• First of its kind app – already deployed in 3 associations, catering to 1500+ MSMEs, plan to onboard 50 associations by FY20
• Platform application with sectoral inputs, knowledge sharing, e-marketplace for inter-MSME trade and seamlessly integrated banking
• YES, SCALE Business Solutions already deployed in 30+ institutions enabling INR 100 crore+ CASA inflow for the Bank within a month of the launch. The Bank aims to onboard 200+ institutions in the current FY
Mumbai, October 2019: YES SCALE, YES BANK’s innovation program has launched YES SCALE Bizconnect, a first of its kind app by a Bank, designed to digitize operations of MSME Associations through curated technology and banking solutions.
Bizconnect – an industry-first initiative, is a comprehensive solution for MSME associations to connect and manage their entire member base, share information and industry-specific knowledge as well as enable members to trade and transact among each other through a specially designed
e-marketplace. The app seamless dovetails all banking transactions of the association ranging from member fee collections to sponsorships, event and symposium bookings entirely on the platform. The app will also serve as a virtual knowledge platform with industry-specific reports, articles and expert interviews curated basis interests of individual members.
In line with YES BANK’s commitment towards creating an enabling environment for MSMEs, Bizconnect offers –
• A plug & play platform solution which helps associations to enhance member connect, ease administrative hassles, share knowledge easily and also acts as a marketplace for members for their businesses
• Enables members to list their products and services with an option to buy/sell/order as well as place inquiries – boosting member trade as well as association connect. YES BANK’s digital banking suite also enables purchases, pay later and collections on this marketplace
• Completely digitize all financial transactions – Membership fee, event booking, hall booking – payments, collection and reconciliation
• Association Member MSMEs can avail any banking product, just through a click
Commenting on the launch, Rajan Pental, Senior Group President and Head – Branch and Retail Banking, said, “YES BANK has been focusing on the technology adoption segment through a slew of digital innovations such as instant OD availability and GST based lending. Through YES SCALE Bizconnect and YES SCALE Business Solutions, the Bank now extends its ‘Knowledge Banking’ focus to help digitize operations for its key MSME partners through curated banking and technology solutions. This is in line with the Bank’s commitment towards helping MSMEs scale up and grow their businesses.”
The Bank has also developed YES SCALE Business Solutions, a bespoke sector solutioning model for Education, Logistics & Supply chain, Healthtech, and Clubs & Gymkhanas. 30+ institutions across sectors have already adopted the solution.
