- YES BANK is the first Indian bank to launch ‘Application Programming Interface’ (API) banking services, enabling businesses to bank directly from their systems
Mumbai, January 24, 2017: YES BANK, India’s fifth largest private sector Bank, has won the award for ‘API Banking’ innovation at the FinTec India Conference & Awards, held at the National Stock Exchange (NSE), in Mumbai. Structured to cover a spectrum of issues across the BFSI sector, the one-day FinTec India Conference & Awards was aimed at facilitating partnerships between technology solutions providers and BFSI companies.
YES BANK is the first bank in India to launch API banking solutions. Through this innovative solution, the Bank has enabled multichannel merchant payments, instant refund for Indian online marketplace, instant loan disbursement for customers with or without bank accounts, automation of foreign inward remittance and has provided safe and secure access to the Bank’s systems directly from the customer’s applications.
“At YES BANK, technology and innovation are critical mission pillars, coupled with our emphasis on knowledge banking. It is our constant endeavor to digitally transform the banking experience for businesses. The API Banking platform enables corporates to interact with the Bank directly from their ERP, providing reliable, real time and secured access to bank’s systems and processes,” says Anup Purohit, Chief Information Officer (CIO), YES BANK.
API allows clients to access the bank’s transaction processing services from their ERP (enterprise resource planning) environment.
Fintec India aims to expedite the objectives of the BFSI sector at large by facilitating an open platform for all stakeholders to explore, share and revisit banking and financial technology.
Anup Purohit, Senior President & Chief Information Officer, YES BANK (L), along with Rajendra Mhalsekar, President, Business and Digital Technology Solutions Group, YES BANK (R) receiving the Award for the BANK at the FinTec India Awards in NSE, Mumbai.
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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