Delhi, April 12, 2017: YES BANK, India’s fifth-largest private sector bank, has been recognized for Best Innovation in Corporate Banking for its unique innovation - SIMsePAY at the MoneyTech Awards 2017. MoneyTech Awards is a platform that recognises and rewards the brilliant work that companies and leaders are doing in the fintech domain around the country.
MoneyTech assessed YES BANK on parameters like innovation, user experience, ease of implementation & scalability, the solution's ability to interface with other systems and growth of the business, by a jury comprising of experienced industry professionals.
SIMsePAY is an innovative payment enabling wallet service offered by YES BANK. It enables secure mobile payments without the internet and allows customers to make payments through any mobile phone, across any telecom network, with the help of a wafer-thin sticker that may be pasted on to any type of SIM card. Before the launch of SIMsePAY, mobile banking was only available on smart phones with internet or data connectivity, while the majority of rural India remained deprived of the ‘on-the-go’ mobile banking.
Ritesh Pai, Senior President and Country Head, Digital Banking, YES BANK, said, “This award reaffirms YES BANK’s mission of being innovative and breaking technological barriers to provide superior customer experience. Through SIMsePAY, we are reaching out to the hitherto untapped, rural masses. We will continue to focus on leveraging state-of-the art technology and introduce innovative practices towards YES BANK’s vision of building the ‘Finest Quality Bank of the World in India’ by 2020.”
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
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 8 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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YES BANK Limited