Newgen Software, a leading provider of low-code digital transformation platforms, has unveiled LumYn, a groundbreaking Gen AI-powered hyper-personalisation platform tailored specifically for the banking sector. LumYn, touted as the world’s first of its kind, aims to revolutionise customer experiences and drive profitability for banks globally.
In response to increasing customer demands for personalised services and tailored solutions, LumYn combines predictive intelligence with advanced conversational AI capabilities. This unique amalgamation empowers banks to develop a comprehensive understanding of each customer’s individual needs, behaviors, preferences, and intent, thereby facilitating deeper engagements while ensuring robust data privacy and security measures.
Key features of LumYn include conversational AI, which allows seamless interaction between business users and customer data, rapid development through customisable AI models, and maximising customer lifetime value by creating behavioral segments based on spending habits and lifestyles. Additionally, LumYn offers accelerated time-to-market with its extensive library of pre-built AI models, ensuring reliable and secure AI solutions.
Virender Jeet, CEO of Newgen Software, remarked on the launch: “LumYn is not just a personalised AI platform; it’s a hyper-personalised one, layered with Gen AI capabilities. This means that LumYn goes beyond traditional personalisation by understanding and adapting to customers’ evolving preferences, behaviors, and life stages in real-time.”
Rajan Nagina, Head of AI, Newgen Software, added, “We are delighted to introduce LumYn to our portfolio. This platform’s ability to derive actionable insights from customer behaviors and preferences is a testament to Newgen’s expertise in banking and cutting-edge AI/ML technology. LumYn will significantly deepen customer engagement and drive business growth.”
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Newgen’s LumYn is poised to reshape the banking landscape, offering a powerful tool for banks to remain competitive in an increasingly dynamic market environment.
