Newgen Software has unveiled LumYn, the world’s inaugural Gen AI-fueled hyper-personalization platform tailored exclusively for the banking domain. This pioneering platform is poised to revolutionize profitability and elevate customer experiences across global banks. In response to the contemporary financial climate, where personalized service is paramount, LumYn amalgamates predictive intelligence with advanced conversational AI functionalities. This fusion empowers banks to cultivate a profound understanding of each customer’s needs, behaviors, preferences, and intentions, thereby fostering deeper engagements while upholding data privacy and security standards.

Key highlights of LumYn encompass its conversational AI, facilitating natural language interactions for business users to glean insights from customer data effortlessly. Its rapid development capabilities, driven by customizable AI models and a low-code platform, ensure swift adaptation to evolving business needs. LumYn’s focus on maximizing customer lifetime value is achieved through the creation of behavioral segments and targeted marketing campaigns based on spending habits and lifestyles. Additionally, leveraging a rich repository of pre-built AI models expedites insights delivery and deployment, enhancing cross-selling opportunities. Importantly, LumYn prioritizes data transparency and security, underpinned by robust technologies, ensuring a reliable AI solution for banks.

Virender Jeet, CEO of Newgen Software, stated“LumYn is not just a personalized AI platform; it’s a hyper-personalized one, layered with Gen AI capabilities. This means that LumYn goes beyond traditional personalization 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.”

Newgen’s LumYn heralds a paradigm shift in how banks engage with their customers, providing a potent instrument to maintain competitiveness in an ever-evolving market landscape.