Yes Bank Offers Retail & Corporate Net Banking

by CXOtoday Staff    Oct 06, 2005

Yes Bank has announced the launch of its retail and corporate net banking service.

Some of the services offered include, RTGS facility on a Straight Through Processing (STP) for all retail and corporate banking customers. RTGS is an instant and convenient way to transfer funds to own or third party accounts, across more than 6000 bank branches in the country, without having to undergo the trouble of issuing a cheque or demand draft.

The Bank also offers a ready reference to a unique online RTGS Bank Library. The Bank library provides details on the codes of various banks and their branches across the country, updated on a real time basis.

Yes Bank will also offer Single Pin access that will enable its retail customers to use their ATM PIN to access all direct banking channels including the Internet.

The Bank has adopted solutions from PortWise to provide ‘two-factor authentication’ enabled online Banking services to its customers in India. In order to access his/her account, the customer will be required to input a username and password, and to transact over a certain value, a one-time password, valid for a short period of time, is sent via SMS to the customer’s mobile phone to complete the transaction.

H Srikrishnan, Executive Director, Yes Bank, said, “As a new generation bank, Yes Bank’s technology and product platforms are futuristic and state-of-the-art to deliver solutions that take into account present and future needs of our customers. We identified that a key concern amongst customers was the confidence to use Internet banking without the worry of fraud or identity theft. Our priorities were to identify solutions to improve customer confidence, offer convenience and provide a reliable and user-friendly experience.”

Besides from the above features, Yes Bank customers can also view account statements, cheque status on real time, order cheque books / demand drafts / account statements, create fixed deposits, check investment portfolio and daily NAV of invested Mutual Funds.