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News

YES BANK introduces iris

Friday 18 August 2023 12:28 CET | News

India-based YES BANK has introduced its mobile banking application, iris by YES BANK, aiming to improve the country’s digital banking landscape.

The application is designed to suit both existing and new customers, prefiguring convenience and efficiency by providing users with over 100 features and services on a single platform. The objective is to offer a simplified banking experience and ensure the safety of customers’ financial data by integrating security features, including biometric authentication, Sim-Binding, and two-factor verification.

India-based YES BANK has introduced its mobile banking application, iris by YES BANK, aiming to improve the country’s digital banking landscape.

According to YES BANK’s officials, the application was developed in-house, based on users’ feedback, being suitable for all age groups and backgrounds. The bank took into consideration the shared feedback and leveraged its technological capabilities to design a solution that allows users to fulfil their banking requirements. Also, the iris by YES BANK mobile application is available to download both on Android as well as iOS-based smartphones.

Statista’s report from May 2023 confirms that the use of online and mobile banking is expected to increase between 2021 and 2024, with the Asian market being in the lead. Far East and China accounted for approximately 805 million active online banking users in 2020, however, the number is predicted to reach one billion by 2024.  

Features of iris by YES BANK

  • Opening a savings account;

  • Applying for YES BANK credit cards while being able to choose from the options offered by the bank;

  • Access to the bank’s lending products, with approvals from the application itself;

  • Booking recurring and fixed deposits 

  • Access to customisable investment options based on individual risk inclination and financial goals;

  • Access to insurance services integrated into the application;

  • Access to multiple digital modes for making payments.

More information about YES BANK

YES BANK launched a UPI payments facility through its RuPay credit cards at the end of July 2023, enabling existing credit card customers who do not have a RuPay credit card to obtain a virtual card and link it with their UPI application. Back in June 2023, the bank partnered with PayU and Visa to release a new payment solution for merchants. The programme Business Solution Provider provides commercial offerings while reducing the cost for merchants and improving cash flow with credit lines from their commercial card issuer bank.

Moreover, Cashfree Payments partnered with YES BANK in May 2023 for the launch of Global Collection, YES BANK’s international solution for account exporters. Through this collaboration, account holders would have to possibility to collect payments in approximately 30 currencies while using the Global Collection tool, as well as provide customers with dedicated facilities in four different currencies, including USD, EUR, GBP, and CAD.

Source: Link


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Keywords: mobile banking, mobile payments, digital banking, two-factor authentication, biometric authentication
Categories: Banking & Fintech
Companies: Yes Bank
Countries: India
This article is part of category

Banking & Fintech

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Yes Bank

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