Try : Insurtech, Application Development

AgriTech(1)

Augmented Reality(21)

Clean Tech(9)

Customer Journey(17)

Design(45)

Solar Industry(8)

User Experience(68)

Edtech(10)

Events(34)

HR Tech(3)

Interviews(10)

Life@mantra(11)

Logistics(6)

Manufacturing(3)

Strategy(18)

Testing(9)

Android(48)

Backend(32)

Dev Ops(11)

Enterprise Solution(33)

Technology Modernization(9)

Frontend(29)

iOS(43)

Javascript(15)

AI in Insurance(39)

Insurtech(67)

Product Innovation(59)

Solutions(22)

E-health(12)

HealthTech(24)

mHealth(5)

Telehealth Care(4)

Telemedicine(5)

Artificial Intelligence(153)

Bitcoin(8)

Blockchain(19)

Cognitive Computing(8)

Computer Vision(8)

Data Science(23)

FinTech(51)

Banking(7)

Intelligent Automation(27)

Machine Learning(48)

Natural Language Processing(14)

expand Menu Filters

CX Trends for Banking In India, 2022

Traditional banking relationships are based on years of face-to-face customer care, but modern banking relationships are based on a customer’s ability to swiftly access banking goods and services digitally, via their phone or any device.

According to Deloitte, only 11% of financial institutions throughout the world have properly upgraded their core systems. Other banks, on the other hand, are having difficulty implementing modern technologies.

The challenges being faced by Indian banks:

Public Sector Banks struggling with economies of scale are not able to unleash technology on full scale to pass on low costs to consumers so far and despite the abundance of solution providers ready to help, more than half of the companies said they are having difficulty deploying artificial intelligence (AI).

Financial institutions will need to use new technologies that enhance agility, efficiency, security, and innovation to address these issues and become future-ready. Intelligent decisioning, open banking APIs, embedded solutions, cloud computing, metaverse banking, and cybersecurity will differentiate banks and credit unions in 2022 and beyond. Every technology deployment should make a concerted effort to improve digital consumer experiences on a big scale and in a timely manner.

Trends Revamping Customer Experience in Banking for 2022

AI and applied analytics

AI and advanced analytic algorithms can project reports on the organization’s processes and employees may use this data to improve back-office processes, customer service, loyalty, revenues, and save money and time.

Financial institutions will be able to provide the greatest value-added services in terms of client demands and preferences owing to AI and applied analytics. Personalized and contextual communication will explain how products and services fit customers’ needs in near-real time, reducing both engagement costs and financial consequences. At scale and in real-time, proactive and dynamic advising is also possible.

Conversation AI bots

With the development of chatbots, the high adoption rate of artificial intelligence (AI) has been leveraged to focus on customer happiness.

According to Mordor Intelligence, the chatbot industry was worth USD 17.17 billion in 2020 and is expected to grow to USD 102.29 billion by 2026, with a CAGR of 34.75 percent between 2021 and 2026.

Chatbots in the banking industry uses cognitive analytics to facilitate communication and establish customer relationships by learning what consumers are thinking and responding instantly.

For instance, YES Bank introduced YES ROBOT, an AI-enabled chatbot to assist its customers. YES ROBOT uses conversational AI with vast financial knowledge to enable clients to conduct financial and non-financial banking transactions. Similarly, there’s Eva from HDFC, AXAA from Axis bank, ADI from Bank of Baroda, ABHi from Andhra bank and the list goes on.

Open Banking APIs

An open banking API approach can enable a variety of useful services for both users and providers.

Banking firms, for example, can collect useful data about buying habits, financial goals, and risk tolerance from both internal and external sources. This information can be utilized to improve multichannel marketing accuracy and provide proactive solutions and advisory services. It can aid in the introduction of services like phone banking, peer-to-peer lending, risk management, and loan processing, among others.

Despite the advantages, there are certain drawbacks, such as data security and financial privacy, the lack of grievance redressal procedures, compliance issues, and cybersecurity risks.

However, open banking models established by State Bank and Axis Bank make customer connections and transactions easier every day.

Neo Banking

According to Statista, the average transaction value per user in the Neobanking segment is US$4.71k in 2022 and is expected to expand at a rate of 20.60 percent annually (CAGR 2022-2026), resulting in a predicted total amount of US$101.40 billion by 2026.

Neo Banks are a cost-effective alternative to traditional banks, providing very convenient and user-friendly financial services specialized to a specific audience (both business and consumer). They provide savings accounts, prepaid cards, bill payments, and money transfers, as well as financial management services, 24-hour customer care, and high-security features. The user interface of the smartphone app is straightforward and intuitive. A transparent structure with a real-time notification feature.

Customer neo banks like Niyo, FamPay, Jupiter, and Fi raised $230 million in total in 2021. In the commercial neo banking industry, Open was reportedly valued at $500 million. Neo banking has a lot of space to grow in India, as smartphone imports (and usage) are continuously expanding.

Cloud Computing

According to a recent IDC report, approximately 80% of corporate banks in India will be using Cloud technology to run their trade finance and treasury workloads by 2024.

Cloud computing will open doors for banks to react rapidly to changing market conditions as well as obtain and analyze data in real-time, resulting in high engagement and personalization across all channels. Cloud technology will also help banks increase their customer base by providing a variety of mobile and application-based capabilities.

Embedded Finance

Embedded Finance has created an ecosystem in which any organization can offer innovative financial solutions on a single platform, spanning from credit card transactions to insurance, billing, and payments, all without requiring much human participation.

Embedded finance has played a critical role in India in encouraging the adoption of digital payments— UPI.

According to Statista, there were over 25 billion UPI transactions worth over 41 trillion Indian rupees in the fiscal year 2021. In the fiscal year 2025, the country’s transaction value is expected to exceed 128 trillion Indian rupees. The increase was due to a spike in peer-to-merchant transactions, implying that UPI might play a larger role in financial inclusion by bringing thousands of people from tier 3 cities and beyond into the digital economy.

Metaverse

A metaverse bank can provide a “telecommuting” center for employees and allow customers to roam around in their own virtual financial town, complete with a virtual branch and financial playground while interacting with content and a real-life agent through video chat.

Customers visiting virtual branches for excellent customer service, having a real-time mortgage broker visit their home, discussing retirement plans with an avatar advisor, attending an investor event, or participating in a bank-sponsored community programme are just a few of the new ways the metaverse has opened up for reaching out to new audiences, including a younger, more experienced generation of NFTs.

According to Lina Lim (HSBC, Asia Pacific), the metaverse ecosystem is still in its early stages, but it offers many interesting potentials as organizations of all sizes and backgrounds flock to it. Therefore, HSBC is investing $3.5 billion into its wealth and personal banking division.

What Lies Ahead

All of these trends lead to the Indian banking industry adopting technology quickly, but data security is a major worry for both banks and their consumers. Recently, Microsoft has made it possible for users to go password-free by using their Authenticator app. While this will not stop fraudsters from operating, as biometrics becomes more frequently used, it will provide an extra layer of security.

Cyberattacks are more common than any other sort of attack these days. Captchas and tick boxes are no longer adequate security measures. As a result, financial institutions must invest in data security and protection. Conduct audits and re-evaluations of existing systems. Above all, make sure that privacy policies don’t become a roadblock for customers.

Cancel

Knowledge thats worth delivered in your inbox

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

Cancel

Knowledge thats worth delivered in your inbox

Loading More Posts ...
Go Top
ml floating chatbot