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Alliances Technology
Relationships
YES FinTech: Redefining Innovation in Financial Technology
The financial services industry is at the cusp of a digital revolution and financial technology (FinTech)
start-ups are leading this change. FinTechs are typically quicker than banks to take advantage of advances
in digital technology. They are lean, agile, without legacy systems and very focused on their single
purpose solutions – they are hence able to develop banking products which are not only more user-
friendly and cost less to deliver but also optimized for digital channels.
India's traditionally cash-driven economy is responding well to this new opportunity, primarily triggered
by a surge in e-commerce and smartphone penetration. However, a visible trend in the Indian FinTech
ecosystem has been disruption within the payments sector. In the near future, the focus is likely to shift
towards unexplored sub-segments such as lending, trade finance, blockchain, amongst others.
YES BANK has identified A.R.T – Alliances and Relationships for Technology led Innovations - as the
guiding principle to be holistically involved in this innovation wave. Inherently, this entails partnerships
with specialist FinTechs – both large established companies and start-ups - and fosters Collaboration
instead of competition.
In order to redefine innovation in financial technology and advance A.R.T-led innovation @ YES BANK,
the Bank has established a FinTech focused Business Accelerator program - YES FinTech, a platform for
the bank and FinTech startups to co-create innovative solutions and partner in taking the solution to
retail and corporate customers.
The biggest and most sustainable trend in the FinTech space will be its potential to revolutionize financial
inclusion. I believe the next few years will be very exciting for banks, with an interesting interplay of
various technologies that will change the banking and payments landscape in our country.
Thank you.
Sincerely,
Foreword
Rana Kapoor
Managing Director & CEO
Chairman
Introduction
05
The IndiaFinTech
Story
GlobalEvolution of FinTech
Road Ahead for FinTech
in India
FinTech Innovation
Futureof Banking &Bank of the
Future
06
08
1317
18
CONTENT@
Introduction
05
The world is witnessing a major shift in
financial services. Technology has been
the driving force in proliferation of
banking services for the last 15 years.
With the rise of digitized economy,
FinTech has opened up direct linkages
amongst customers and between the
customer and service provider,
increasing accessibility and inclusion and
putting the customer in the driver's
seat.
While the first leg of technology
solutions focused on introducing digital
solutions for operational ease and
customer convenience; the advent of
technology and proliferation of mobile
infrastructure has made it possible for
banks and new-age FinTech companies
to focus on customer experience and
consequently re-engineer their internal
processes.
While operational ease and customer
convenience continue to be the
bedrock for bringing efficiencies in
business processes, increasingly banks &
financial institutions are realising the
benefit of redesigning fulf i lment
processes to fully leverage benefits of
new-age technology.
06
Global Evolution of FinTech
o Global data: USD 2.4 bn funding - 178 deals
North America: USD 900 mn funding - 96 deals o
o Europe: USD 200 mn funding - 38 deals
Asia: USD 1.2 bn funding - 35 dealso
(Source: KPMG, 2016)
INVESTMENT & DEAL FIGURES - Q3, 2016
The global FinTech market is quickly evolving with several FinTech hubs such as London, Singapore, New York, Hong Kong, and Silicon Valley emerging and developing within a short amount of time.
These hubs owe their leading positions to decades of evolution as global financial centres or technology hubs and have the right constituents viz. specialized talent, progressive regulatory bodies, investment capital, Government support and strong collaboration within the ecosystem.
The U.S. dominates the FinTech industry with major hubs such as Silicon Valley and New York. It has more than 25 unicorn FinTech start-ups with value worth USD 1 billion. Whereas, Singapore is a leading international financial centre with strong Government support for FinTech. It has also framed a cohesive regulatory structure specific to FinTech (eg.: Monetary Authority of Singapore established the Financial Technology & Innovation Group in 2015).
International entrepreneurs and banks have set up their local Asian units in Singapore, bringing in global expertise and experience. FinTech innovation is flourishing there primarily driven by the global talent attracted to live and base themselves there.
With nations such as the U.S., Singapore and the UK blooming as global FinTech hubs, India has only recently emerged as a key player. However, it shows a lot of promise as it provides the right mix of technical skills, Government support, regulatory policies and the business environment for startups to flourish. For example, UPI (Unified Payment Interface) in India is unlike anything available in the United States or the United Kingdom.
07
Comparing India to other FinTech hubs globally
(Source: Let’s Talk Payments)
INDIA
The India FinTech Story
0
3
6
9
12
15
0.0
0.5
1.0
1.5
2.0
2.5
USD8 billion
1.7X Growth
USD1.2 billion
USD2.4 billion
(Estimated)
2016 2020
2016 2020
USD13.6 billion
(Estimated)
The Indian FinTech Software and Services market is expected
to grow 1.7 times by 2020
The Indian FinTech Software Product Market is estimated
to grow 2 times by 2020
Source: NASSCOM, 2016
Source: KPMG, 2016
08
2X
0
10
20
30
40
50
60
70
80
USD33 billion
2016 2020
USD
millionusers
Growth innumber of smartphones
and consumers'willingness to transactonline has spawned a
large number of start-upstaking advantage of this
new opportunity.
Transaction value in the Indian FinTech sector is estimated to
grow at a CAGR of 22% for the next five years
Source: KPMG, 2016
225
09
73 billion(Estimated)
CAGR22%
10
Enablers for FinTech in India
Growing market
FinTech with emergence of innovative startups
Second biggest startup ecosystem in Asia Pacific
370 million internet users* Growing young population, eager to accept new products and technologies
Broad level of technical education. Cost efficient and easy-to hire tech workforce.
By 2022, digital banking will have more than 50% penetration in
##banking transaction
40% growth in investments in FinTech from USD 247 million in 2014 to more than USD
#1.5 billion in 2015
Mobile usage expected to increase to 64% in 2018 from current 53%*
Every 1% reduction in cash in the economy results in 0.4% jump
in the GDP
for
*Source: Let’s Talk Payments, 2016 #Source: Source: KPMG, 2016 ##Source: MXV, 2016
DemonetizationOver INR 14 lakh crore worth of old
currency demonetized,
encouraging digital payments
Government InitiativesStrong push by the
Government to move to a cashless economy
Digital India and Smart Cities
initiatives launched to promote digital infrastructure
development and attract foreign investments
Extension of Aadhar for pension, provident fund and
the Jan Dhan Yojana
Jan Dhan YojanaOver 200 million unbanked individuals included in the banking sector
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United Payments
BHIM
to access multiple bank accounts and merchant payments within a single
mobile app
(Bharat Interface for Money) is a Mobile App developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI)
Interface (UPI)
RBI launched UPI, a tool
Start-Up India initiative launched by the Government of India in January,2016 includes USD1.5 billion fund forstart-ups
Bharat Bill Payments System
The Government with the help of NPCI has launched BBPS to regulate and formalise the narrowing constraints of current bill payment ecosystem
AREAS
Interest areas for Indian FinTech companies
PAYMENTS ALTERNATIVELENDING
INVESTMENT
INSURANCE
RISKMANAGEMENT
Mobile Wallets, Money Transfer Apps, Point of Sale solutions, Payment Gateway for e-commerce, Merchants, Remittance & Forex Services
Direct Consumer Lending, Small Business (SME) Lending, Insta Credit and Consumer Loans on e-commerce, Loan Comparison & P2P Lending
Robo Advisory for public market
Aggregators, Policy comparators,
Software solution providers
investments, Online brokerage, Deal origination for PE/IB
Loan management platforms, fraud & risk management solutions, Loyalty Relation-ship Management, Regulatory compliance, Credit scoring
12
The Indian economy has been given a new lease of life that can be seen as a 'reset' – with huge positive implications for liquidity, inflation, fiscal and external deficit in the short term.
Over the next 2-3 years, improvement in India's position on transparency and corruption in the global league will further add to its investor appeal. With GST on anvil, India is now on the cusp of higher growth in the medium term – to
be steered by the organized sectors including MSMEs and the revival of the private sector capex cycle.
Following the successful demonetization exercise as well as the ongoing transition to digital payments and a less-cash economy, the FinTech space assumes significantly larger importance.
EMERGING TRENDS
Road Ahead for FinTech in India
13
Small merchants and Low Income Customers moving from cash to digital transactions
Post demonetization, small merchants are flocking to digital payment
methods in the wake of cash shortage. With the push from Government,
growth of digital transactions is imminent and 2017 will be an interesting
period which can give birth to new payment instruments and Indian financial
services may march into a world beyond PoS, IMPS and UPI, amongst other
transaction modes.
KEY TRENDS IN INDIAN BANKING AND FINTECH TO WATCH OUT FOR IN 2017
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Front end innovation to gain prominence with multi-lingual support and localization of services using AI
ChatBots, Robotics and Artificial Intelligence to enhance the experience of customers
2017 is going to be big for ChatBots and banking robots as many banks are
lining up their ChatBots for launch. These ChatBots will reduce efforts of
the customer and give a conversational touch to do banking on digital
channels. Some banks have also expressed interest in introducing physical
robots to aid the customer in bank branches. Artificial Intelligence is
driving this innovation and the intelligence of the robots gets refined with
more usage. This gives an ever improving experience to the customer. In
the times to come, we may find that customer service is largely automated
and available round the clock at the finger tips.
Sophisticated Aadhaar based fingerprint, biometric and other authentication technologies
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Predictive Analytics will result in a personalized experience for customers
With ever increasing data points and more demanding customer base,
customization and personalization will be key. Analytics framework with
robust algorithm and sophisticated predictions will be important elements
for designing the entire banking experience. These analytics are generally
iterative and with growing digital footprint of a customer, products and
services will be more relevant to the customers.
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3
2Faced with diverse groups of customers in India, there is a pertinent need
for localized services in native languages. This will particularly help in
improving the financial literacy of the unbanked and under-banked
customers. Augmented reality may come in handy to specific products to
service local needs of the consumer. This trend is expected to even excite
the local businesses which will be a key driver to make this efficient.
As financial inclusion deepens, the need for simpler but secure
authentication technologies becomes paramount. With multiple digital
products hitting the market and too many password based authentications,
biometric authentication could be the way forward.
Open APIs by more banks and non-bank entities for seamless and omnipresent customer experience
With India stack, the market has already signaled that open APIs is the
way to go for payments. YES BANK was one of the first banks to open up
its APIs for commercial consumption and we definitely understand the
power of the open architecture. In 2017, more industries and enterprises
who wish to give a seamless experience to their customers are expected
to follow the suit and open up their APIs on cloud for external entities to
consume. Instant apps can be another trend that could pick up in 2017
and these developments will provide new opportunities for FinTech
focusing on developing Seamless Customized Industry Solutions.
Banks and FinTech startups will try to innovate BlockChain technologies to increase efficiencies
Smart Cities, Internet of Things & Cybersecurity
Smart Cities are incomplete without smart payments. Citizens living in
such cities will have ubiquitous data connectivity and it is important that
IoT as a concept will become reality when it comes to payments, lending,
investing and any other form of financial transactions. IoT also provides
more data points and this would help financial institutions to learn more
about the customer and interact appropriately. This would also open a
window of data privacy and cyber threats. Hence it is very important that
investments are made both in innovation and cyber security.
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7
6
Crypto currencies such as Bitcoin are a long shot in India but the
BlockChain technology powering them is fast entering the Indian market
with the potential of increasing efficiencies and reducing transaction
failures. Banks have already started to enlist the key use cases with the
help of FinTech startups and have executed BlockChain transactions to
test their efficiency. The advent of BlockChain technologies is expected to
bring more efficiency and bring down turnaround time in key banking
functions.
Analytics of Things will transform credit scoring models to accurately underwrite the customer
Internet of Things is useless without analytics and this has given rise to the
term “Analytics of Things”. AoT helps to find a pattern and understand the
behavior of the customers. This learning can be extended to relate the
behavior and creditworthiness of the customer and will help in accurately
underwriting the customer. This will bring down the risk component of the
banks drastically and is expected to take off as many FinTech companies are
working in this space.
Increased competition in Frictionless Customer on-boarding and Credit Underwriting
With entry of new players as a result of payment and small finance banking
licenses from RBI, India can look forward to some innovative ways to reach
out to everyone including low income households and rural segments in
this hotly contested market space. With new e-KYC guidelines, on-
boarding new clients will be paperless and will intensify the competition in
the market moving the industry towards frictionless Banking, especially in
the areas of customer on-boarding and credit underwriting areas.
Regulatory body for FinTech
An appropriate body needs to be appointed to regulate the FinTech
industry. Additionally, there need to be guidelines and regulations set for
due diligence, data protection, cyber security and client protection.
Overall, India is confidently moving up the FinTech ladder and provides
opportunities for FinTech startups to enter the diversified market
The interaction of these key pillars will contribute greatly to the next leg of
progression in delivering financial services to consumers and organizations.
While there has been many a debate by industry experts on the future of
intermediation and whether banks will continue to remain relevant, what is
important is the relevance of organizations delivering financial services.
16
9
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The Future of Banking
The future of banking is most definitely predicated on the use of technology. While
technology will continue to evolve, banks will need to balance their investments
across the gamut of technology services available to ensure reasonable return
on their investments. The dynamics in the Indian context makes it important for both
startups and banks to foster sustainable business models in the FinTech space.
While solutions like API Banking, Cloud-based services and Artificial Intelligence form
the building blocks for tomorrow, these will be used in the peripheral systems rather
than the core today. A real shift in banking would require building out entire business
processes which will mean rethinking even the core banking systems as they
are today.
Bank of the Future
Technology is a strong driving force of the society at large. For individuals and
corporations alike, Banking is only a fraction of their everyday activity. The
technological foundations of the “Bank of the Future” are already in the works in the
global FinTech ecosystem today. The Bank of the future will have technology which
will allow banks to render a service layer on top of the goods and services requiring
financial transactions.
Future of Banking & Bank of the Future
17
Traditionally, banks/ financial institutions have owned end-to-end service delivery by
tightly integrating experience, processes and products. However, consumer-centric
FinTech firms are competing directly for customers by providing superior user
experiences, enabled by accessing application services and data across financial
services providers.
This change in paradigm coupled with the openness of incumbent organizations to
embrace the benefits offered by superior technology has led to a tipping point in
the rendering of financial services.
Globally banks are moving from their traditional conservative mindset, to align their
strategies and better collaborate with FinTech players in the payments space. Banks
are collaborating with FinTech through numerous ways such as venture capital
investments, incubator programmes, innovation labs, strategic partnerships and
accelerator programmes.
Currently, startups are yet to go in-depth and understand the segment and create
solutions that are usable, affordable and profitable. For instance, solutions such as
credit schemes focused on woman entrepreneurs, social financing and crowd
financing are areas that are yet to see any large-scale disruptions.
While there may be sufficient progress made along these above trends during this
year, it is difficult to expect banks or FinTech firms to dedicate their own resources to
research on these areas and implement solutions on their own.
This is where we believe A.R.T of banking (Alliances, Relationships and
Technology) plays an extremely important role to identify specialists in each area
and foster a strong partnership and work along all identified areas.
FinTech Innovation @
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Regulatory SandboxCatalyzing Disruptive Innovation
With over 12,000 FinTech startups attracting over USD 19 billion in investment globally, the financial services technology sector is witnessing a wave of 'new age innovators' who are redefining the contours of business operations. Not only are they bringing a paradigm shift by introducing new innovation oriented models, but are also creating economic wealth and have emerged as the new engines of growth.
Global FinTech software and services sector is expected to grow at 7.1 % p.a. reaching USD 45 billion by 2020. In India, the FinTech market is ~USD 8 billion and expected to grow 1.7x by 2020. To emerge as one of the leading financial innovation hub globally, India needs to build an conducive eco system by supporting disruptive innovation via appropriate regulatory framework.
Today financial services industry needs a cohesive framework to overcome barriers to innovation within the current regulations. This framework should also ensure that risks from testing cutting-edge new solutions are not transferred from enterprises to customers.
The introduction of a 'Regulatory Sandbox' at the global level is being hailed as a step in the right direction to drive innovation in the
FinTech landscape. Regulatory sandbox is a ‘ sa fe space’ in which bus inesses can test innovative products, services, business and operational models without immediately facing all the normal regulatory consequences.
In UK, the Financial Conduct Authority (FCA) under 'Project Innovate' has introduced the world's first sandbox for financial services regulators. This has been followed up by the launch of Australian Securities and Investment Commission's (ASIC) sandbox, and further proposals by Singapore's Monetary Authority (MAS) and Abu Dhabi's Financial Services Regulatory Authority (FSRA). Recently, US has introduced a Bill to develop an internal 'Financial Services Innovation Office' where companies can test new innovations. Hong Kong amongst others has also joined the race by introducing regulatory regime known as 'sandbox' for financial technology innovation in the Banking Sector.
In India, along the lines of Regulatory Sandbox there is an ardent need to create an enabling ecosystem to foster competition and innovation in financial services.
Firstly, it will catalyze innovation by introducing a testing environment for novel
*Article appeared in The Financial Express on Jan 16, 2017
solutions. Many early stage innovations are discarded and never tested due to regu latory apprehens ion . The new framework will help the firms to explore and overcome regulatory risks during the testing phases, resulting into more solutions coming into the market place. A case in point is today's emerging technologies like Blockchain or Distributed Ledger Technology (DLT) which promises massive disruption to back office systems and ledgers. It is estimated that Blockchain can potentially eliminate as much as USD 20 billion of infrastructural costs in the financial sector from 2022.
Secondly, it will enable the existing financial institutions and banks to experiment and deliver rapid innovation with downside protection. This can be achieved without necessarily diverting bandwidth and capital, and instead help the institutions to focus resources on their core businesses and innovate at the same time.
Thirdly, it would reinforce our Prime Minister's vision towards financial inclusion and lesscash India by fostering futuristic F i nTech S t a r tUps u s i n g i n gen ious technology. Recent FinTech initiatives like UPI, eWallets, USSD transfer, eKYC, P2P lending are changing the landscape for financial inclusion by leveraging technology. With over 233 million unbanked population still to be brought under the financial inclusion umbrella, a Regulatory Sandbox can help accentuate the efforts of private sector to complement the Government efforts like JAM trinity and DBT.
Fourthly, it will pave the way for easy financing of Financial Innovation. FinTech enterprises are mostly dependent on equity funding to kick-start innovative ideas at an early stage. Regulatory uncertainties and ambiguity often hinders the growth of these enterprises as they find it more difficult to raise funds. Further investors evaluate them at lower valuations in order to factor in the potential future regulatory risks that cannot be empirically assessed. As observed in life-sciences and other industries, valuations can be reduced by about 15% due to regulatory precariousness.
In addition to the setting up a regulatory sandbox, the private sector can play its role to come up with solutions that offer further flexibility. One such initiative could be virtual sandbox – that can be industry-wide collaborative cloud based solution, which can be used to run integration tests on public data sets and to invite customers to try their new services.
The next wave of growth and more importantly equitable growth would come from the emergence of avant-garde FinTech enterprises based on the principles of DICE (Des i gn Innovat ion Creat i v i t y and Entrepreneurship). The inception of Regulatory Sandbox can go a long way in ensuring that India's new-age FinTech ideas metamorphose into reality, with a potential to fuel not only national, but also global
staspirations of the 21 century.
Rana KapoorManaging Director & CEO, YES BANKChairman, YES Institute
09
TECHNOLOGY
@ INNOVATION
and
1921
YES BANK has partnered with some of the best FinTech firms to deliver unique, innovative Banking and financial solutions to customers.
The Bank’s engagements with FinTech
start-ups is focused on delivering
'disruptive innovation' through
partnerships and has been at the
forefront of 'partnering' with over 50
such innovative/ disruptive FinTech
startups in India, predominantly in the
Payments, Consumer & SME lending
space.
Additionally, the bank has outlined
problem statements/ gap areas across
the Business Units & Product verticals,
where disruptive products/ solutions are
b e i n g s o u g h t f r o m c r e a t i v e
entrepreneurs/ innovative startups from
across the globe.
YES BANK has been at the forefront of
innovation and adopting digital initiatives
within the Indian banking space and
recognizes the need for continued access
to Best-in-class technologies to provide
superior product and service offerings to
its clientele.
Towards this, YES BANK has identified
“A.R.T” – Alliances and Relationships
for Technology led Innovations as the
guiding principle to address innovation.
Inherently, this entails forging 'partnerships'
with specialist FinTechs – both large
established companies and start-ups,
and fosters collaboration instead of
competition.
YES FINTECH ACCELERATOR We have established a FinTech focused Business Accelerator program - YES FINTECH
powered by T-Hub (India's fastest-growing startup engine) and Anthill with Let's Talk
Payments (LTP) as Knowledge Partner
YES FinTech is a platform for the bank and FinTech startups to co-create innovative
solutions and partner in taking the solution to the bank's retail and corporate
customers. This is a unique program – with no upfront equity commitment sought from
startups, clear focus on building solutions relevant to use-cases identified by YES BANK
and providing FinTech startups access to YES BANK's 2 million+ customer base.
The intensive 15 week dual-destination program (based in Mumbai & Hyderabad) will
provide startups mentorship, business model guidance, customized scale up plan and
access to a global network of investors and VCs besides a plethora of benefits from our
partner organizations.
WHAT’S IN IT FOR STARTUPS ?
Dual modemulti locationprogram
Market Accessto 2 million +customers
Mentorship Global Outreach
Compliance &RegulatoryGuidance
Access toT-Hub StartupEcosystem
Showcase& Visibility
BAG CONTRACT WITHPOTENTIAL CLIENT
ZERO UPFRONTEQUITY
22
CO-CREATE INNOVATIVE SOLUTIONSWITH OUR 15 WEEK PROGRAMThe program is structured in four phases. Throughout the program startup can continue working
on their core business:
1 CO-CREATE
OPERATE
SCALE
INVEST & GROW
2
3
4
23
Payments LendingGovernance,
Risk and Compliance
Trade Finance
Forex and Treasury
Capital Markets
Customer Value Added
Services
Enterprise Software (Banking)
Big Data
Analytics/ Machine Learning
Blockchain
Marketplace
AI/BOTS
API based 'BaaS' soln
PaaS/SaaS
IOT
Robotics
Biometrics
Others
24
OUR CORE AREAS
TEC
HN
OLO
GIC
AL
SOLU
TIO
NS
25
Rana KapoorManaging Director &
CEO, YES BANK
Devie Mohan FinTech Market Expert
Alok MittalCo-Founder & CEO,
Indifi
Vikram Sud91 Springboard
Ajay Shrivastava Head Technology,
Oyo Rooms
Anish ReddyCo-Founder & CEO,
Capillary Technologies
Sauvik BanerjjeeGlobal CTA, SAP
Shailesh LakhaniMD, Sequoia Capital
Shradha SharmaFounder & CEOYourStory Media
T.N HariHead, HR Bigbasket
K. VaitheeswaranEntrepreneur & Pioneer
Abhishek GuptaCOO, TLabs
Anil ValluriHead of India &
SAARC Business, NetApp
Anand Bajaj Founder,
Paynearby
Bala DeshpandeSenior Managing Director, New Enterprise Associates
Sumer JunejaPartner,
Norwest Venture Partners
Rahul Chandra Co-founder and Managing
Director, Helion Venture Partners
Gautam MagoManaging Director,
Sequoia Capital India
OUR EXPERTS @
Powered by Knowledge Partner Media Partner
Partners
Other Partners
MUMBAI OFFICE: YES BANK Tower, Indiabulls Finance Centre, Elphinstone (W), Senapati Bapat Marg, Mumbai - 400013Write to us at [email protected]; [email protected]; [email protected]
NEW DELHI OFFICE: 9, Nyaya Marg, Chanakyapuri, New Delhi - 110021Write to us at [email protected]; [email protected]; [email protected]
HYDERABAD OFFICE: T- Hub IIIT Campus, Gachibowli, Hyderabad - 60002
or Visit us at www.yesfintech.com
CIO100 Award
2012
NASSCOM IT User Award in
Banking (Scheduled
Commercial Category), 2012
Commercial Banking Project of the Year
Innovation in Cash & Treasury Technology
The Banker Technology Awards, 2011
Innovation in the Service Sector, 2010
Innovative Practices in Customer Service
Channels, 2009
Quimpro Awards
Best Overall Mobile Lifeline Launch
Connected World Forum Awards
Dubai 2012
NASSCOM Social Innovation Honours
(ICT Led Social Innovation by a
Corporate)
2013 & 2012
Dataquest Emerging Leaders in Business
Technology
DQ Live Awards, 2012
Excellence in Domestic Payments, 2013
Innovation in Payments, 2012
Innovation in Business Intelligence, 2010
Most Innovative e-Payments Solution Award - Asia, 2008
Financial Insights Innovation Awards, Singapore
Best Co-Branded Program
Best Commercial Card Program
Best Prepaid Card Program
The MasterCard Innovation Awards,
2014
'Certificate of Excellence'
Payment Solutions for Domestic Remittance
Financial Inclusion & Payment Systems 2013
IPSFWinner for Best ATM Network in Mid Sized
Banks category
Special Award for Innovation on Mobile
Payments (IMPS)
National Payments Corporation of India,
2014
Innovation Award for ‘API Banking’ and ‘Bank in a Box’, 2016
Pioneering innovation-Incentivizing Customers by
Offering Discount Coupons on ATMs at the International Banking
Expo 2015
FINNOVITI Awards
Best Trade Finance Bank in India
India Domestic Trade Finance Bank of the Year,
2016, 2015
India Domestic Cash Management Bank of the
Year, 2015
Asian Banking & Finance Wholesale Banking Awards Singapore
Payments Winner (Global)
Transaction Banking Awards
London2016, 2014
Best Financial/Banking website
Digital bank of the year
Digital Payment Facilitator - Special Mention
Drivers of Digital Awards
2016
AWARDS & ACCOLADES
N O T E S
N O T E S
965 Branches Pan India 1,770+ ATMs 19,750+ YES BANKers| |
thRegistered Office: Nehru Centre, 9 Floor, Discovery of India,
Dr. A.B. Road, Worli, Mumbai - 400018, Indiawww.yesbank.in