YES FINTECH has been
chosen among the world’s best fintech labs for innovative solutions to enhance
customer experience, second time in row
YES BANK’s Innovation and Business Accelerator
Program for Fintech Start-ups, YES FINTECH, has been selected among
the Best Financial Innovation Labs by Global Finance magazine,
as part of The Innovators 2020, for the second time in row.
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.
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