YES Bank, one of India’s most prominent banks utilising emerging technologies, has recently been declared the winner of an award for innovation in data science. This was for their ‘YES Engage Enrich Excel (EEE)’ project.
The EEE project is part of YES Bank’s efforts to utilise data to increase customer satisfaction and drive engagement. It takes the form of a customer engagement program for the relationship managers at banks, giving them a communication point for the customer. This is determined by the most relevant communication point previously given by the customer, and is aimed to address the past interactions of the bank with the customers. At the same time, it engages with the next best product to maximize revenue.
YES BANK is proud to win the “Innovation in Data Science” award for YES EEE (Engage Enrich Excel) at the 9th edition of Aegis Graham Bell Award 2019, hosted by Government of Goa. Read more: https://t.co/CHwlhh4lt3 pic.twitter.com/600Vd6QcD5
— YES BANK (@YESBANK) February 4, 2019
YES Bank has established itself as a market leader in innovation in the BFSI sector. Aiming to target the fragmented regional market in the Indian subcontinent, they have engaged in various AI-based solutions for localization. An example of this is their AI-based chatbot known as YES Robot, which was created to help users with 20+ banking services and 2000+ banking queries.
They have also engaged in a practice known as the ‘YES Datathon’, which aims to fulfill their goal of becoming a technology company in the Banking and Financial Services Industry. This database includes over 600 TB of anonymised data on YES Bank customers, allowing researchers to build algorithms and data models on vast amounts of data sourced from real individuals.
YES Bank has also made multiple strides into using technologies such as blockchain to offer better services to their customers. They have entered into a partnership with Ripple, a company that offers blockchain-based payment solutions for cross-border settlements. This partnership not only increases YES Bank’s international reach, but also allows them to provide competitive pricing for cross-border payments by harnessing the power of the blockchain.
