Yes Bank boosts digital lending through Paisabazaar API integration

Yes Bank boosts digital lending through Paisabazaar API integration

India's Yes Bank has moved to smooth out its digital lending processes through an API-based integration with Paisabazaar, a marketplace for loans and cards.

The API enables the Paisabazaar platform to integrate directly into Yes Bank's core processing systems. This means that when a customer picks the bank as its preferred option on the Paisabazaar site, there is a "seamless flow" of customer information and documents, cutting the time for making credit decisions and approving loans.

Rajan Pental, group head, branch and retail banking, Yes Bank, says: "This API based lending model envisages making the credit process more templated and will digitize most of the lending processes in order to significantly reduce paperwork thereby reducing the decision turn-around-time for customers."

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India 24 April, 2018, 19:16Be the first to give this comment the thumbs up 0 likes

Full marks to FinTech startups - Piasabazaar ( More in news on TV) for better digital onboarding process than bank.

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