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YES BANK Partners Blue Dart and Snapdeal to Revolutionise Cash on Delivery Model

Strategic API Intervention to enable faster transfer of Cash-on-Delivery proceeds between Bank/Logistics provider and E-commerce marketplace

Mumbai, October 20, 2015: YES BANK, India’s 5th largest private sector Bank has partnered with BLUE DART, South Asia’s premier express air and integrated transportation, distribution and logistics company and Snapdeal, India’s largest online market place to enhance the “Cash on Delivery” (COD) model by making strategic interventions in the Financial Supply Chains of these companies. This partnership is under YES TRANSACT – YES BANK’s award winning transaction banking product suite and reinforces the Bank’s philosophy of providing insightful Knowledge Banking solutions to the sunrise sectors of India’s economy.

This unique integration through a proprietary system will enable Snapdeal to receive COD proceeds from BLUE DART in a faster, streamlined fashion and also help with faster payments to suppliers. The system is expected to greatly enhance the Financial Supply Chain of the company and eventually allow Snapdeal to pass on the benefits to the customers. The Cash On Delivery model accounts for close to 60% of all e-commerce transactions and the COD transaction value is expected to reach about INR 54,000 Crore size by 2016. Given that Internet Banking penetration is only about 5%, YES BANK realizes the significance of enabling an efficient COD model to enable e-commerce reach the consumers Tier-2 and Tier-3 cities in India and provide impetus to the e-commerce marketplace and its sellers. YES BANK is also working on enabling electronic and digital payment solutions for consumers.

The process includes both the involvement of YES BANK as a collection banker to BLUE DART for its cash handling and also a technical integration through which data is processed electronically and payments are released to the market place basis the same. In the first phase YES BANK will make this same day processing facility available at 23 BLUE DART locations across Metros and Tier-I cities. This will expanded Pan-India covering Tier-2 and Tier-3 towns and cities across all major States in India within the next 6 months and account for close to 50% of BLUE DART’s COD handling.

Asit Oberoi, Group President & Chief Operating Officer, YES BANK said, “We are proud to partner with BLUE DART and Snapdeal who are leading the ongoing revolution in India’s e-commerce space for this pioneering solution. The Cash on Delivery model is very important in the Indian e-commerce industry, and we are certain that our YES TRANSACT solution will bring in enhanced efficiencies offering significant value to the companies in managing their Supply Chain.”

Yogesh Dhingra, Chief Financial Officer and Chief Operating Officer, BLUE DART Express Ltd. said, “BLUE DART has been a leader in the logistics industry in India and has innovated several best practices then replicated by others in this space. We have been committed to delivering the best to our customers and this partnership with YES BANK and Snapdeal will only re-affirm our commitment to ensuring customer delight, convenience and reliability in every transaction”.

Amit Choudhary, Senior Vice President Corporate Finance, Snapdeal said, “The dominant mode of payment for a large portion of online customers continues to be cash on delivery, this in effect adds time to the payment cycles for sellers. With this partnership we are confident that we can improve payments cycles and help our sellers become more successful”.

YES BANK had earlier partnered with Snapdeal to implement industry’s first API Banking services enabling Snapdeal to process Customer Refunds within an hour’s time.

About YES BANK

YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Large Bank of the World in India” by 2020.

About BLUE DART:

BLUE DART Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to over 34,720 locations in India. As part of the Deutsche Post DHL Group, BLUE DART accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions and customs clearance.

The BLUE DART team drives market leadership through its motivated people force, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. BLUE DART's market leadership is further validated by numerous awards and recognitions from customers for exhibiting reliability, superior brand experience and sustainability. Some of these include Superbrand and ‘Reader's Digest Most Trusted Brand Award’, one of ‘India's Best Companies to Work For’ by The Great Place to Work® Institute five times in a row, ‘Outstanding Contribution to the Cause of Education’ - Global HR Excellence Awards 2011-2012, BSE Best CSR Practice Award and 22nd CFBP Jamnalal Bajaj Fair Business Practices Award - 2010 in the category of Service Enterprises (Medium) to name a few.

BLUE DART accepts its social responsibility by supporting DPDHL Group’s initiatives on climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach).

For further information, please contact:

YES BANK
Jitesh Patel
Ph.: +91 22 3347 9753, +91 9820813570
Email: jitesh.patel@yesbank.in

Adfactors PR
Jyothi Goswami
Ph.: 9702488388
Email: jyothi@adfactorspr.com

BLUE DART
Ketan Kulkarni
Ph.: +91 22 28396444
Email: ketank@bluedart.com

Image Inc.
Sanjeev Anand
Ph.: +91 9810052118
Email: sanjeev@image-publicrelations.com

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