Austria has been mostly conservative in its financial practices. However, even here, the rise of mobile banking shows just how much consumer behavior has shifted over the past few years. While cash and traditional banking services remain prevalent, the digital landscape is experiencing steady growth, propelled by the emergence of mobile banking applications.

This article delves deeper into the role of UX (user experience) in attracting users to digital platforms and some of the most popular mobile banking apps on the Austrian market.

Mobile banking in Austria: why is the digitalization of financial services a win-win?

Two primary forms of mobile banking dominate the Austrian market: stand-alone, independent mobile banks and mobile banking apps offered by traditional banks. While both categories offer similar services, traditional banks often provide a broader spectrum of financial products such as overdrafts, insurance, and investments.

Despite this, mobile banking offers compelling advantages. Digital-only interfaces eliminate the need for physical paperwork, reducing environmental impact and streamlining complex financial processes. Moreover, they circumvent traditional banking fees, including account management fees and in-person transaction charges.

Most Austrian banking apps furnish users with a comprehensive suite of services, including account management, transfers, contactless payments, investment tracking, and more. However, the efficacy of these services heavily depends on the user experience (UX) design, as emphasized in a report by a popular UX agency. You can read the full report on mobile banking in Austria at Ergomania.

Here are some of the most notable examples of applications with a quality user experience mentioned in the report:

Erste George: mobile banking with style

Modern banking applications have undergone a visual transformation. They embrace engaging interfaces designed to enhance transparency and user experience. Erste George is one of the best examples of this, as it employs vibrant colors and minimalist UX design to create a user-friendly platform. By utilizing contrasting colors and intuitive layouts, Erste George ensures consistent usability across its interface.

Bank Austria’s mobile banking solution: a focus on online account storage

The integration of Optical Character Recognition (OCR) technology has revolutionized banking applications, simplifying tasks such as invoice scanning and IBAN identification. Bank Austria’s has made full use of this opportunity by offering users the ability to store digital invoices seamlessly. A brief onboarding session guides users through the scanning process, ensuring all new users can understand the functions and benefits of the app easily, contributing to an excellent user experience.

N26: a mobile banking app in Austria that uses cards instead of lists

N26 adopts a card-based interface, replacing traditional lists with visually appealing card elements. This UX design choice improves readability and navigation, allowing users to locate desired features swiftly. N26 promotes user engagement by presenting information in a concise and organized manner.

Raiffeisen Mein Elba: The importance of progressive display in mobile banking

Raiffeisen Mein Elba prioritizes progressive disclosure in its mobile banking design, presenting information in manageable segments. The app’s home page displays accounts in a concise manner, with no overload of information, contributing to a seamless UX. Additional details are accessible through a simple click. By utilizing scrollable accounts, Raiffeisen Mein Elba mobile banking solution maximizes screen space without overwhelming its Austrian target audience.

Easybank: A mobile banking app with useful notifications

Effective notification management is crucial for a positive UX in mobile banking, balancing timely updates with user preferences. Easybank excels in this regard, allowing users to customize notification settings based on their preferences. By empowering users to select relevant notifications, Easybank makes sure that its Austrian users are satisfied.

Mobile banking in Austria and UX – The conclusion

The rise of mobile banking in Austria reflects a broader European trend, with traditional banks striving to match the innovation of digital counterparts.

While notable advancements have been made, opportunities for further innovation persist, including the integration of virtual assistants, gamification, map-based transactions, and built-in banking keyboards. Collaboration with fintech companies presents a promising avenue for future enhancements, enabling banks to expand their service offerings rapidly.

As the Austrian mobile banking landscape evolves, competition will intensify, driving continued innovation and enhancing the user experience. The future holds exciting possibilities for mobile banking in Austria, which also depend on the industry’s ability to surpass emerging challenges and exceed user expectations.

MTN Ghana and Mobile Money LTD have announced their sponsorship of the 2024 3i Africa Summit, scheduled to take place from May 13th to May 15th, 2024, at the Accra International Conference Centre. 

The 3i Africa Summit is a collaborative initiative by the Bank of Ghana, the Development Bank of Ghana, and the Monetary Authority of Singapore to showcase and stimulate Africa’s Fintech and digital potential. It is being organized under the theme “Unleashing Africa’s FinTech and Digital Economic Potential” and is focused on transforming Africa’s economic landscape through sustainable, long-term capital allocation. 

Commenting on the reason for the sponsorship, the CEO of MTN Ghana, Stephen Blewett, said, “MTN’s objective is to lead digital solutions for Africa’s progress by leveraging our footprint, infrastructure, and technology platforms”. 

He further stated, “The partnership with the 3i Africa summit confirms MTN’s commitment to Africa’s digital transformation”. Blewett believes that the insights and contributions shared at this summit will foster collaborative efforts toward harnessing technology’s transformative power for the benefit of all Africans.

Shaibu Haruna, CEO of Mobile Money LTD, added that the common goal of Mobile Money LTD is to bridge the gap between FinTech and Banking to promote financial inclusion. He stated that the partnership between MobileMoney LTD and 3i Africa illustrates their shared commitment to a sustainable future. By providing financial and digital solutions for both consumers and businesses, FinTech can be used to promote economic growth in Africa.

MTN executives from Ghana and MTN Group will participate in discussions on topics such as infrastructure investment, interoperability of payment systems, and Africa’s FinTech Revolution.

Among the distinguished speakers from MTN are Stephen Blewett, CEO of MTN Ghana, Shaibu Haruna, CEO of Mobile Money Limited Ghana, Angela Mensah-Poku, Chief Enterprise Business Officer MTN Ghana, and Dario Bianchi, Chief Digital Officer -MTN Ghana.

Serigne Dioum CEO- of Group Fintech and Cedric Nguessan- of MTN Group Finco Payments and E-Commerce from MTN Group will be speaking whilst Eli Hini, CEO of MoMo PSB, Nigeria will also be part of the discussions.  

WNBA Golden State has proudly announced the appointment of Ghanaian-American Ohemaa Nyanin as its new general manager, effective next week. (more…)

No doubt the real estate market in Dubai is unstoppable. Looking for the perfect apartment in this vibrant city has become increasingly competitive and complex. 

With a myriad of choices available, including luxury high-rise developments, waterfront resort-style properties, and suburban communities, finding the ideal apartment requires careful thinking of several factors that come into play: the right location, amenities, allocated budget, and future market trends. 

Here, we explore the essential steps and strategies for finding ideal apartments for sale in Dubai.

Get to know Dubai’s Real Estate market

Before embarking on the search, try to gain a comprehensive understanding of the real estate market in the city. Dubai’s real estate sector is highly saturated and known for its dynamic nature, with diverse offerings catering to various preferences and lifestyles. 

The evolving market is influenced by aspects such as economic growth, government policies, and global trends, all of which may impact property prices, demand, and supply.

One of the key considerations when navigating the market trends and reports is the concept of freehold ownership, which allows expats and foreign investors to own property in designated areas of the city. Understanding the magnitude of freehold ownership and leasehold and off-plan properties is just as important. 

Round off your best preferences and needs

The quest for the perfect apartment begins with a clear map of your preferences, lifestyle, and needs. Taking into account the desired location, property size, amenities, public transport, and budget will serve as the foundation for your search. Dubai offers diverse residential options, from urban high-rises in the heart of the city to tranquil suburban communities. 

Researching neighbourhoods and property developments

Renowned for its diverse array of neighbourhoods and developments, Dubai offers a unique living experience. Conducting thorough research on different areas and projects will help you narrow down your search and focus on locations that align with your lifestyle. 

You can explore upscale communities like Dubai Marina, Downtown Dubai, Jumeirah Beach Residence (JBR), and Palm Jumeirah area, known for their waterfront living, fancy amenities, family-centric and vibrant atmospheres. 

Consider upcoming developments and emerging areas that may present promising investment opportunities or desirable living spaces. Dubai South, Dubai Creek Harbour, and Mohammed Bin Rashid City are witnessing rapid growth and are set to redefine the city’s residential landscape in the coming years.

Reaching out to Real Estate professionals and agents

Navigating the Dubai real estate market can be complex, especially for those who are unfamiliar with the local scene. So, engaging with reputable real estate professionals, such as licensed agents and property consultants, can greatly help with your search. 

Real estate professionals have expert knowledge of the market, negotiating deals, navigating legal procedures, and access to a wide property portfolio. When seeking the assistance of a real estate agent, make sure they are registered with the Dubai Land Department (DLD) and stick to professional standards and ethics. 

Assessing property amenities and facilities

When evaluating potential apartments try to assess the amenities and facilities offered within the development. Modern residential complexes usually come with an extensive list of amenities, ranging from state-of-the-art fitness centers and swimming pools, and fast-moving elevators to landscaped gardens, children’s play areas, and recreational spaces for social gatherings. 

Also, take note of the quality of facilities; the design and maintenance of common areas, the availability of parking spaces, and the overall ambiance whether it is safe. 

Evaluating investment potential and future growth

Buying an apartment in Dubai comes down to two things: residential investment and a financial opportunity. So, gauging the investment potential and future growth prospects of a property is imperative during the decision-making process, especially if you consider long-term ownership or rental income.

Make sure to keep an eye on the development plans and infrastructure projects in the vicinity, and the overall growth rotation of the neighbourhood or district. By conducting an investment landscape analysis, an informed decision can be made. 

Navigating through the legal paperwork and financial considerations

The process of purchasing an apartment involves a series of legal and financial estimations that mandate due diligence and attention. In Dubai, property transactions are generally regulated by the Dubai Land Department (DLD), which oversees the registration of real estate transactions, the issuance of title deeds, and property laws and regulations. 

Familiarize yourself with the legal procedures involved in property purchase, including property title verification, sales agreement completion, and the payment of transfer fees and taxes. You can get in touch with financial institutions and mortgage advisors to explore financing options, interest rates, and repayment terms that align with your financial capacity.

Conducting property viewings and inspections

After shortlisting potential apartments take the time to conduct property viewings and inspections to properly assess the actual suitability of the units. Schedule viewings with real estate agents to gain firsthand experience of the apartment, its layout, and the surrounding environment.

Pay attention to the quality of finishes, the functionality of fixtures and appliances, and the overall maintenance of the unit. Assess factors such as natural lighting, ventilation, views from the apartment, noise levels, and privacy within the building.

Negotiating purchase pay of your preferred apartment

Now is the time to make an informed decision and proceed with the purchase process. Take a final look at the overall value proposition of the property, its alignment with your preferences and lifestyle, and the potential for future appreciation and returns. 

Seek to strike a balance between your budgetary constraints and the perceived property value, along with benefits or incentives that are included in the deal.

Finalizing the purchase and property transfer

The next step is completing the necessary legal and financial procedures to fully transfer ownership of the property. This process can involve preparing and signing the sales contract, the payment of the purchase price, and the property registration with the Dubai Land Department. 

Reach out to legal advisors or conveyancing professionals to assist you with the contract review and if it adheres to local regulations. After that,  the keys to your new home will be handed over.

Final Thoughts

Buying an apartment in Dubai is a multi-faceted journey that demands thorough research, careful consideration, and informed decision-making. Whether it is a luxurious waterfront residence, a contemporary urban abode, or a serene suburban retreat you’re looking for, Dubai offers a diverse range of options to cater to your aspirations and lifestyle. 

Antoinette Kwofie, Chief Finance Officer of MTN Ghana, has been recognized as one of the Top 50 Women of Impact Honourees by Evoke Impact. This award celebrates outstanding women who have made significant contributions to their industries and communities through their consistent dedication to work. It also honours women who have broken barriers in non-traditional roles and are paving the way for future generations of female leaders.

The citation presented to Antoinette reads—”It is with great honor and admiration that Evoke Impact recognizes you as one of the Outstanding Woman of Impact 2024, celebrating your outstanding achievements and transformative leadership in the field of finance.

As an Executive Director and Chief Finance Officer of MTN Ghana, you have shattered barriers and set new standards of excellence in the industry. Your visionary leadership, strategic acumen, and unwavering commitment to driving financial innovation have not only propelled MTN Ghana to new heights but have also inspired countless individuals in Ghana and beyond.

Your passion for excellence, coupled with your tireless advocacy for women’s empowerment, has earned you numerous accolades and recognition, including CFO of the Year, Woman CFO of the Year, and Finance Personality of the Year. Your impact extends far beyond the boardroom, as you continue to mentor and empower the next generation of female leaders”.

Antoinette expressed her appreciation to the organizers for recognizing her with the Women of Impact award. She promised to continue to support and mentor young women to help them advance in their professional careers. The award ceremony was hosted by Evoke Impact and was attended by prominent individuals, dignitaries, and change-makers in Ghana.

The anticipation is palpable as the 10th edition of the Africa Magic Viewers’ Choice Awards, scheduled for 11 May 2024, in Lagos approaches. Viewers are invited to witness the splendour of this prestigious event, broadcasting live on Africa Magic from 3pm on DStv and GOtv.

Reflecting the rich diversity and innovation of African cinema and television, this year’s awards promise some thrilling adjustments with the introduction of exciting new categories such as Best Actor and Best Actress in leading or supporting roles. With a total of 27 categories, including 16 non-voting and 9 audience voting categories, along with two esteemed recognition awards the Lifetime Achievement and Trailblazer Awards – there’s ample opportunity to honour exceptional African talent.

Kicking off the festivities with a prime view of the red carpet hosted by celebrity personalities Toke Makinwa and Uti Nwachukwu viewers can watch the continent’s biggest stars strut their stuff in dazzling creations from some of Africa’s most talented fashion designers from 3pm before settling into the prestigious awards at 6pm.

The main award will be hosted by renowned television host and current host of Nigerian Idols IK Osakioduwa and will feature musical performances from Nigeria’s popular performers Seyi Sodimu, Shaffy Bello, Adekunle Gold, KCee, Chike and Congolese soukous singer Awilo Logomba throughout the awards ceremony.

Save the date for this Saturday, 11 May, and tune in for the live broadcast across all Africa Magic Channels on DStv and GOtv. Don’t miss this remarkable celebration of African creativity and achievement!

Keep your DStv subscription activated to ensure you don’t miss the star-studded event! To upgrade, reconnect or manage your subscription download the MyDStv app on your mobile app store or visit www.dstv.com to join in on the excitement and manage your account. You can also catch all the action while on the move. Stream all content on the DStv Stream app by downloading it from the app store.