Welcome to CXQuest, your gateway to exploring customer-centric innovation and digital transformation. Today, we are delighted to host Mr. Kaushal Verma, Vice President at Newgen Software, a leading provider of AI-first unified digital transformation platforms for Business Process Management (BPM), Enterprise Content Management (ECM), and Customer Communication Management (CCM). With over two decades of experience in driving digital transformation and reimagining customer journeys, Mr. Verma has been at the forefront of leveraging cutting-edge technologies to deliver superior customer experiences. Let’s dive into his insights and expertise to understand how Newgen is shaping the future of CX in the BFSI sector and beyond.
Newgen Software stands as a pioneer in digital transformation, leveraging over three decades of expertise to deliver innovative solutions that empower organizations to enhance agility, streamline processes, and drive superior customer satisfaction. With a presence in over 74 countries and a robust portfolio of global customers, Newgen’s impact spans industries such as banking, insurance, healthcare, and government.
Leading this transformation journey for BFSI sector is Kaushal Verma. With a proven track record in product innovation, consulting, and AI-powered automation, Mr. Verma combines technical acumen with strategic thinking to help organizations achieve operational excellence and customer-centricity.
Kaushal Verma: Journey with Newgen Software
Q1. Can you share a bit about your journey with Newgen Software and how your vision aligns with the company’s mission of enabling digital transformation?
KV: I joined Newgen 20 years ago when the organization was full of ambition and a bold vision for the future. Newgen was an early player in the field of digital transformation, starting with the goal of “One World, One Workplace.” Today, we serve multiple industries, including banking, insurance, healthcare, and government, driven by our collective goal to empower businesses globally through digital transformation.
Newgen’s offerings include a digital lending platform, trade finance solutions, and a payment hub, all built on our core philosophy of simplifying complex business processes. We achieve this by integrating process automation, content services, customer engagement, and intelligence capabilities in our AI-first unified digital transformation platform.
Over the years, Newgen has helped several leading financial institutions, Fortune 500 companies, and various industry leaders navigate the evolving technology landscape with our industry-recognized solutions.
I am particularly excited about the impactful areas where Newgen is making a difference. We are assisting banks in automating complex workflows and reducing process inefficiencies through our AI-first products. Additionally, we are focused on creating seamless customer journeys by orchestrating personalized omnichannel experiences across the BFSI sector. We enable organizations to rapidly build, deploy, and scale enterprise applications with ease by promoting low-code microservices adoption, helping businesses stay agile, scalable, and competitive.
Newgen Recognized by Gartner and Forrester
Q2. Newgen has been recognized by analysts like Gartner and Forrester. What sets Newgen apart in the digital transformation space, particularly in terms of CX?
KV: In the Forrester 2025 report, Newgen has been recognized as a “Leader” among content platform providers. Our uniqueness lies in our ability to seamlessly integrate process automation, content management, and customer communication into a unified digital transformation platform.
Today’s customers expect highly personalized, intuitive experiences across all digital touchpoints. Our AI-first solutions empower businesses to anticipate customer needs, enhance fraud prevention, drive compliance with minimal disruption, and deliver personalized services at scale.
Newgen also specializes in making every interaction smooth and intelligent through consistent and seamless experiences across all touchpoints, including web, mobile, and traditional banking platforms.
Additionally, our digital transformation platform’s low-code agility allows businesses to quickly adapt and deploy customer experience (CX) solutions, reducing time-to-market while maintaining operational flexibility. The platform’s ability to scale with enterprises and support high-volume transactions, compliance-driven processes, and multi-region operations makes Newgen a trusted partner in delivering superior customer experiences across BFSI, insurance, healthcare, and beyond.
Kaushal Verma on AI and Automation
Q3. How do you see AI and automation reshaping customer experiences in the BFSI sector?
KV: The impact of AI and automation in banking has been nothing short of revolutionary. What is the most fascinating is how it is fundamentally changing the relationship between banks and their customers. We’re seeing traditional processes that used to take days being completed in minutes, and that’s just the beginning. AI and automation are supporting financial institutions in delivering faster and more personalized services while optimizing operational efficiency.
Take credit underwriting, for instance. AI is helping banks in reducing their processing times by 50% to enable faster loan approvals. By analyzing alternative data sources alongside traditional metrics, AI is helping banks in making accurate lending decisions and extending credit to segments they couldn’t serve before.
Through automated document verification AI enables financial institutions to enhance compliance and reduces errors to significantly improve turnaround times. AI-driven fraud detection enhances fraud detection accuracy by over 90%, by continuously monitoring transactions, identifying anomalies in real-time and preventing potential risks before they escalate.
Beyond operational improvements, AI is also enabling hyper-personalized customer interactions. By analyzing customer behavior and preferences, financial institutions can proactively offer tailored products and services.
As AI capabilities continue to evolve, the BFSI sector will witness even greater efficiency, accuracy, and customer satisfaction.
Trends in Customer Journey
Q4. What are the key trends in customer journey reimagination that BFSI organizations should prioritize to stay competitive?
KV: I’ve observed a fundamental shift in how banks tackle their customer journeys in the recent years.
Hyper-personalization has become critical. Over 60% of customers now expect their banking experience to be tailored to their specific needs. Over 44% of firms are leveraging AI for enhanced engagement. Customers want their entire banking relationship to feel personalized, from communication preferences to service delivery.
The demand for seamless omnichannel experiences has also evolved. We’re moving beyond the basic idea of offering services across different channels. Today, it’s about ensuring that a customer can start a transaction on their mobile phone, continue it on their laptop, and perhaps finish it at a branch – all without any friction or need to repeat information.
Real-time decision making has become non-negotiable. The modern customer expects instant responses, whether it’s for a loan application or a service request. We’re helping banks leverage AI to make these quick decisions while maintaining risk controls. The future of banking technology lies in making these complex processes appear simple to the end user.
Customer support is also being reshaped by the rise of intelligent automation and AI-powered agents is reshaping customer support. The AI-powered BFSI market is projected to reach $1.68 billion by 2025, reflecting the sector’s rapid transformation. The focus is on offering proactive, intelligent support that anticipates customer needs and addresses them before they become an issue.
Furthermore, with digital banking on the rise, a mobile-first approach is essential for accessibility and convenience.
Kaushal Verma on Low-code Platforms
Q5. With the rise of low-code platforms like LCAP, how is Newgen helping organizations enhance agility and efficiency in delivering personalized customer experiences?
KV: Newgen’s low-code application platform is transforming how institutions approach digital transformation. The platform is designed to enable BFSI organizations to develop and deploy customer-centric applications with unprecedented speed and efficiency.
The platform’s strength lies in its ability to enable truly personalized customer interactions across all channels, while intelligently automating document management and communication. Its embedded AI capabilities integrate advanced predictive analytics for better risk management, while continuously monitoring customer behavior in real-time for smarter engagement. The dynamic workflow automation adapts intelligently to changing business requirements to ensure that institutions stay agile.
The drag-and-drop workflows of Newgen’s platform are reducing traditional development timelines by 50-70%, while seamlessly integrating with existing core banking systems and third-party applications. By simplifying the development process and embedding advanced technologies, we’re helping organizations transform their approach to customer experience – making it more responsive, personalized, and efficient for them.
Kaushal Verma on Content Analytics and Hyper-personalization
Q6. Content analytics and hyper-personalization are gaining traction. How does Newgen leverage these technologies to create meaningful customer interactions?
KV: Content analytics and hyper-personalization represent a significant leap in how financial institutions understand and engage with their customers. Newgen’s approach goes beyond surface-level data analysis, diving deep into both structured and unstructured information to extract meaningful insights.
Advanced natural language processing and intelligent data processing technologies allow Newgen’s platform to transform raw data into actionable intelligence. We help organizations decode complex customer sentiments, predict behavioral patterns, and create truly personalized interaction strategies.
Through advanced technologies like Natural Language Processing (NLP) and Optical Character Recognition (OCR), Newgen’s platform extracts critical insights from emails, documents, and customer interactions. This enables financial institutions to refine their engagement strategies and tailor services to individual preferences.
Additionally, Newgen’s communication automation suite, OmniOMS, delivers real-time, personalized outreach via email, chatbots, and other digital channels. By leveraging AI-powered content analytics, Newgen helps businesses decode customer sentiment, predict behavior, and continuously improve engagement strategies.
Adaption to Evolving Customer and Industry Needs
Q7. How does Newgen ensure its solutions remain adaptable to evolving customer and industry needs?
KV: Newgen’s approach to innovation is deeply rooted in understanding and anticipating industry evolution. The foundation of Newgen’s adaptability lies in the organization’s next-generation product development strategy, where its low-code process automation platform has earned recognition from leading analysts like Gartner and Forrester for its scalability, API-first architecture and microservices support.
We’re particularly focused on advancing our AI capabilities through our specialized suite of intelligent solutions. Our latest innovations include Marvin, our GenAI-enabled productivity platform, Lumyn for conversion intelligence, and Harper for growth intelligence. These solutions reflect our commitment to staying ahead of industry needs.
What truly sets us apart is our deep domain expertise. Having successfully executed over 150 banking transformation projects, we’ve developed a nuanced understanding of evolving customer needs. This experience, combined with continuous feedback and consultation with our clients, ensures our solutions remain agile, relevant, and future-ready.
Kaushal Verma on AI-powered Automation and Risk Management
Q8. How do you see AI-powered automation and risk management evolving in the BFSI industry over the next five years?
KV: The future of AI-powered automation is set to revolutionize risk management and operational efficiency in the BFSI industry. We’re already seeing significant operational cost reductions through intelligent automation of underwriting, fraud detection, and compliance processes. This trend will accelerate as AI systems become more sophisticated.
Risk assessment is evolving toward intelligent decision engines that adapt continuously to market changes. These systems will predict and respond to emerging risks in real-time, enabling more proactive risk mitigation strategies.
The next wave of innovation will center around hyper-personalized AI agents that combine advanced customer analytics with advanced fraud prevention and predictive insights. We’re moving toward a future where intelligent automation will enhance decision-making across loan approvals, KYC verification, and financial forecasting.
This evolution is headed towards creating a more resilient, efficient, and trustworthy financial ecosystem. The institutions have embrace these changes while maintaining a balance between automation and human oversight. That will position them for success in this new era of banking.
Thank you, Mr. Kaushal Verma, for sharing your valuable insights and expertise with us today. Your perspective on digital transformation and its impact on customer experience is both enlightening and inspiring. Newgen’s commitment to innovation and customer-centricity truly sets it apart as a leader in the industry.
We wish you and Newgen Software continued success in driving transformation and shaping the future of digital-first experiences. Stay tuned to CXQuest for more conversations with industry leaders driving exceptional CX across the globe!
