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YES BANK’s Big Data Analytics Use Cases Receive Top Global Recognition at Gartner Excellence Awards

  • Data Sciences behind YES BANK‘s New Card Segment Expansion

  • YES BANK amongst global finalists in “Build Advanced Analytics and Data Science Capabilities: Lessons from the Gartner Excellence Awards

Mumbai, December 20, 2017: YES BANK, India’s fifth largest private sector bank has been recognized internationally for successfully deploying Data Analytics for enhancing business impact. YES BANK’s case study was published in Gartner’s report, ‘Gartner Build Advanced Analytics and Data Science Capabilities: Lessons from the Gartner Excellence Awards, Kurt Schlegel, 28th November 2017’. The cross-industry report focusses on how businesses are integrating data science in their core business model with an aim to showcase the need for Data and analytics leaders to create advanced analytics and data science teams that directly support operational activities.

YES BANK was among the three finalists shortlisted for the award and chosen for Gartner’s case study.

Commenting on the development, Neeraj Dhawan, Group President & National Head Credit Risk Management Retail & Business Banking, YES BANK, said “Over the past few years, YES BANK has made significant investments in building a strong data & analytics architecture, with comprehensive business use-cases. The case evaluations focused on introducing futuristic initiatives for real-time business impact through data science. This global recognition encourages us in the Bank’s endeavor to be future ready, and in institutionalizing organization wide culture of promoting data-driven decisioning and client servicing.”

Over the last few years, YES BANK has expanded its retail banking franchise across all products and has set-up a central data sciences team to drive its decision-making culture. The team uses advanced analytics and data science techniques to gain insights into customer behavior throughout their life cycle — from acquisition, onboarding, servicing, cross-sell and portfolio management, to retention and delinquency management. The team acts as a catalyst to drive various marketing campaigns, product decision making, policy framework formation, credit scoring and visualization.

YES BANK’s case studies featured, focus on four recent success stories from the advanced analytics and data sciences program that directly impacted YES BANK's revenues and bottom line.

Among the case studies mentioned was YES BANK’s Recency, frequency and monetary (RFM) analysis for debit card usage for truly personalizing customer experience through nano targeted merchant offers. As a result, average spend per customer jumped by 29%, while spend for the targeted customer base increased by 44%, which contributed 27% growth to overall portfolio spend. Notably, YES BANK’s data science team’s efforts towards building a predictive model using different types of customer transactional and behavioral data to reduce value attrition in Savings Value (customers don't close an account but the balance erodes toward zero) resulted in 23% net increase in value.

YES BANK’s algorithm-based instant credit approval service on SMS : YES Insta, a first-of-its kind innovation in the BFSI industry has also been featured in the case studies published by Gartner. The algorithm which has been statistically derived by YES BANK’s data scientists has not only improved sales productivity but also increased efficiencies for channel partners and most importantly operational gains for
YES BANK.

The other case studies mentioned focused on YES BANK’s efforts in improving MSME customer churn rate through predictive modelling and a savings value attrition predictive model for customer engagement which eventually resulted in a 23% increase in overall value.

Gartner, Inc. (NYSE: IT) is the world’s leading research and advisory company. Gartner helps business leaders across all major functions in every industry and enterprise size with the objective insights they need to make the right decisions.

Gartner’s comprehensive suite of services delivers strategic advice and proven best practices to help clients succeed in their mission-critical priorities. Gartner is headquartered in Stamford, Connecticut, USA, and has more than 13,000 associates serving clients in 11,000 enterprises in 100 countries.

Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About YES BANK

YES BANK, India’s fourth 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”.

Ananya Chand
YES BANK
Ph.: Mob: +91 8374971018
Email: ananya.chand@yesbank.in

Adfactors
Jyothi Goswami
Ph.: Mob: +91 9987036388
Email: jyothi@adfactorspr.com

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