Newgen Software, a global provider of low-code digital transformation platforms, has launched LumYn, a Gen AI-powered hyper-personalisation platform designed specifically for the banking sector. The company claims this growth intelligence platform is set to enhance profitability and significantly improve customer experiences for banks worldwide.
LumYn addresses customers’ demand for personalised service and tailored solutions by combining predictive intelligence with advanced conversational AI capabilities. This enables banks to build a hyper-personalised understanding of each customer’s needs, behaviour, preferences, and intent to drive deeper engagements, while ensuring data privacy and security.
Virender Jeet, CEO of Newgen Software, commented on this innovation, “LumYn is not just a personalised AI platform, but a hyper-personalised one, layered with Gen AI capabilities. LumYn goes beyond traditional personalisation by understanding and adapting to customers’ evolving preferences, behaviours, and life stages in real-time.”
Some key features of LumYn include conversational AI, which enables business users to interact with customer data (transactions, behaviour, and interactions) using natural language, and customisable AI models to tackle unique business challenges, promoting growth. The platform also aims to strengthen customer relationships by creating behavioural segments based on spending habits and lifestyles, enabling targeted marketing campaigns. Apart from all this, it leverages a library of pre-built AI models to deliver faster insights and quicker deployment, enhancing cross-sell opportunities. LumYn also ensures data transparency with visible modelling processes.
“This platform’s ability to derive actionable insights from customer behaviours 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,” added Rajan Nagina, Head of AI, Newgen Software.