YES BANK with Microsoft AI brings a new wave of digital banking

YES BANK is charting a new wave by embracing tech intensity. With a head start on cloud and AI, YES BANK is reimagining the banking experience for its customers and transforming its operations to set itself apart from competition. Anup Purohit, Chief Information Officer, YES BANK and Ritesh Pai, Chief Digital Officer, YES BANK, talk about YES BANK’s journey of becoming a technology intense company by building its own unique tech solutions.

Elucidating the role of technology in democratizing banking, YES BANK’s Anup and Ritesh feel that the need of the hour is to help the underserved populace experience mainstream banking with technology. YES BANK is harnessing the power of AI to deliver new customer experiences with solutions like YES ROBOT, and is setting new standards for the Indian banking ecosystem by offering more than 25 banking services, including the ability to book fixed deposits and transfer money on social media platforms.

Ritesh Pai, Chief Digital Officer, YES BANK, says, “New-age customers compare banking apps with other tech-centered, non-banking apps and demand the same convenience. It all boils down to coming up with more customer-centric solutions, rather than product-centric solutions with AI and cloud.”

“The cloud brings a lot of agility and flexibility in terms of quick turnaround, over otherwise time-consuming processes. I’ve always believed that the cloud is more secure than on-premise data centers,” adds Anup Purohit, Chief Information Officer, YES BANK.

YES BANK has introduced several industry-first features, such as second factor authentication, personal finance management tool and banking on feature phones. With a customer base of 2.8 million, YES BANK believes that mass customization is the key to unlocking significant opportunities in future and can be tapped only through technologies like AI and Blockchain.