Transforming banking with Gen AI: More precise loan and investment offers for customers on the way

Newgen Software, based in New Delhi, offers Gen AI solutions to banks, including LumYn, a hyper-personalised generative AI model. LumYn tailors banking services to individual preferences, considering spending habits and behaviours rather than age or account balance. \r

CEO Virender Jeet emphasizes the uniqueness of recommendations, which vary based on each customer's profile. Advanced conversational AI capabilities ensure deep customer engagement while maintaining data privacy. LumYn utilizes banking data, including transactional and account history, to understand customer needs. \r

Newgen asserts that its recommendations are unbiased, as bias is more prominent in credit underwriting models. Jeet highlights the company's extensive development efforts over multiple years, culminating in the recent addition of generative AI capabilities to its platform.