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India’s Yes Bank launches banking API developer platform

Yes BankPrivate sector lender Yes Bank has launched ‘YES Fintech Developer‘, an API sandbox with 50+ virtual APIs. The sandbox, that was launched last week in Bengaluru, builds on the bank’s strategy of using API banking as an enabler to customize digital solutions for its clients.

The sandbox help corporates, MSMEs and startups to identify ‘best-fit’ APIs based on their sectors and allows them to test the APIs with their app in a secure environment. It will enable clients across sectors to visualize multiple banking use cases, customized for their application and understand possible integrations & functionalities of the bank’s APIs.

YES Fintech Developer also provides a boost to the bank’s effort of co-creating innovations with Fintechs, startups and the developer ecosystem to enhance the customer experience. While API suites from banks have helped such partnerships, it is often difficult for Fintechs and startups to experiment with live APIs to build new features and capabilities, the bank said. The sandbox will ease these concerns by providing a secure virtual environment to test, train and develop solutions with banking integrations.

“YES Fintech Developer sandbox will create a perfect collaboration opportunity with startups to test emerging solutions such as alternative data-driven banking models, gamified solutions to nudge user behavior and more. Along with this, the platform would showcase our API suite – functionalities, responses with corporate and MSME clients and help them to understand full attributes of our API stack while enabling faster integration with the Bank’s APIs,” said Ritesh Pai, Chief Digital Officer, YES BANK.

Through the sandbox, YES BANK will grant access to APIs across four usage categories with operations such as –

  • Accounts: Account Opening; Account Management; Customer Portfolio
  • Payments: Beneficiary Management; Fund Transfer; Bill Payment; Recurring Payment
  • Cards: Credit Card; Debit Card
  • CRM: Lead management; Customer Service
  • Partner APIs: Sandbox APIs of partner organizations across sectors (which is to be launched soon)

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