Sheldon Anthony IO

Eventually, conventional banking apps will become outdated due to the emergence of superapps that provide a better, faster, and more seamless experience of financial functions and a variety of other services. Financial superapps that are able to deliver a personalized and seamless customer experience have a high engagement rate, which helps them establish trust and build their brand reputation. 

1. Robust budgeting and tracking tools to help users keep track of their finances

   From tracking spending and income to setting up budget goals, users can make sure that their money is being managed responsibly. Additionally, users can set up notifications to be alerted when they are approaching their budget limits, helping them stay on track and avoid overspending. People are interacting with money all the time by tracking, monitoring, and providing services for these transactions will aid in ensuring high engagement rates.

2. Comprehensive financial advice and guidance to help users make informed decisions

   Financial advice and guidance are essential for individuals to make informed decisions about their finances. If the advice provided is tailored to a user's specific needs then trust in the app will lead to greater adoption. This lets users feel more comfortable with their financial decisions, as they can be sure that the advice they are receiving is tailored to their specific needs. the insights in these articles can leave you wiser, wealthier, and better equipped to make the most of your money. Using these tools and services can assist a consumer to become wiser, wealthier, and better able to manage their finances.

3. Provide secure and reliable payments processing features

   Having a secure and reliable payment system in a financial superapp can also increase engagement by providing users with the convenience of making payments without leaving the app. 57% of consumers think superapps will minimize the risk of losing sensitive information according to Statista. [1] Ensuring that users are able to make payments with confidence, trust, and reliability encourages adoption and increases consumer engagement. 

4. Comprehensive portfolio management tools to help users manage their investments

   Comprehensive portfolio management tools are a great way to increase engagement in a financial superapp. By providing users with a comprehensive overview of their financial situation, users are able to easily and quickly make decisions about their finances. These tools provide users with personalized advice, helping them to make the best decisions for their individual financial needs. When the features in the app make users feel confident and in control of their finances this lead to increased engagement.

Superapps are consolidating people's financial interactions through open banking, allowing them to provide hyper-personalized experiences. It reduces the need for users to access their bank's app if a super-app's e-wallet allows them to monitor transactions, check balances and make payments. With the advancement of open finance, super-apps will have access to a wider array of partners, allowing for more products to be developed quickly and at higher quality, increasing user appeal.