UAE – Mubasher: Newgen Software, a global provider of low-code digital transformation platforms, has launched generative AI-powered hyper-personalisation platform LumYn in the Middle East.

LumYn is tailored for the banking sector and is set to enhance profitability and significantly improve customer experiences for banks in the region and globally, according to a press release.

The platform enables banks in the Middle East to grasp customer’s need, behaviour, preferences, and intent to boost engagement, while maintaining 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.”

Rajan Nagina, Head of AI, Newgen Software, stated: "LumYn’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."

LumYn platform offers key features such as conversational AI for seamless interaction with customer data, enabling insight generation and growth strategies.

It provides customisable AI models to tackle specific business challenges and has low-code capabilities for quick adaptation to changing needs.

The platform enhances customer relationships by creating behavioural segments for targeted marketing, improving customer lifetime value and engagement.

It also includes a library of pre-built AI models for faster insights and quicker deployment, enhancing cross-sell opportunities and market responsiveness.