In its eighth year of hosting the awards, Global Finance announced its selections for The Innovators 2020 honoring entities that regularly identify new paths and design new tools in finance.
YES FINTECH was launched in 2017 to support startups in co-creating innovative solutions to enhance customer experience. The innovations focused on several areas which include customer experience enhancement, process automation, smart decision-making, big data & analytics, cybersecurity, trade finance platforms and alternate credit decision-making. It also provided access to the Bank’s APIs (application program interface), opportunities to expand to global markets, mentorship and scale up support.
Building on the success, in late 2019, the program was expanded to a multi-sector innovation platform – YES SCALE. YES SCALE works with startups across key sectors, supporting them in co-creating solutions with banking APIs and joint go-to-market. Under the YES SCALE platform, the Bank also launched ‘YES SCALE Marketplace’, an industry first online marketplace of innovative solutions, co-created with startup partners across sectors. This platform addresses challenges faced by SME businesses in identifying and adopting affordable digital solution through a ‘one-stop-shop’ experience, enabling SME businesses to not only view and discover multiple solutions but also explore them in detail through demos, tutorials and integrate banking seamlessly on their platform. More than 100 SMEs currently avail of banking integrated solutions on the platform.
This platform builds on the Bank’s strategy of providing comprehensive technology solutions with integrated banking, thereby addressing the business needs of both Corporate and SME clients, enabling deepening of business connect in these segments.
YES SCALE also eases the process for startups to jointly go-to-market with YES BANK, enabling them to explore ‘live’ use-cases, register their solution and further assist startups in completing their solutions with banking integrations (API Sandbox) to cater to the Bank’s corporate and MSME clients.
About YES BANK
YES 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.