Yes Bank has partnered with tech major Microsoft to introduce a mobile app with a view to provide customers with a personalised banking experience. The bank will leverage Microsoft’s Azure platform to create the app which will offer customers with a host of services such as online payments, shopping, rewards, offers, as well as customised dashboards, in addition to traditional banking functions.
“Using a cloud-native approach, the app will run on Microsoft's enterprise-grade cloud platform, and will support Yes Bank in scaling up various services by bringing merchants and ecosystem partners on to a common platform. This will enable the Bank to cater to diverse financial needs of customers across loans, payments, deposits, investments, cards and more,” the report said.
Prashant Kumar, managing director and chief executive officer at Yes Bank, said that with this partnership the bank is looking forward to co-creating a proposition that will offer customers with the benefit of transacting, as well as undertaking a host of other activities on a common platform.
Commenting on the collaboration, Anant Maheshwari, President, Microsoft India added that Microsoft Azure enables Yes Bank with secure and resilient architecture that helps them build new experiences for their customers.”
Yes Bank has also announced that it has partnered with banking-as-a-service (BaaS) start-up, Falcon, to tap into the rapidly growing embedded finance market. BaaS model aims to help in rationalising technology-related costs and significantly reduces time-to-market.
Falcon offers a future-proof stack to build cards, payments, accounts, and lending products at to financial institutions and tech companies. The partnership with Falcon would enable it to provide customers with tailor-made financial solutions, Yes Bank stated in a release today.
Anita Pai, Chief Operating Officer, Yes Bank said, on the Falcon partnership that it will help them to create innovative propositions within shorter time periods. “Going forward, we foresee an exponential demand for embedding financial products in newer ways, and with this collaboration, we aim to deliver that experience to our customers,” said Pai.