This Blog brings out the synopsis of using dot net core technology to develop a banking/financial application. Along with this it also speaks about the future, benefits, importance, and features of .net core.
We here will be talking about the Digital money with ASP.Net core technology and the below-mentioned topics that will help you in understanding the ASP.Net core for banking and finance app development solutions.
Chronology of the currency: 1. Commodity money (barter system) 2. Metallic money Paper money Credit 3. Money (Check/cheque) Plastic Money 4. (Debit/Credit card), last but not the least 5. Digital Money
ASP.Net Core is the latest technology that is an open-source, cross-platform, upgraded version and high-performance framework from Microsoft. This version of Dot net core empowers the developers to build modern feature-rich web apps and backend for mobile applications for variant industry domains such as Banking/Finance, Entrepreneurs, eCommerce, Health, Education and many more.
Introduction to ASP.Net core:
ASP.Net Core is the latest technology that is an open-source, cross-platform, upgraded version and high-performance framework from Microsoft. This version of Dot net core empowers the developers to build modern feature-rich web apps and backend for mobile applications for variant industry domains such as Banking/Finance, Entrepreneurs, eCommerce, Health, Education and many more.
For your banking and finance industry,
Why banking and finance Businesses Needs ASP.NET CORE? 1. ASP.NET Core is the open-source web application development platform 2. A part of the technology is free to use 3. Assures the high performance 4. Guarantees security than any other technology 5. Majority of the world developers trust and contribute to it 6. It allows existing and new bank and finance businesses to come up with new ideas that can solve critical problems that were only thought of before 7. Banking mobile apps work 30% faster when backend is built-in asp.net core and frontend in xamarin 8. It has scalable software that can be used to transform the complicated technical lives to easier one of people linked to the banking and financial sector.
Reasons for using mobile banking apps in the USA
As per the statistics and graph, when asked by the people of USA their reviews were as shown in the graph where,
90% of bank customers said the reason behind using the mobile application of the bank is to check/view their balance
79% recent transaction, 59% wanted to ease their billing cycle easy and wanted to pay their bills on the go, 57% hate visiting a branch to transfer funds.
The other 3 results are having less ratio as 20% wanted a mobile app to contact customer support, 19% wanted to open an account online without visiting the branch and 17% wanted to have their checks ordered and accessed in a single click by reordering it online.
So, above we had a stats of reasons why you should have a mobile app for a bank or finance industry. With the deep research, we also were able to get the stats on mobile banking usage which will help you in knowing how important it is for you to have a mobile app.
Business insider intelligence recorded that mobile banking is no newer now and users need easy to use with security assuring mobile app of their bank where they can trust and perform an economic transaction without any fear.
With the study, mobile banking users recorded 89% and when it comes to millennials’ indication, it was recorded a huge 97% of mobile banking users.
Mobile banking usage statistics
Do you know how big is the US banking industry? US banking industry can be termed as the backbone of the US’s economy where concerned authorities are liable to offer easy, liberal, consumer-centric and society benefiting mobile banking solutions which can be made possible by having the skilled and expert finance management software personnel.
Let us see, How big is the US banking industry?
The USA alone is the huge market of the world where its banking system had $17.9 trillion at the end of the year 2018 which constantly growing. With the private credit assigning the policy to any country of the world and diversity in banking institutions, the US’s banking sector stands like a strong elder brother in the world’s economy.
Features you will get building better banking and finance cross-platform web applications with ASP.Net core
The key benefits of using web banking applications are:
Cross-platform Banking and financial web application can be built for multiple platforms with the one-time coding in asp.net core technology
Banks and finance web applications need to support all platforms. With the introduction of .Net Core, it is now possible and easy to create apps and deploy them on Linux, Mac, and Windows platforms.
It is now possible to create a cross-platform solution with the use of xamarin and asp.net core to avail of maximum features and capabilities for your mobile banking application.
Container Support Containers are eating clouds and madness is with few technologies such as Docker, Kubernetes, etc. Microsoft ASP.Net core allows developers to use these technologies and Azure supports in deploying the application to containers and Kubernetes.
High performance
I agree when someone says that speed matters to experience better performance and better results of your application. And also have the answer to that query. The latest ASP.Net Core and Kestrel web server, after compiling the code .net core automatically optimizes the code and enhances the performance and makes ASP.Net core the fastest application framework.
Cross-Site Request Forgery Protection When it comes to money, personal information (Data) in technology, security is one of the most important factor to prevent cyber attacks. It becomes the need to work hard stop cyber attackers from stealing the data or money.
-67% banking customers worry about the security using mobile device for mobile banking -48% users switch the bank if experienced the poor security of the app -38% will use basic features only
Breakdown by country
Brazil = 84% Singapore = 77% Mexico = 71% USA = 54% UK = 49% CSRF is the attack where a cyber hacker is sending the request to a vulnarable site (that is weak in sense of security) from the malignant site where the user is logged in. If the attack is successful, this will allow hacker to step in the account completely and will be able to change email address, can change password of the account, or can even transfer funds.
ASP.NET MVC uses anti forgery tokens to prevent sites from CSRF attacks. It is also called request verification tokens where server includes 2 tokens, one token is sent as a cookie and the other is placed in the hidden form fields.
Here is an example with an hidden form token of an HTML form:
Updates are not a pain: It was hard for the ASP.Net development company to update new changes as it was mandatory for them to launch a new framework version with it.
.Net core is diff from the .net framework and it has the NuGet package to manage every update which manages and updates the new changes whenever it comes.
Productivity: Microsoft has utilized all money and experience in introducing .net core with libraries like WebAPI, SignalR, Odata, EntityFramework, and language features like Linq which ensures the high productivity which is just dreamt by Java Developers.
Supports cloud-based development: It is always advised to develop a cloud-based application for heavy loaded projects that need world-class quality. ASP.Net core support completely for cloud-based application. You need a rich-featured app or world-class app, ASP.Net core offers development for all no matter if it is IoT apps, Mobile backend or web applications.
Advantages of ASP.Net Core
Learn more about Banking & Finance Web App Development Using .Net Core
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Jeff is a CEO of i-Verve INC that is based in New Jersey USA, who has more than 10+ years of experience in developing Mobile, Web, Enterprise App, Cloud & Microsoft Technologies solutions for businesses and startups across the globe. He has a knack of creating beautiful web/mobile portals in all platforms which turns local stores into global superstores. Jeff loves experimenting with new ideas to help clients win more customers and generate revenue to cash in more profits.
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| By Jeff Harvey On 11 Jan, 21 Viewed: 1,031 |
*“For the first time in Microsoft .NET history, you can build cross-platform Web Apps and deploy them on Windows, Linux and Mac OSX devices.”* ASP.Net core is an open-source cross-platform framework that offers MVC structure, web API, and all the services needed to build a specific... By Jeff Harvey On 11 Jan 2021 Viewed: 2,704
Microsoft is ending the official support for .NET Core 2.1 from August 21, 2021 which means Microsoft will no longer be providing updates, security fixes and technical support for it beyond the announced date. Microsoft is strongly advising users to upgrade their Microsoft products and .NET Core... By Jeff Harvey On 22 Apr 2021 Viewed: 4,246