Newgen Revolutionizes Middle East Banking With Gen AI-Powered Personalisation Platform

Newgen Software has unveiled LumYn, a Gen AI-powered hyper-personalisation platform tailored for the banking industry, in the Middle East. The platform aims to boost profitability and enhance customer experiences for banks in the region and worldwide. LumYn addresses the growing demand for personalised services and customised solutions in the Middle Eastern financial sector by combining predictive intelligence with advanced conversational AI capabilities. This combination allows banks to develop a hyper-personalised understanding of each customer's needs, behaviours, preferences, and intentions while maintaining data privacy and security.

Virender Jeet, CEO of Newgen Software, explained that LumYn is not just a personalised AI platform but is hyper-personalised with Gen AI capabilities. This means it can understand and adapt to customers' changing preferences, behaviours, and life stages in real-time. One of the platform's key features is Conversational AI, which allows business users to interact seamlessly with customer data using natural language. This innovation enables insight generation and helps businesses create effective growth strategies.

Customisable AI models and low-code capabilities

LumYn offers customisable AI models to tackle specific business challenges and foster growth. Its low-code capabilities facilitate quick iteration and refinement, allowing rapid adaptability to evolving business needs. The platform also strengthens customer relationships by creating behavioural segments based on spending habits and lifestyles, enabling targeted marketing campaigns that maximise customer lifetime value and improve overall engagement.

Faster insights and robust security

The platform utilises a comprehensive library of pre-built AI models for quicker insights and deployment. This acceleration enhances cross-selling opportunities and increases overall market responsiveness, helping businesses stay ahead of competitors. Built on robust technologies prioritising security and privacy, LumYn ensures complete data transparency with visible modelling processes, making it a reliable AI solution for banks.

Rajan Nagina, Head of AI at Newgen Software, expressed delight at introducing LumYn to their portfolio. He highlighted the platform's ability to derive actionable insights from customer behaviours and preferences as evidence of Newgen's expertise in banking and cutting-edge AI/ML technology. LumYn is expected to significantly deepen customer engagement and drive business growth while redefining how banks interact with their customers in an ever-changing market landscape.