YES BANK – BANKING ON CISCO
YES BANK is an outcome of the professional entrepreneurship of highly competent top management team. It is the only bank to have a greenfield license awarded by the RBI in the last 14 years. 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 consistent customer service experience for its retail banking and wealth management clients. YES BANK is built on a foundation of trust, strengthened by knowledge, backed by cutting-edge technology, governed by transparency and committed to responsible banking. The result is an unstinted commitment to managing your financial needs. Today, YES BANK is present across all major cities in India and offers a comprehensive range of banking products and financial services which include corporate and institutional banking, financial markets, investment banking, business and transactional banking and retail and private banking business lines across the country. The Bank’s constant endeavour is to provide a consistent banking experience expressed with simplicity, empathy and totality.
Technology – The competitive differentiator
As a new generation bank, YES BANK had the advantage of accessing the latest available technology. The Bank took a calibrated decision to invest in the best IT systems and practices in order to make its technology platform a strategic business tool to build competitive advantage. The Bank had outsourced a significant part of its technology, infrastructure and hardware requirements. The technology platform enabled the Bank to achieve high standards of customer service at comparatively lower cost structures. Gartner advised the Bank in adopting global best practices in its IT strategy and technology roadmap. One of the key features of the Bank's technology strategy was to establish long-term partnerships with best-in-class technology service providers that enables co-creation of value and offers differentiated solutions to its customers. YES BANK has been accredited with ISO9001:2000 certification from BVQI for its back office processes and operations.
Till fiscal 2008, YES BANK did not have a contact centre which is primarily viewed as profit centres in current market environment. It was therefore imperative to build one at the earliest, keeping cost dynamics in mind. The ROI framework thus created had to address the challenges of both sales and service. These included: • Reduce / migrate services from branches • Centralize outbound voice –marketing • Centralize – customer grievance and resolution unit There were three other key factors to be considered during the architecting of the solution. Firstly the shift in telecom usage from landline to mobile made it difficult for customers with mobile phones to use the touch tone IVR. Secondly consumers communicate with their institutions equally via email and voice, hence YES BANK wanted a solution which integrated Email, Chat and Voice response on a single platform and lastly YES BANK wanted a solution which was scalable easily from 0 – 1 million customers.
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Moreover, various elements were spread over multiple locations. Contact Center agents were in Gurgaon, Technology infrastructure was in Mumbai and provisions are being made in MumbaiOperations center for housing agents in for disaster recovery or ramp up requirements.
Cisco’s objective was to provide YES BANK with integrated interactive services for Retail Banking (Voice services-Liabilities servicing, Assets servicing) Wealth Management, Private Banking, Business Banking and Corporate &...
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