Review

Mobile Banking is not new to the world. It’s well established in the roots of the people and a recent survey by Federal Reserve just proved the same. According to the survey, 38% adults who have both bank accounts and mobile phones use mobile banking. It’s a straight 33% rise in the numbers compared to users in 2013. So we can sense the change mobile phones are predicting in the lives of people.

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Almost all the banks in the world have their own mobile banking app. These apps allow customers to transfer money, check out their bank statements, pay bills, etc. Nowadays, new features such as mobile-to-mobile money transfer have gained a lot of popularity. So while visiting a bank branch has become obsolete for a long time, now you don’t even need to visit your bank account. But still, no radical change has appeared in the norms and facilities that these apps offer. Most of them are same and offer an alternative to your internet banking; but nothing more.

Now, Alfa Bank has finally taken a step towards next-generation technology with their latest mobile-banking app called “Sense”. Sense is not a simple m-banking application. It comes equipped with machine learning and for those who don’t know what it means, it’s adapting to your habits. So this app grows with time and its user interface changes after every 30 minutes improvising on the latest inputs from your side. So as you use the app, you’ll find it more and more attuned to your needs.

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Sense offers you all the premium facilities of mobile-banking. You can transfer money to other accounts or to other mobile numbers as well. It’s quick and streamlined. The app keeps you sorted out and relaxed. There are payments for different purposes and if you can categorize them, you can find a trend that would make it easier for you to predict future expenses. Your utility bills fall under one such category. So Sense gives you a separate section where all such expenses are accounted and give you a better understanding of your monthly costs.

The monthly statements give you a brief into your past month transactions. You’ll never have to sit and figure out why your last month’s expenses exceeded your expectations. Just open the app and you have all the numbers in the exact form. Moreover, the app keeps you informed of the upcoming payments. Many times it happens that your credit card payment is due and you forget it. You have the funds but somehow you don’t realize it. Then you know how hefty the interests can be on your pocket. To avoid such situations, Sense reminds you of your dues well before the last date and saves you the headache.

Alfa Bank is already ruling the Eastern Europe market with total assets worth more than $43.6B and with Sense launching next week, you can estimate the growth they’re intended to record in the near future. So don’t forget to check out Sense once it’s out in the stores!

The app has a website: http://alfasense.com