Newgen Introduces 1st Hyper-personalization AI Platform in MEA

Newgen Software, a leading global provider of low-code digital transformation platforms, has announced the launch of LumYn in the Middle East. This groundbreaking Gen AI-powered hyper-personalisation platform is designed specifically for the banking sector.

Addressing the Demand for Personalized Banking

LumYn addresses the growing demand within the financial sector in the Middle East region for more personalised services and tailored solutions. It combines 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. LumYn accomplishes this while ensuring data privacy and security.

Virender Jeet, CEO of Newgen Software, said: “LumYn is not just a personalised AI platform; it is hyper-personalised, layered with Gen AI capabilities. This means that LumYn goes beyond traditional personalisation by understanding and adapting to customers' evolving preferences, behaviours, and life stages in real-time.”

Key Features of LumYn

- Conversational AI: This feature allows business users to seamlessly interact with customer data using natural language. This includes transactions, behaviours, and interactions. It facilitates insight generation, empowering businesses to develop effective growth strategies.

- Customizable AI Models: LumYn offers customizable AI models to address specific business challenges and promote growth. The platform's low-code capabilities allow for quick iteration and refinement, resulting in rapid adaptability to changing business needs.

- Behavioural Segmentation: A key feature is strengthening customer relationships by creating behavioural segments based on spending habits and lifestyles. This enables businesses to launch targeted marketing campaigns that maximize customer lifetime value and enhance overall engagement.

- Pre-Built AI Models: LumYn leverages a comprehensive library of pre-built AI models, delivering faster insights and quicker deployment. This acceleration enhances cross-sell opportunities and improves overall market responsiveness, helping businesses stay ahead of the competition.

- Security and Privacy: LumYn is built on robust technologies that prioritize security and privacy, ensuring complete data transparency with visible modelling processes. This commitment to reliability and security makes LumYn a trustworthy AI solution for banks.

LumYn: Redefining Customer Interaction in Banking

Rajan Nagina, Head of AI, Newgen Software, added: “We are delighted to introduce LumYn to our portfolio. The 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.”

Newgen's LumYn is set to redefine how banks interact with their customers in the Middle East. It offers a powerful tool to stay competitive in an ever-evolving market.