HCLTech-Newgen Software presents GenAI solutions that will revolutionize the enterprise and banking sector

New Delhi (India), May 29: HCLTech and Newgen Software announced pioneering Generative Artificial Intelligence (GenAI) solutions designed to transform enterprise resource utilization and hyper-personalization in the banking industry.

HCLTech has integrated GenAI capabilities into its iMRO/4 maintenance, repair and overhaul (MRO) solution. This innovation aims to improve the performance and efficiency of complex, high-value assets in the transportation, technology, energy, aerospace and defense sectors.

The initial phase of this integration will include the implementation of the GenAI bot designed to streamline service instructions for users, significantly reducing the time required for complex asset maintenance processes in SAP S/4HANA.

Next, GenAI-enhanced iMRO/4 will enable comprehensive reporting of inspection and repair results in natural language, leveraging operational data within SAP S/4HANA.

“With GenAI improvements embedded in existing processes, HCLTech iMRO/4 will go even further to help our customers in resource-intensive industries achieve greater efficiency, improve resource utilization and reduce costs,” said Sadagopan Singam, executive vice president of digital business at HCLTech .

HCLTech’s iMRO/4 offers a comprehensive set of advanced, integrated MRO capabilities that streamline processes across the entire maintenance lifecycle, including engineering, operations, planning, supply chain, customer engagement and support.

As a global SAP EAM partner and SAP co-development partner for complex MRO operations, HCLTech leverages technologies such as connected assets, geospatial databases, predictive analytics, machine learning, mobility and artificial intelligence to optimize business processes.

Meanwhile, Newgen Software has launched LumYn, the world’s first GenAI-powered hyper-personalization platform tailored specifically for the banking sector.

This platform aims to increase profitability and improve the customer experience of banks around the world by offering hyper-personalized services and solutions.

LumYn combines predictive intelligence with advanced conversational AI capabilities, enabling banks to deeply understand each customer’s needs, behaviors, preferences and intentions.

This allows for deeper customer engagement while ensuring data privacy and security.

LumYn’s key features include conversational AI that facilitates natural language interaction with customer data, helping to seamlessly generate insights and develop growth strategies.

Rapid development through adaptable AI models addresses unique business challenges, promoting growth through rapid iteration and refinement.

The platform maximizes customer lifetime value by creating behavioral segments based on spending habits and lifestyle, enabling targeted marketing campaigns.

Faster time to market is achieved with an extensive library of pre-built AI models that deliver faster insights and faster implementation, increasing cross-selling opportunities. Additionally, LumYn ensures reliable and secure AI through data transparency and robust security technologies.

“LumYn is not just a personalized AI platform; this hyper-personalized one, combined with generation AI capabilities. Meaning

that LumYn goes beyond traditional personalization by understanding and adapting to changing customer preferences, behaviors and life stages in real time,” commented Virender Jeet, CEO of Newgen Software.

Rajan Nagina, Director of Artificial Intelligence at Newgen Software, added: “We are delighted to add LumYn to our portfolio. This platform’s ability to draw actionable insights from customer behavior 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.”

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