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Here’s how Neobanks are Changing the CX game in Banking

4 minutes read

“To change behavior, products must ensure the user feels in control. People must want to use the service, not feel they have to.”― Nir Eyal

Our life revolves around Swiggy, Uber, Dunzo, Urban Clap, and hundreds of applications that give us instant service, usage insights (for example, Swiggy shows the amount of money saved per month through the application usage), rewards, and personalized notifications. Customers are now addicted to this kind of habit and want similar experiences everywhere. What if they can have a banking experience in the same way they order food over Zomato or book an Ola cab via a mobile app. Neobanks are the Swiggy, Zomato of the banking world. Neo is a Greek word that means new. Neobanks are the modern version of traditional banks. Let’s look at how neobanks are changing the CX game in banking industry.

NEO Banks and the Gen Z

Gen Z’s (Generation Z) are the newest addition to the banking world. This generation has a deeply embedded expectation that everything they search for or buy online will be tailored and delivered right away. 

Additionally, Gen Z is a value-driven generation that seeks more value for their money. Their expectations are hyper-personalized experience, prompt deliveries, and on-demand services, higher user engagement, and value for money. And neo banks have been the first movers in decoding these expectations. They are positioning their brand as an online platform for millennials and Gen Z, offering financial services at a touch of a button. Their USP is convenient and simple user experience

For example, Jupiter money- a 100% digital banking company designed to target Gen Z and Millennials- helps users open an account within 3 minutes. “Jupiter has 3 main areas of focus at the moment — increasing user engagement on the platform, investment options, and introducing consumer lending services, which will help them monetize the platform”, says the company’s founder and chief executive officer (CEO) Jitendra Gupta. 

Neobanks are making it easy for users to keep a track of their expenses, and save and plan their investments wisely. But what else is different about them? Why are Gen Z and millennials hooked on this modern banking platform? Well, it’s all about the first impression. Neobanks have built the mobile app keeping the new Generation’s daily routines, actions, and habits in mind. They studied user behavior patterns to determine what compels and ticks these newer customer segments. Here’s how neobanks are changing the CX game in banking to win customers: 

  1. Real-time financial insights at the tip of a button: Customers can track their spending, saving status, and every financial activity on the app. 
  2. Interactive & Conversational App Design: Neobank apps do not have any physical branch yet they are appealing because of their amazing UI and application design. The look and feel of the application is more youthful and vibrant with a minimalistic design. Their focus is on user experience design and functionality, both.
Here's How Neobanks are Changing the CX Game in Banking
Here's How Neobanks are Changing the CX Game in Banking

Source: Jupiter

  1. Rewards & Benefits: Neobanks offer attractive offers and rewards to bring back users repeatedly on the app and retain them. For instance, customers get a 1% reward on all UPI and debit card purchases using Jupiter Money. They can also track their reward earnings in real-time. 

Where are the Traditional Banks heading towards?

Conventional banks focus more on the functionality of the application. Earlier, customers had to visit the branch physically to avail of banking services. Now they focus on bringing the banking service to the user’s ecosystem. Data and AI-driven personalization have been helping banking institutions to create seamless customer journeys for the users. They are leveraging technologies like metaverse, Virtual Reality (VR), and Augmented Reality (AR), to create offerings in the virtual world. Their USP (Unique Selling Proposition) is Customer Engagement. Gen Z is spending most of the time in this virtual space. Banks are leaving no stones unturned to mark their presence in the customer’s ecosystem. How? By creating an immersive experience for these users in the virtual space. IndusInd Bank launched a video branch, which allows customers to communicate with their bank executive in real-time. 

JP Morgan opened a lounge- Onyx in Decentraland. Bank of America launched VR training in over 4,300 financial centers. Lynx is working on introducing 1) A cryptocurrency-based game that allows players to create, earn and sell digital items with financial value and 2) An“enhanced remittance experience”:  A digital meeting space that allows those sending money to loved ones to visit and communicate with them in a “streamlined, entertaining, economical, and secure” manner.

The Road Ahead:

The Reserve Bank of India hasn’t allowed banks to become fully digital. This is one of the major challenges for Neobanks. Having a completely digital presence, they do not have a license. But they do have the technical expertise and Gen Z’s attention.

Neobanks with their technological expertise & Conventional banks with years of experience can together bridge the existing customer experience gap in the banking industry. Niyo, Jupiter, Razorpay have partnered with the traditional banks to deliver a seamless digital banking experience for their customers. According to the Redseer Strategy Consulting report, partnership profits both, giving neobanks a strong position and traditional banks access to young, tech-savvy customers. Recently, Visa and AI-driven neo bank OneBanc Technologies teamed up to launch the first magnetic-strip-free debit and credit cards in India. More than 300,000 new accounts with neo-banking partners have been launched by Federal Bank. 

In the end, it’s all about creating the best customer experience. And working in silos might turn out to be a disaster for both parties. Healthy cooperation may definitely help win customers. 

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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