Reported by: banking|Updated: December 31, 2020
Yes Bank is collaborating with CRM software and services provided by Salesforce to build a next generation technology platform to power the retail lending business. The move is in line with the bank’s strategy to further scale up its retail assets portfolio. The bank hopes that with this collaboration it will be able to engage customers with a unified experience and drive aggressive retail led growth. The bank is among the first banks in India to move to Salesforce for loan origination and processing. The deployment of the Salesforce Loan Origination System for retail banking will enable the bank to provide personalized solutions and connected banking experiences for consumers across segments. It will bolster the Bank’s capacity to process higher volumes of loan applications through enhanced automation and progressive API integrations while also eliminating manual processes in the loan cycle – thereby reducing the turnaround time for improved customer satisfaction. In addition to end customers, 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 – thereby empowering the internal and external ecosystem of the bank. Prashant Kumar, MD & CEO of the bank, said the bank looks forward to driving further innovations through the Salesforce ecosystem that will benefit its customers, thereby accelerating the bank’s growth journey towards doubling retail and SME business by December 2023. Arundhati Bhattacharya, CEO and Chairperson, Salesforce India, said the new normal has reinforced the importance of the customer and businesses need to focus on long-term relationships ensuring customer wellness. From creating back-office efficiencies to powering personalized end-user experiences, Salesforce looks forward to a fulfilling association with the bank, she added.