SOME TYPICAL SERVICES THAT FINANCE APP SERVICES IN HO CHI MINH CITY PROVIDE TO THEIR CUSTOMER

While most people associate fintech (financial technology) with cutting-edge new concepts like blockchain and algorithmic trading, the term actually refers to a wide range of much more “boring” applications. But those “boring” functions can affect almost every reason why customers choose to use or not use your finance app. This article will give you some insight into the outstanding functionality of finance app services in Ho Chi Minh City in HCMC that have made them increasingly popular.

1. Digital payments

Digital payment is the online payment method that typically takes the form of an app. To make payments, you don’t need to enter your card details or carry a physical card because the wallet securely stores virtual versions of debit and credit cards. You can also save digital tickets and e-vouchers there, ensuring that you always have the necessary documents on hand.

Figure 1. Digital payment helps your user have more convenience when shopping

Advanced encryption is used by many finance app services in Ho Chi Minh City to ensure that your payment information never leaves your smartphone. And, because digital wallets reside within your passcode-protected device, with payments frequently only possible via fingerprint, they are extremely secure. Many wallets also include extra security protocols, such as two-factor authentication and one-time PINs, that can be used if necessary. Still, it’s a good idea to be cautious – always keep your passwords to yourself, keep an eye on your accounts for unusual activity, and make sure you can disable your device if it’s lost or stolen.

2. Digital banking

Digital banking is the digitization of all levels of banking, from the front end to the back end. This means that digital banks rely on artificial intelligence to automate back-end operations such as administrative tasks and data processing, relieving employees of the burden of completing day-to-day tasks. 

Not only do finance app services in Ho Chi Minh City allow digital banks to allow users to make account deposits and transfers remotely, but they also allow them to apply for loans and access personalized money management services more easily.

Numerous advantages are available to customers who use digital banking and finance apps, including:

Convenience: Customers can do a variety of transactions at any time and from any location. They can use their laptops or mobile devices to transfer money, pay bills, check account balances, and make purchases. By doing this, they avoid wasting the time and effort needed to travel to a bank branch.

Accessibility: enables those with mobility difficulties or who reside in distant places to more easily access banking services. If they have an internet connection, they can access financial services from wherever. This implies that folks with impairments or restricted mobility can also access banking services.

Lower Costs: having less operational expense than conventional banking techniques. This enables banks to give their consumers lesser fees and levies. Customers can also save money on transportation expenditures as they don’t need to physically visit a bank office to complete transactions.

Enhance Security: Offers strong security features that safeguard clients’ financial information from fraudsters. For instance, two-factor authentication, biometric authentication, and encryption ensure that only authorized users may access their accounts.

3. Digital lending

Loan apps and lending software that facilitate conversations and settlements between lenders and borrowers are examples of digital lending fintech apps. Fintech apps are used by financial institutions such as banks and individual lenders to simplify and manage loan procedures.

Figure 2. Digital lending provides fast and secure options for customers

Lending via web platforms or mobile apps is referred to as digital lending, and it makes use of technology for authentication and credit evaluation. Lending is always about gaining a strategic advantage. How can fraud be detected more easily, underwriting decisions made more accurately, or the universe of targets expanded faster than competitors? Vietnam continues to have the second-highest number of people without a bank account. Many finance app services in Ho Chi Minh City agreed that machine learning had transformed traditional lending in recent years.

Some advantages of digital lending in finance app services include:

• Convenience: Gives potential borrowers a quick and easy way to apply for loans. Loan applications can be submitted via mobile devices, and the approval time is often shorter than with more conventional lending techniques.
• Smaller Interest Rates: Because they have smaller overhead costs than traditional lenders, they may offer lower interest rates. As a result, it is simpler for borrowers to obtain loans at a lower interest rate.
• Personalization: Based on consumers’ creditworthiness and financial needs, provide them with tailored loan possibilities. Loan amounts and terms can be chosen by borrowers based on their need.
• Accessibility: Make loans available to applicants with a spotty credit history or low credit scores. For borrowers who ordinarily have difficulty getting credit from conventional lenders, this is a huge advantage.
• Transparency: By giving borrowers clear information about loan conditions and interest rates, you’re making it simpler for them to decide on their loans.

4. Digital investment

Investors can use digital investment fintech apps to research and invest in various financial assets and stock markets. Such apps provide users with relevant and insightful data to help them make informed decisions about their investment plans, as well as serve as a platform to facilitate investments. Investors might gain from digital investments in finance app services in a number of ways. Some of the main benefits are as follows:

• Accessibility: Can readily access a wide variety of investment possibilities. Users can make investments in mutual funds, equities, bonds, ETFs, and other financial products anytime, anyplace.
• Low costs: Provide lower fees than traditional investing methods, making it easier for investors to invest their money without paying exorbitant charges.
• Give investors: A variety of investment options so they can diversify their holdings. Digital investment platforms make it simpler for investors to diversify their portfolios, which is a key approach for lowering investment risk.
• Automation: Makes it simpler for investors to make regular investments. To make saving and investing simpler, investors can set up automatic payments to their investment accounts.
• Transparency: Give investors access to current market information so they may make wise investment choices. Investors can track the performance of their portfolios, keep an eye on the markets, and change their assets as necessary.
• User-friendly interfaces: Give investors access to user-friendly interfaces that make it easier for them to manage their investments. These platforms offer a variety of features to help investors manage their money more effectively, including intuitive dashboards, investment tools, and instructional materials.
• Accessibility on mobile devices: Mobile users can manage their investments using digital investment platforms because they are designed to be responsive. The use of mobile devices by investors allows them to manage their portfolios, execute trades, and access their investment accounts.

5. Finance management

Consumer finance fintech apps assist users in managing their personal finances. Such apps provide users with useful tools and features to help them manage their expenses, plan budgets, and spend wisely.

With some finance app services in Ho Chi Minh City, they can even add a forecast function to the finance app, which allows their user to set reasonable financial goals. The following are some advantages of financial management in financial app services:

• Real-time tracking: Make it possible to keep track of investments, earnings, and expenses in real-time. Users have better control over their finances thanks to the ability to track their financial transactions and receive notifications of any activity occurring in their accounts.
• Budgeting: enables users to establish spending caps and develop budgets. To make sure they are remaining within their financial goals, users can monitor their expenditure against their budget.
• Budgeting: enables users to establish spending caps and develop budgets. To make sure they are remaining within their financial goals, users can monitor their expenditure against their budget.
• Automated Bill Payments: By automating bill payments, consumers are sure never to forget a payment due date. With this function, late payment penalties are eliminated, credit ratings are raised, and time and effort are saved.
• Investment Management: Provide tools for managing investments that let customers keep tabs on their holdings, analyze their performance, and get alerts when their portfolio changes.
• Tax Planning: Offer users tools for tax planning so they may maximize their tax savings. The apps assist users in completing their tax forms and offer information on tax-saving opportunities including deductions and exemptions.
• Financial Planning: Provide tools for financial planning that assist users in making plans for their financial future. These tools allow users to make savings strategies, establish financial objectives, and monitor their progress in achieving those objectives.

Summary

Financial software benefits users by allowing them to pay their bills, understand their profitability and cultivate positive relationships with vendors, clients, and more. That’s why many companies are working with finance app services in Ho Chi Minh City to develop more valuable and reliable apps for their customers.

Source: Internet

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