Targeted product launches should happen 10 times faster and with a 2x increase in conversions in order to revolutionise the banking sector.
With LumYn, a revolutionary Gen AI-powered hyper-personalization platform created especially for the banking industry, Newgen Software, a leading global provider of low-code digital transformation platforms, is thrilled to announce its launch.
For banks throughout the world, this cutting-edge growth intelligence technology is expected to boost profitability and dramatically improve client experiences.
Customers in today’s financial environment expect individualised attention and customised solutions. In order to meet this demand, LumYn combines sophisticated conversational AI with predictive intelligence. This allows banks to create a highly personalised understanding of each customer’s needs, preferences, and intent to promote deeper engagements—all while maintaining data protection and privacy.
Key Features of LumYn:
- Conversational AI: Enables business users to interact with customer data (transactions, behavior, and interactions) using natural language, facilitating seamless insight generation and growth strategy development.
- Rapid Development: Customizable AI models tackle unique business challenges, promoting growth. The low-code platform allows for quick iteration and refinement, ensuring rapid adaptability.
- Maximized Customer Lifetime Value: Strengthens customer relationships by creating behavioral segments based on spending habits and lifestyles, enabling targeted marketing campaigns.
- Accelerated Time-to-Market: Leverages a comprehensive library of pre-built AI models, delivering faster insights and quicker deployment, enhancing cross-sell opportunities.
- Reliable and Secure AI: Ensures complete data transparency with visible modeling processes. Built on robust technologies that prioritize security and privacy, LumYn offers a trustworthy AI solution for banks.
Virender Jeet, CEO of Newgen Software, remarked on the launch: “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.“
With its potent tool to maintain competitiveness in a market that is constantly changing, LumYn from Newgen is poised to revolutionise the way banks engage with their clientele.