Yes Bank partners with Microsoft to transform mobile banking experience
2 min read . Updated: 03 Jan 2023, 01:23 PM IST
Premium- As per the statement, the new app will run on Microsoft's enterprise-grade cloud platform.
Yes Bank on 3 January announced its partnership with Microsoft to bring forth a next generation mobile application with a view to provide customers with a personalised banking experience.
Yes bank will leverage Microsoft’s Azure platform to create the app which will offer customers a host of services such as online payments, shopping, rewards, offers, as well as customized dashboards, in addition to traditional banking functions, the company said in a statement.
As per the statement, the new app will run on Microsoft's enterprise-grade cloud platform.
With the support of the app, Yes Bank aims scale up various services by bringing merchants and ecosystem partners on to a common platform.
This will empower the Bank to cater to diverse financial needs of customers across loans, payments, deposits, investments, cards and more, it said.
Commenting on the development, Prashant Kumar, MD & CEO, Yes Bank said “Our partnership with Microsoft is a testament to this effort, as we look forward to co-creating a proposition that will offer customers with the benefit of transacting, as well as undertaking a host of other activities on a common platform."
"We believe, the proposition will bring in the right mix of convenience and flexibility while being within the realms of a highly secured network of both Yes Bank and Microsoft," he added.
Speaking on this collaboration, Anant Maheshwari, President Microsoft India, said, “Yes Bank has been embracing the shift from traditional banking to creating personalized technology-driven customer experiences."
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"Microsoft Azure enables Yes Bank with secure and resilient architecture that helps them build new experiences for their customers," he added.
Meanwhile, the share price of Yes Bank traded higher by 1.15 percent at ₹21.90 on BSE, at the time of writing this copy.
It hit a 52-week high of ₹24.75 on December 14, 2022. The stock has been on the rise for last 6 months, gaining ₹9.25, or 73.12 percent.
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