Newgen Software has unveiled LumYn, a GenAI-powered hyper-personalization platform specifically designed for the banking sector. This innovative platform aims to enhance profitability and significantly improve customer experiences by providing banks with a deeper understanding of customer needs, behavior, preferences, and intent.
LumYn combines predictive intelligence with advanced conversational AI, allowing business users to interact with customer data seamlessly. It offers rapid development capabilities, enabling banks to address unique business challenges quickly and adapt to changes efficiently through a low-code environment.
The platform’s key features include creating behavioral segments based on spending habits and lifestyles to maximize customer lifetime value, accelerating time-to-market with a library of pre-built AI models, and ensuring data transparency, security, and privacy.
Virender Jeet, CEO of Newgen Software, emphasized that LumYn’s GenAI capabilities allow it to adapt to customers’ evolving preferences and life stages, providing a more nuanced and effective personalization tool for banks.
Newgen’s LumYn is set to redefine customer interaction in the banking industry, offering a powerful tool to stay competitive in an ever-evolving market, the company said in a media note.
