Salesforce chosen by YES BANK to accelerate retail growth
By Edil Corneille
YES BANK announced its collaboration with Salesforce to build a technology platform to power the retail lending business in line with the bank’s strategy to further scale up its retails assets portfolio. Leveraging on the strengths of YES BANK’s technology capabilities and Salesforce’s platform, this collaboration aims to engage customers with a unified experience and drive aggressive retail-led growth for the bank. YES BANK is among the first banks in India to move to Salesforce for Loan origination and processing.
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 capacity of the bank 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.
In addition to end customers, the bank’s alliance partners, associates, manufacturer dealers and builders, among others can leverage the platform for accelerated fulfilment at the point of sale itself, thereby empowering the internal and external ecosystem of the bank.
The platform will enhance collaborative innovation within the bank, providing 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.
Prashant Kumar, MD & CEO, YES BANK enunciated, “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.”
Arundhati Bhattacharya, CEO and Chairperson, Salesforce India elucidated, “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. From creating back-office efficiencies to powering personalized end-user experiences, we look forward to a fulfilling association with YES BANK.”
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November 29, 2023