Enterprise IT vendor IBM announced its digital deal with YES BANK, fifth largest private sector bank in India, to enhance customers’ digital experience.
YES BANK has deployed an IBM API Management solution to provide an enhanced digital experience to its customers.
IBM technology will allow YES BANK to define the APIs required for digital banking, helping YES BANK reveal its core business services and data to industry partners and customers in a secure ecosystem.
The solution is helping YES BANK to leverage the API Economy transformation.
Earlier, YES BANK used IBM MobileFirst platform to offer secure apps to give personalized digital banking service to customers.
Through a portal the bank can expand its revenue generating channels by adding multiple partners in days, rather than months. These capabilities will deliver improved business performance with lower IT costs through reduced time to market and increased efficiency.
YES BANK is also planning to create a developer ecosystem using public APIs such as ATM locator, to help a customer identify the nearest ATM, know the latest Forex exchange rates, and the current deposit and lending rates.
“IBM solutions like API Management and MobileFirst will help us further enhance our offerings to customers seeking seamless integration of their financial supply chain with the bank, while enabling us to improve business performance and IT costs,” said Anup Purohit, chief information officer of YES BANK.
Prashant Sharma, systems software leader, IBM, said that the IBM API Management solution will enable YES BANK to unlock the business value of existing applications and gain competitive advantage through innovative use of technology.