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YES BANK Unveils
‘Bank Branch of the Future’

 
  Introduces RFID Technology for the First Time in Indian Retail Banking at YES BANK, South Extension Branch, New Delhi  
 

New Delhi, March 3, 2009: YES BANK, India’s new age private sector bank focused on innovative banking solutions, today unveiled the first of its kind, ‘Bank Branch of the Future’ at its South Extension Branch in New Delhi. The Bank Branch of the Future aims to transform retail branches from simple transaction outlets to ‘Service Oriented Advisory Centers’ thus shifting the focus from providing vanilla transactions to high-end value added services through the innovative use of technology and futuristic branch design.

As a part of the launch, YES BANK introduces the innovative use of Radio Frequency Identification Device (RFID) for the first time in Indian Retail Banking that allows for personal identification of customers at the Branch, thus enhancing customer experience. Specifically, this is achieved by inserting a RFID microchip into the debit card of customers which transmits relevant customer information to relationship managers while the customer enters the branch.

This technology is being powered by Skandsoft Technologies, consultants for all RFID initiatives at YES  

What is RFID Customer Identification Technology

A small chip / RFID Inlay is inserted into the debit card of the customer– this does not affect existing functionality of the card
When such a card is carried by the card holder through walk-through antennas of the branch, it would be recognized and brief information along with the photo of the customer would be flashed at the screens of branch personnel (RMs)
Using the basic details of customers and the photographs on the screen, RMs would be able to quickly identify customers, greet them by their names and immediately start a meaningful conversation without having to ask for basic regular details

This identification-upon-arrival enhances banking experience significantly as quick personalized service is most valuable to customers

BANK, and provider of real-time pervasive Customer Relation Management (CRM) solutions to the Bank’s customers.
Commenting on the launch, Mr. Ravi Shankar, GEVP & Country Head– Direct Banking & Cash Management YES BANK said “We believe branch banking of the future will increasingly focus on delivering meaningful advisory services to manage and grow individual savings and wealth rather than providing only transaction facilities. The innovative use of RFID technology is a reiteration of our
commitment to periodically introduce innovative products that provide superior consistent service experience to our customers, unparalleled in Indian Banking. ”
Kaushik Yegnan, CEO & MD of Skandsoft Technologies Pvt Ltdsaid “Being a pioneering company in this space is one thing, but working with a customer so focused on delivering cutting edge advantage to their customers is an altogether different experience. Working through the many challenges and barriers we take immense pride in being part of this path breaking project in retail banking.”

Spread across 10,000 sq ft, the South Extension Branch showcases additional cutting edge product technologies that YES BANK envisions to adopt across its other branches in the years ahead.

Some of the high-end technology enabled services available at the ‘Branch of the Future’ currently includes an Automated Teller Cash Dispenser Machine, Touch-screen Internet Kiosk, Speech enabled voice recognition Phone Banking, Wi-fi connectivity and a Knowledge Cafe amongst other facilities. Further, YES Lounge designed as an exclusive banking enclave offers comfort, privacy and intimacy for business and financial discussions in a premium ambience. A combination of these services brings to life the concept of Lounge Banking, thereby creating a paradigm shift in traditional Desk Banking.

YES BANK has 117 branches across 92 locations along with 2 National Operations Centres in Mumbai & Gurgaon.

YES BANK is amongst the

    • First Bank in the World to create a Wi-fi banking network
    • First Bank in India to create Automated Teller Cash Dispenser systems enabling faster and accurate cash dispensing from Teller workstations.
    • First Bank in India to offer Single PIN access to all delivery channels
    • First Bank in India to offer Two Factor authentication on soft token to net banking customers
    • First Bank to offer speech enabled voice recognition Phone Banking services
    • First Bank in India to offer online account aggregation services to customers.

 

ABOUT YES BANK

YES BANK, India’s new age private sector Bank, is the outcome of the professional & entrepreneurial commitment of its top management team, to establish a high quality, customer centric, service driven,  private Indian Bank catering to an Emerging India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

 A key strength and differentiating feature of YES BANK is its knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients.

YES BANK is steadily building corporate and institutional banking, financial markets, investment banking, corporate finance, business (SME) and transactional banking, retail banking and wealth

 management business lines across the country.  The Bank’s constant endeavour is to provide a consistent banking experience expressed with simplicity, empathy and totality.

President – Business Banking

Varun Tuli is the President – Business Banking at YES BANK.

 He is responsible for planning Business and managing the Business Banking (Small and Medium Enterprises, and Business Liabilities) activities of the Bank. He is also responsible for product development, building Human Capital strengths, effective delivery of services, and establishing the service levels required for the Business Banking function.
Varun has over 20 years of experience in Corporate & Investment Banking with international Banks and Financial Organisations across different geographical locations particularly India, Singapore and Hong Kong. Prior to joining YES BANK, Varun was the Executive Director and Country Head at Avigo Capital Partners, a Private Equity firm where he managed the end-to-end execution process for The Avigo SME Fund.
Prior to joining Avigo, Varun was the Executive Director at Strategic Capital Corporation, a boutique investment bank in India.  He was the Original Promoter Director and during his entrepreneurial tenure with the organization, Varun was instrumental in building several businesses and key relationships across the country.

reviously, he was the Vice-President at Lehman Brothers Asia in Singapore and Vice-President and Regional Business Manager at Bank of America. Varun set up a first of its kind USD 150 million fund which primarily consisted of investments by Non-Resident Indians, while at Lehman Brothers. At Bank of America, along with the Corporate Banking function, he was also leading the Global NRI business for the bank which had offices in the Far East, Europe, the U.S. and India. He held positions of increasing responsibility in Bank of America between 1989 and 1995, and was awarded The Chairman’s Eagle Pin award, the highest recognition in Bank of America, for successfully penetrating into the largest and most profitable relationship in India. Varun has also worked with American Express Bank in India, prior to his Bank of America assignment.

Ravishankar, Executive Vice President  & Country Head, Direct Banking & Cash Management Services


Ravishankar is responsible for developing and managing all electronic channels for the Bank, including Internet, Mobile, ATM, Card Products, Bill Pay and Call centre.
Within a span of a Year, YES BANK has successfully launched Retail & Corporate Internet Banking with two factor authentication, Comprehensive Mobile Banking services, International debit card’s in association with MasterCard International , YES bank’s own ATM network and shared network ATM access across all ATM’s in India. The bank has also launched Bill Pay services and is shortly working on launching its own IP based Contact centre, using speech technology and integrating voice, data and Video.
Ravishankar brings with him over 10 years of professional Retail Banking experience. Prior to joining YES BANK, he was working with ABN AMRO for almost eight years. At ABN AMRO he was part of the Retail Country office team, managing and executing all the electronic banking initiatives across all Direct Banking channels. At ABN AMRO he launched the country’s first Mobile Wallet, which allowed consumers to pay for their purchases using a cell phone.
He began his career with HDFC Bank in retail banking. Here he was involved in managing the retail branches and software implementation processes.
He has an MBA in Marketing and a Bachelor Degree in Economics.

ABOUT SKANDSOFT TECHNOLOGIES

SkandSoft Technologies is a pioneering solution development company with a dedicated focus on      RFID (AIDC) technology. The AIDC middleware SETUTM is the recipient of the prestigious Frost & Sullivan, 2006 RFID Emerging Technology of the Year Award, followed by the Frost & Sullivan Market Leadership award in 2007, is EPCglobal certified RFID Software. SETUTM has also been certified by SAP as "Powered by SAP NetWeaverTM".

SkandSoft Technologies has developed and successfully deployed diverse RFID / AIDC turnkey applications across industrial and functional verticals

Kaushik Yegnan – MD & CEO – SkandSoft Technologies Pvt. Ltd

Kaushik was heading the business development and  marketing functions in the capacity of
Business Development Head at CA Satyam ASP, a joint venture between Computer Associates US and Satyam Computers India, before teaming up to join SkandSoft. He has over 15 years of experience in the marketing, media and in the  information technology domains. He has been involved with the early phases of e-learning implementations in India as Head-Marketing with Brainvisa Technologies Limited.  Kaushik had created and launched India’s first newspaper for children “Super Junior Times” in September 1991 as its founding editor. Apart from dabbling in writing fiction and painting, Kaushik is also a trained vocalist in the Indian classical stream.  Kaushik has successfully driven Skandsoft to attain a significant position in global markets in the
RFID and AIDC domain and also holds a US Patent for technology.

C:\Documents and Settings\hpathrabe\Desktop\Money Monitor.jpg MONEY MONITOR

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