Yes Bank announced on Tuesday that it entered into an agreement with Microsoft to bring forth a next-generation mobile application (app) with a view to provide customers with a personalised banking experience.
Yes Bank would leverage Microsoft's Azure platform to create the app which will offer customers -- a host of services such as online payments, shopping, rewards, offers and customised dashboards, in addition to traditional banking functions, according to a statement from the Bank.
Using a cloud-native approach, the all-new app will run on Microsoft's enterprise-grade cloud platform, and will support Yes Bank in scaling up various services by bringing merchants and ecosystem partners on to a common platform, Yes Bank said. The company statement said this would empower the Bank to cater to diverse financial needs of customers across loans, payments, deposits, investments, cards and more.
Prashant Kumar, Managing Director and Chief Executive Officer, 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."
Cloud native computing is an approach in software development that utilises cloud computing to build and run scalable applications in modern, dynamic environments such as public, private, and hybrid clouds.
Anant Maheshwari, President, Microsoft India, said, "Yes Bank has been embracing the shift from traditional banking to creating personalised technology-driven customer experiences. We are excited to collaborate with Yes Bank on their digital transformation efforts. Microsoft Azure enables Yes Bank with secure and resilient architecture that helps them build new experiences for their customers."
( With inputs from ANI )
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