The days of waiting in long queues to open an account or deposit a check are long gone. Today’s modern customer demands quick finance management software solutions that enable them to transact securely on the go. The need for such applications has especially risen in the last year, thanks to the coronavirus pandemic. Then, what is better than a mobile banking app to fulfill this demand.
As per studies, 90% of the US bank customers use a mobile banking app to view their balance, 79% for recent transactions, 59% to ease their open-source billing, a Business Insider study recorded around 97% of millennials use a banking app. With more and more transactions being done online, an application for a bank or finance company is a must today.
ASP.Net Core is one of the latest technologies attracting the attention of the banking and finance industry for new generation mobile applications that are user-centric. You ask why? In this article, we will take you through ASP.Net Core and why it is a perfect fit for your application development needs.
Defining ASP. Net Core Technology
A part of the .Net framework by Microcloud-based Core is an open-source, cross-platform framework for building modern web applications. It is a development over the older ASP.Net and is widely used to create cloud-based web apps, IoT applications, and mobile backends across industries including banking and finance.
Several factors about ASP.Net Core make it a preferred choice of businesses across industries, including the BFSI sector. Here are some of the distinguishing features of this app development framework:
- ASP.Net Core is an open-source application development platform
- A cross-platform framework, applications can be built on multiple platforms using it
- Supports container technology; a software that packages applications and their dependencies in one unit, making it easy to run the app in different environments
- Provides enhanced security from Cross-Site Request Forgery (CSRF) attacks
- Supports cloud-based application development
When there’s an activity involving money, your application needs to take care of every sensitive aspect including safety, privacy, speed, flexibility, and more. The nature of ASP.Net Core can be helpful in banking application development that provides users with an easy and safe way to handle their finances.
All you need is an ASP.Net Core development company by your side to help you build a user-friendly application that will bring various benefits to you and your customers.
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Benefits of ASP.Net Core for Banking and Financial Industry
As discussed before applications built on ASP.Net Core offer several benefits to businesses dealing in finances. Developers at ASP.Net Core development company will agree that most of these advantages lie in the core elements of the framework. Here are ways in which the banking and financial services can benefit by using ASP.Net Core applications.
Supports Multiple Platforms and Major Containers
One of the most important reasons that ASP.Net Core is preferred is the fact that it supports the development of applications across platforms. With this, it is now possible to create and deploy applications on Windows, Linux, and macOS.
Not only that, ASP.Net Core enables containerization, a buzzword across industries. The web application development platform supports major container technologies like Docker and Kubernetes.
A prerequisite for a successful banking and finance application is that it is compatible with all platforms. Also, when needed, applications must be easily transferred and deployed. The cross-platform capabilities and container support make ASP.Net Core a perfect choice for a banking or finance app development.
There’s no denying that speed matters the most in this digital age. Whether it is an online purchase, funds transfer, or bill payments, one expects these transactions to be executed in seconds. For a banking and finance app, high performance is a must.
ASP.Net Core helps build high-speed applications that provide a smooth, glitch-free experience to its users. After compiling the code, the ASP.Net Core framework optimizes it to boost performance. This makes it one of the fastest frameworks available today.
When it comes to money and personal information related to finances, there is the fear of fraud. In today’s times, cyber-attacks are a real threat to banking and financial institutions.
Cross-Site Request Forgery (CSRF) attacks are one of the most common types faced. It occurs when a hacker sends a request to a site that is weak on security. If they succeed, they can change an individual’s details and access their finances. This makes high-level security imperative in banking and financial applications.
ASP.Net Core uses anti-forgery tokens to prevent CSRF attacks. They are called request verification tokens out of which one is used as a cookie and the other is present in the hidden form fields that help prevent such breach. As a result, it enhances the security and privacy of your banking application.
Perfect Choice for Cloud-Based Applications
For improved flexibility, accessibility to data, and safety of information, more and more businesses are resorting to cloud-based applications. This is especially true for projects loaded with a heavy amount of data, which is usually the case in banks and finance companies.
ASP.Net Core supports cloud application development. By leveraging it, you can build a rich app for web, IoT, mobile, or AI, depending on your requirements.
API Integration for Productivity
Integrating APIs is an essential factor in the development of websites and applications. ASP.Net Core integrates Model-View-Controller or MVC, which is a development model known for its high efficiency.
Most banking and financial services use web applications for their customers. With MVC, the ASP.Net Core framework explores web API integration, enabling banking app developers to test these apps better. Since this improves the overall productivity of the app, it makes ASP.Net Core a great choice for banking and financial app development.
Efficient Communication with Real-Time Push Notifications
Applications not only enable transactions on the go but also help banks and customers communicate with each other. For instance, you get important information from banks on your mobile banking app in the form of notifications.
ASP.Net Core framework uses a library designed for the server as well as client-side notifications. The technology uses SignalR Java, which improves push notifications to both sides of server and client.
By creating apps on the ASP.Net Core framework, banks can harness this feature of in-app push notifications to communicate vital information to their customers. Customers benefit from receiving
As a part of the banking and financial services industry, you can utilize ASP.Net Core to build a new generation, feature-rich applications to serve discerning customers. All you need to do is to connect with an ASP.Net Core development services provider to help you with it.