Customized Application Development and their Role in Banking Services Organizations need specific features in software programs to suit their individual process needs. All of these requirements are not easily met by the off-the-shelf readymade software applications. Custom software applications are saviors, streamlining our business processes and making them more profitable. These applications need considerable time and money to develop and maintain. Therefore, it is important to keep in mind a few points before an organization dives into customized software creation: •
Evaluate and understand the gaps in the existing process- It is very important to know why a customized application under the circumstances is warranted, and what the loopholes in the existing application are. Also, understand what current issues are costing the organization. This will help discern the expected investment in a custom solution.
•
Ask a couple of questions to clarify the approach to be taken: o Where do the most delays and errors occur in the current application? o Will the new application pave a better or faster way to get the desired results? In what ways will the application fasten or better the current process? o Will the new application offer scalability with the evolving needs of the business? At this point, the chosen custom application development service provider and your organization must have a fair idea of what you are looking to develop, and the budget it will involve. Though there is still time to fine-tune the design and nail the final budget.
•
Design phase must ensure absolute clarity on the high-level as well as detailed design specifications of the application. Each and every feature of the application will be documented for reference. A blueprint of the design will be made by the application development service provider. The final budgeting will be agreed upon.
Traditionally custom applications were designed to suit the internal needs of organizations. In current times custom app development services are popular for various customer-facing services offered on the digital platform. The most popular are the applications in the banking sector. In a competitive environment, banks look to fulfill every requirement of their coveted customers and need to offer differentiators. For example, use of tablets is an
important methodology used in doorstep banking today. Tab banking has done away with a lot of paperwork for banks and their customers. Look at the process of opening an account in ICICI bank. A customer can opt to have a doorstep banking services officer come to his place at a convenient hour, click the customer’s photograph and scan the necessary documents with the help of a tablet. The use of tablets has fastened the doorstep banking process and been a great time saver. Applications development services like these are custom made for individual banks and not bought off-the-shelf.