Yes Bank onboards Salesforce to build a retail lending technology platform

Mumbai headquartered Yes Bank announced on Tuesday that it has collaborated with customer relationship management (CRM) major Salesforce to build a retail lending technology platform for the its retail assets portfolio.

Called the Salesforce Loan Origination system for retail banking, the solution from the San Francisco based software giant would help Yes Bank to provide personalised solutions and connected banking experiences for its customers, according to a statement. 

Additionally, it would also help the bank increase its capacity to process higher volumes of loan applications through better automation and API (application programming integrations while also eliminating manual processes in the loan cycle. This would help in reducing the overall turnaround time of providing solutions and also innovate faster, Yes bank said. 

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“The Salesforce ecosystem will benefit our customers, thereby accelerating the bank’s growth journey towards doubling retail and SME business by December, 2023,” Prashant Kumar, MD and CEO, Yes Bank said.

With the new solutions, the bank’s ecosystem, including partners, associates, manufacturer dealers and builders among others, will also be able to realize fulfillment at the point of sale origin. While Internally, all bank employees including relationship managers, risk managers and loan disbursement officers will have a unified view of their customer’s portfolio and be able to provide customized digital solutions.

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The platform will also enhance collaborative innovation within the Bank, providing the Bank’s employees, relationship managers, loan disbursement officers, risk managers and others with a unified view of their customer’s portfolio and improved agility in offering customized digital solutions. 

“From creating back-office efficiencies to powering personalized end-user experiences, we look forward to a fulfilling association with Yes Bank,” Arundhati Bhattacharya, CEO and Chairperson, Salesforce India added.