Yes Bank partners with Salesforce to accelerate its retail growth

Yes Bank has partnered with Salesforce to power its retail lending business and further scale up its retails assets portfolio, the bank said in a media release. The deployment of the Salesforce’s ‘Loan Origination System’ aims to provide personalised solutions and connected banking experiences for consumers across segments, the release further said. 

The new service will help Yes Bank in augmenting its capacity to process higher volumes of loan applications through enhanced automations and progressive API integrations. The product will eliminate manual interventions in the loan cycle and reduce the turnaround time, the bank release said.  

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With this, Yes Bank is the first banks in India to move to Salesforce for Loan origination and processing, the release claimed.  

Salesforce provides solutions in the Customer Relationship Management (CRM) segment.  

The product will also aid the bank in launching new range of innovative products and services to support the evolving needs of customers, the release said. 

Apart from the end customers, the service could also be availed by the bank’s alliance partners, associates, manufacturer dealers and builders.  

“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,” Prashant Kumar, Managing Director (MD) and Chief Executive Officer (CEO) at Yes Bank said.  

"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,” Arundhati Bhattacharya, CEO and Chairperson at Salesforce India, said.  

“From creating back-office efficiencies to powering personalised end-user experiences, we look forward to a fulfilling association with Yes Bank,” she added. 

At 2:15 pm, the stocks of Yes Bank were trading at Rs 17.65 on NSE, up around 0.3 per cent from the previous close.