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Revolutionizing CX in Banking in 2024: How Banking Apps are Leveraging AI for Enhanced Customer Engagement

In today’s digital age, banking apps have become a critical tool for customers to manage their finances. With the rise of fintech and open banking,

With Gen AI coming into the picture, banks are leveraging AI to not only streamline their back-end processes but also provide hyper-personalized experiences and enhance customer engagement. According to McKinsey Global Institute, gen AI could add $2.6 trillion to $4.4 trillion annually in value with banking predicted to have one of the largest opportunities.

In this article, we’ll explore how banking apps are leveraging AI to transform the banking industry and revolutionize CX in 2024.

The Rise of Banking Apps

Fintech app

According to a study by the Federal Reserve, 53% of smartphone users have used mobile banking in the past 12 months, and this number is expected to continue to rise. As more customers turn to banking apps for their financial needs, banks are under pressure to provide a seamless and personalized CX to stay competitive.

How AI is Revolutionizing CX in Banking Apps

Personalized Recommendations and Insights

AI in banking

One of the key ways that AI is transforming CX in banking apps is through personalized recommendations and insights. By analyzing a customer’s financial data, AI algorithms can provide personalized recommendations for financial products and services that best suit their needs. This not only helps customers make more informed decisions but also increases the likelihood of cross-selling and upselling for banks.

AI can also provide valuable insights into a customer’s spending habits, allowing banks to offer personalized budgeting and financial planning tools. This not only improves the CX but also helps customers better manage their finances.

With Gen AI’s capability to summarize and contextualize documents from ample unstructured data, those working within customer contact functions can get a more comprehensive view saving their time and effort and thus improving their efficiency. 

Chatbots for 24/7 Customer Support

Another way that AI is enhancing CX in banking apps is through the use of chatbots for customer support. Chatbots are AI-powered virtual assistants that can communicate with customers in natural language, providing quick and efficient support. They can handle a wide range of inquiries, from basic account information to more complex issues, without the need for human intervention.

By using chatbots, banks can provide 24/7 customer support, improving the overall CX for customers. This also reduces the workload for human customer service representatives, allowing them to focus on more complex inquiries.

Fraud Detection and Prevention

Fraud detection

AI is also playing a crucial role in fraud detection and prevention in banking apps. By analyzing a customer’s spending patterns and transaction history, AI algorithms can identify suspicious activity and flag it for further investigation. This not only helps banks prevent fraud but also provides customers with peace of mind knowing that their accounts are being monitored for any unusual activity.

Predictive Analytics for Better Decision-Making

AI-powered predictive analytics is another way that banking apps are leveraging AI to enhance CX. By analyzing a customer’s financial data, AI algorithms can predict future spending patterns and provide insights for better decision-making. This can help customers plan for major purchases, budget more effectively, and make informed investment decisions.

The Future of AI in Banking Apps

Voice-Activated Banking

As AI technology continues to advance, we can expect to see more voice-activated banking features in the future. Customers will be able to use their voice to check their account balance, make transfers, and even apply for loans. This will provide a more convenient and hands-free way for customers to manage their finances.

Hyper-Personalization

With the help of AI, banking apps will be able to provide hyper-personalized experiences for customers. This means that every aspect of the CX, from product recommendations to customer support, will be tailored to the individual customer’s needs and preferences. This will not only improve the CX but also increase customer loyalty and retention.

Advanced Fraud Detection and Prevention

As AI technology continues to evolve, we can expect to see more advanced fraud detection and prevention measures in banking apps. AI algorithms will be able to analyze a customer’s behavior in real-time and identify potential fraud before it happens. This will provide customers with even more security and peace of mind when using banking apps.

Conclusion

AI is revolutionizing CX in banking apps, providing customers with a more personalized, convenient, and secure banking experience. With increasing competition and changing consumer expectations, banks must embrace AI to stay competitive and meet the evolving needs of their customers. With the advancements in AI technology, we can expect to see even more innovative features and improvements in the CX of banking apps in the future.

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Empowering Frontline Healthcare Sales Teams with Mobile-First Tools

In healthcare, field sales is more than just hitting quotas—it’s about navigating a complex stakeholder ecosystem that spans hospitals, clinics, diagnostics labs, and pharmacies. Reps are expected to juggle compliance, education, and relationship-building—all on the move.

But, traditional systems can’t keep up. 

Only 28% of a rep’s time is spent selling; the rest is lost to administrative tasks, CRM updates, and fragmented workflows.

Salesforce, State of Sales 2024

This is where mobile-first sales apps in healthcare are changing the game—empowering sales teams to work smarter, faster, and more compliantly.

The Real Challenges in Traditional Field Sales

Despite their scale, many healthcare sales teams still rely on outdated tools that drag down performance:

  • Paper-based reporting: Slows down data consolidation and misses real-time insights
  • Siloed CRMs: Fragmented systems lead to broken workflows

According to a study by HubSpot, 32% of reps spend at least an hour per day just entering data into CRMs.

  • Managing Visits: Visits require planning, which may involve a lot of stress since doctors have a busy schedule, making it difficult for sales reps to meet them.
  • Inconsistent feedback loops: Managers struggle to coach and support reps effectively
  • Compliance gaps: Manual processes are audit-heavy and unreliable

These issues don’t just affect productivity—they erode trust, delay decisions, and increase revenue leakage.

What a Mobile-First Sales App in Healthcare Should Deliver

According to Deloitte’s 2025 Global Healthcare Executive Outlook, organizations are prioritizing digital tools to reduce burnout, drive efficiency, and enable real-time collaboration. A mobile-first sales app in healthcare is a critical part of this shift—especially for hybrid field teams dealing with fragmented systems and growing compliance demands.

Core Features of a Mobile-First Sales App in Healthcare

1. Smart Visit Planning & Route Optimization

Field reps can plan high-impact visits, reduce travel time, and log interactions efficiently. Geo-tagged entries ensure field activity transparency.

2. In-App KYC & E-Detailing

According to Viseven, over 60% of HCPs prefer on-demand digital content over live rep interactions, and self-detailing can increase engagement up to 3x compared to traditional methods.
By enabling self-detailing within the mobile app, reps can deliver compliance-approved content, enable interactive, personalized detailing during or after HCP visits, and give HCPs control over when and how they engage.

3. Real-Time Escalation & Commission Tracking

Track escalation tickets and incentive eligibility on the go, reducing back-and-forth and improving rep satisfaction.

4. Centralized Knowledge Hub

Push product updates, training videos, and compliance checklists—directly to reps’ devices. Maintain alignment across distributed teams. 

5. Live Dashboards for Performance Tracking

Sales leaders can view territory-wise performance, rep productivity, and engagement trends instantly, enabling proactive decision-making.

Case in Point: Digitizing Sales for a Leading Pharma Firm

Mantra Labs partnered with a top Indian pharma firm to streamline pharmacy workflows inside their ecosystem. 

The Challenge:

  • Pharmacists were struggling with operational inefficiencies that directly impacted patient care and satisfaction. 
  • Delays in prescription fulfillment were becoming increasingly common due to a lack of real-time inventory visibility and manual processing bottlenecks. 
  • Critical stock-out alerts were either missed or delayed, leading to unavailability of essential medicines when needed. 
  • Additionally, communication gaps between pharmacists and prescribing doctors led to frequent clarifications, rework, and slow turnaround times—affecting both speed and accuracy in dispensing medication. 

These challenges not only disrupted the pharmacy workflow but also created a ripple effect across the wider care delivery ecosystem.

Our Solution:

We designed a custom digital pharmacy module with:

  • Inventory Management: Centralized tracking of sales, purchases, returns, and expiry alerts
  • Revenue Snapshot: Real-time tracking of dues, payments, and cash flow
  • ShortBook Dashboard: Stock views by medicine, distributor, and manufacturer
  • Smart Reporting: Instant downloadable reports for accounts, stock, and sales

Business Impact:

  • 2x faster prescription fulfillment, reducing wait times and improving patient experience
  • 27% reduction in stock-out incidents through real-time alerts and inventory visibility
  • 81% reduction in manual errors, thanks to automation and real-time dashboards
  • Streamlined doctor-pharmacy coordination, leading to fewer clarifications and faster dispensing

Integration Is Key

A mobile-first sales app in healthcare is as strong as the ecosystem it fits into. Mantra Labs ensures seamless integration with:

  • CRM systems for lead and pipeline tracking
  • HRMS for leave, attendance, and performance sync
  • LMS to deliver ongoing training
  • Product Catalogs to support detailing and onboarding

Ready to Empower Your Sales Teams?

From lead capture to conversion, Mantra Labs helps you automate, streamline, and accelerate every step of the sales journey. 

Whether you’re managing field agents, handling complex product configurations, or tracking customer interactions — we bring the tech & domain expertise to cut manual effort and boost productivity.

Let’s simplify your sales workflows. Book a quick call.

Further Reading: How Smarter Sales Apps Are Reinventing the Frontlines of Insurance Distribution

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