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8 mobile banking trends for 2023

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More and more people are turning to digital solutions for their financial needs.

Developers and marketers of finance and banking apps have responded quickly to new consumer behaviors, and in this post, we’ll look at fascinating trends in the mobile banking industry.

Read on for examples of mobile banking apps, reasons why finance went mobile in the first place, and a deep dive into the latest trends driving digital transformation at financial institutions.

3 examples of top-notch mobile banking apps

Before we dive in and analyze some of the trends in banking of 2023, let’s examine a few examples of the best mobile banking apps and digital financial services.


EveryDollar is one of the most popular personal finance apps in the consumer fintech space. It starts by digitizing Dave Ramsey’s philosophy on budgeting into a beautifully designed interface. Still, it also helps consumers activate the saving portion of their process by (optionally) automatically rounding up transactions and investing the remainder in a low-cost ETF.


PicPay is Brazil’s most prominent digital wallet, with over 60 million users. To facilitate more transactions and give its users a better experience, PicPay chose to add robust messaging capabilities into its app. By surrounding mobile payments with advanced messaging options, PicPay can provide users with a more engaging and social experience that adds context and delight to each transaction.


Mercury is an online banking platform (with no physical locations) that offers free business checking and savings accounts tailored to startups. One of the standout features of Mercury is that it offers access to its API so developers can set up their accounts with some nifty automation custom to their business model. The app is packed with more digital tools, including generating virtual cards, editing spending limits, freezing a card, and adding it to mobile wallets.

Why finance went mobile

Conversational banking and mobile finance apps

It would be easy to say that finance went mobile because everything else went mobile, too, but there are some core reasons for the increase in mobile banking.


The convenience factor of banking and payment apps are fairly obvious but are still revolutionary for the traditional banking industry, considering people were still balancing checkbooks manually just 20 years ago, and therefore worth mentioning:

  • 24/7 access to financial data on the go (balances, mobile payments, transactions, etc.)

  • Peer-to-peer payments (no more split checks)

  • Digital wallets for contactless payments

  • Deposit checks with photos

Just to name a few.

Increase in cashless transactions

The amount of cashless transactions worldwide is increasing exponentially. In 2021, $440 billion USD was transacted in the Asia-Pacific region, $254 billion in Europe, and $204 billion in North America.

This is expected to grow past $2.1 trillion globally by 2026, including significant growth in Latin America.

Control over expenses

According to a European study, 35% of respondents checked their bank account balance with a mobile app at least once per week, while 11% claimed they check balances via mobile several times daily.

Instant access to balance data helps consumers stay on top of their spending and potentially avoid overdraft fees.

Now let’s zoom out and look at the trends driving mobile banking you can use to enhance your product in 2023.

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Using Sendbird to elevate your fintech products

If you want to turn your financial transactions into a lasting relationship with your customers, adding a robust messaging strategy to your product is the first step. Check out our financial services solutions page to learn more about our offerings for secure in-app communication for trusted customer relationships and a lot more!

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