highly sought after by the banking industry. Everyone wants fast, flawless online services these days, and they also always want speedy fixes. The best way for businesses to make a ton of money while giving customers the best possible banking experience is, therefore, to develop mobile banking apps like Chime.

We hope that after reading this blog, companies will know “How to Develop a Banking Application.” Now is the time to put the procedure into practice and obtain the ideal business application. For greater outcomes, work with devoted developers or get advice from the top banking app development firm. It’s time to gain your clients’ trust and establish a lasting rapport.


With an ever-increasing user base in the online banking market, demand for mobile banking apps like Chime continues to climb. Banks should prioritize the development of feature-rich mobile banking apps to satisfy the demands and expectations of modern customers. Businesses may design effective apps that improve user experience and financial services by taking a strategic approach. It is critical to embrace the digital technology and stay ahead in the online banking market. The path to creating a Chime-like mobile banking app begins with meticulous planning, extensive research, a focus on user experience, and adherence to the most recent technological advancements. And Appic Softwares can help you in Fintech App Development Process. We have a team of dedicated fintech app developers.

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