MUMBAI: Targeting executives like CFOs, Directors, Finance Heads and Owners, who are pressed for time and availability, India’s fifth largest private sector bank, YES Bank has launched YES Transact – On the Go. YES Bank says it is a Digital Working Capital Management solution that will enable decision makers to view and approve transaction requests even when they are traveling or are out of office.
YES Bank believes that its unique application would now enable accounts/finance team to raise transaction requests via the desktop application in office which will then be transmitted to the executives’ hand held device. This solution would allow decisions to be made on the move, eliminating process bottlenecks due to unavailability of the decision makers and facilitating faster lead times. As per the Bank, On the Go significantly reduces the Turn Around Time (TAT) by 50%, completing a 2-3 hour offline process within an hour. On the Go is available on both iOS and android app store.
YES Bank has on boarded more than 200 clients, a mix of midsized corporates and SMEs, on this mobile banking platform who are successfully using it for their business transactions. The Bank aims to shift the existing client processes (which are mostly depended on email /fax) to this mobile banking application by year end and curb cyber risks by providing enhanced security measures.
Speaking about the launch, Asit Oberoi, Group President and Global Head, Transaction Banking Group at YEBANK said, “In today’s fast paced, globalised business environment, decision makers need to persistently be on top of their game. With YES Transact ON THE GO, we are pioneering a paperless way of transaction banking that will usher in an era of seamless business processes and operational excellence.”