Banking

YES BANK retail loan process to become easier and faster as it joins hands with Salesforce

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YES BANK has joined hands with Salesforce, a global leader in customer relationship management, to build a next generation technology platform to smoothen its retail lending business. The private lender is the first bank in the country to collaborate with Salesforce for loan origination and processing. This collaboration aims to engage customers with a unified experience and drive aggressive retail led growth for the lender, the bank said in a statement.

The Salesforce loan origination system for retail banking will help the bank to provide “personalised solutions and connected banking experiences for consumers across segments”. YES BANK’s capacity to process higher volumes of loan applications through enhanced automation and progressive API integrations will be bolstered. The new system will be faster and easier than manual loan sanctioning process. The turnaround time for a loan application will be improved, the bank said. It will also enable the bank to launch a new range of innovative products and services to support the evolving needs of customers faster than before.

With this new partnership, the internal and external ecosystem of the bank will also be empowered. The bank’s alliance partners, associates, manufacturer dealers and builders, among others can leverage the platform for accelerated fulfillment at the point of sale itself, the lender said in a statement.

“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 customised digital solutions,” YES BANK said.

Commenting on the new partnership, Prashant Kumar, MD and CEO, YES BANK, said, “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,” he further added.

“Salesforce is excited and proud to be collaborating with YES BANK on their digital transformation journey to power the retail lending business for India. From creating back-office efficiencies to powering personalized end-user experiences, we look forward to a fulfilling association with YES BANK,” said Arundhati Bhattacharya, CEO and chairperson, Salesforce India.

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