Yes Bank, on December 23, announced a collaboration with Salesforce to build a next-generation technology platform to power the retail lending business, in line with the bank’s strategy to further scale up its retail assets portfolio. Yes Bank is the first bank in India to move to Salesforce for Loan origination and processing.
The collaboration aims to engage customers with a unified experience and drive aggressive retail led growth for the bank.
Software is a global leader in Customer Relationship Management.
As per the press release, the deployment of the Salesforce Loan Origination System for retail banking will enable the Bank to provide personalized solutions and connected banking experiences for consumers across segments.
It will bolster the Bank’s capacity to process higher volumes of loan applications through enhanced automations and progressive API integrations while also eliminating manual processes in the loan cycle – thereby reducing the turnaround time (TAT) for improved customer satisfaction.
Leveraging on the digital capabilities, the Bank will be able to speedily launch a new range of innovative products and services to support the evolving needs of customers.
The platform will also enhance collaborative innovation within the Bank, providing the Bank’s employees from relationship managers to loan disbursement officers and risk managers, with a unified view of their customer’s portfolio and improved agility in offering customized digital solutions.
Arundhati Bhattacharya, CEO and Chairperson, Salesforce India and Prashant Kumar, MD & CEO, YES BANK announced the collaboration at YES BANK's Corporate Headquarters in Mumbai.
"YES BANK has the vision to deliver renewed and unified experiences to customers by building long-lasting relationships, and Salesforce is excited and proud to be collaborating with them on their digital transformation journey to power the retail lending business for India. The new normal has reinforced the importance of the customer and businesses need to focus on long-term relationships ensuring customer wellness,” Arundhati Bhattacharya, CEO and Chairperson, Salesforce India, said.
Speaking on the collaboration, Yes Bank CEO Prashant Kumar said, “As an innovative, forward-looking customer-centric Bank, we are cognizant about the importance of investing in technology to drive operational efficiency, optimize costs and accelerate business growth. We look forward to driving further innovations through the Salesforce ecosystem that will benefit our customers, thereby accelerating the Bank’s growth journey towards doubling retail and SME business by December, 2023. The collaboration reflects our commitment to further scale-up our digital and technology capabilities to deliver a personalized and secure customer experience. By bringing together our potential synergies, we now have a clear path ahead to create innovative new experiences for customers, partners, and employees.”