Wins among 200+ global participants invited by The Banker, for successfully introducing and implementing innovative digital payments solutions
Mumbai, August 9, 2018: YES BANK, India’s fourth largest private sector bank was adjudged the global winner in Payments at the ‘Technology Project Awards-2018’, a prestigious award recognizing innovation in financial technology instituted by The Banker, a London-based leading global financial publication promoted by The Financial Times (FT).
Commenting on the development, Mr. Rana Kapoor, MD & CEO, YES BANK said, "YES BANK has championed frugal innovations on India Stack and emerged as a dominant digital payments bank in India, taking significant steps to enhance customer service. Additionally, the Bank's comprehensive API banking services are powering the transformation of our Corporate Clients' Financial supply chain.
As a part of our FutureNow Strategy, YES BANK is leveraging AI and Big Data Analytics, as well as Robotic Process Automation in the mid & backend to provide superior Customer service and Improve efficiencies. YES BANK is also the 1st Indian bank to commercially deploy Blockchain for Supply Chain Finance.
At YES BANK, we strongly believe that Banks are now technology companies in the business of banking."
The award selection process included evaluation of 200+ technology projects from around the world on the basis of demonstrating innovation, utility and transformation, by an esteemed panel of judges.
YES BANK, since inception, has introduced and innovated on novel technologies like Blockchain and API Banking, allowing not just customers to experience better payments solutions but also developing the Fintech ecosystem in India by giving access to APIs to fintech startups to build their solutions on.
The Bank has also developed state-of-the A.R.T technology to further the UPI ecosystem in India and has established a leadership position in the industry for merchant payments with a 70%+ market-share. YES BANK was also the first bank in India to introduce Blockchain for Digital Supply Chain Finance and launch YES SCALE, a startup accelerator to build technology and fintech solutions for Smart Cities in India.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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