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Tag: YES BANK

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Ex-YES Bank Chief Product Officer, Transaction Banking Group, Mr. Munindra Verma joins M1 NXT as CEO

Jul 9, 2024 by Mansi 0 Comments #IFSCA, #ITFS, #Mr. Munindra Verma, #Sundeep Mohindru, #YES BANK

Delhi, 09 July 2024: M1 NXT, an International Trade Financing Services (ITFS) platform licensed by the International Financial Services Centres Authority (IFSCA) and a subsidiary of M1xchange, is pleased to announce the appointment of Mr. Munindra Verma as the Chief Executive Officer. Mr. Verma, earlier worked with YES Bank wherein he served as Chief Product Officer and Head of Strategy & Transformation in Transaction Banking Group at YES Bank.

Mr. Munindra Verma CEO M1 NXT

Mr. Verma, a seasoned banking professional with over 26 years of experience in Corporate and Transaction Banking, brings wealth of knowledge and expertise. At M1 NXT, Mr. Verma will focus on building and establishing the company’s position as a trusted Trade Finance solution provider. He will be responsible for expanding the network of Global Financiers on M1 NXT platform thereby enhancing liquidity for enterprises based in India/abroad. Mr Verma will also lead efforts to integrate digital technologies that streamline trade processes, enhance transparency, and reduce transaction costs for banks, exporters and importers which could make M1 NXT a global ITFS platform of repute.

Sundeep Mohindru, Promoter & Director Mynd Group said, “Welcoming Mr. Munindra Verma to Mynd Group, marks an exciting chapter for us at M1 NXT. With his extensive experience and proven track record in Corporate and Transaction Banking, we are confident that Mr. Verma will lead M1 NXT to new heights. His expertise in building innovative financial solutions will be instrumental in establishing M1 NXT as a trusted provider of international trade finance solutions for Indian businesses. We look forward to the transformative impact he will have on our growth and market presence.”

“Joining M1 NXT presents a remarkable opportunity to contribute to the India’s aspiration of 7 trillion-dollar economy by 2030. Our aim will be to ease the global trade by tapping global financing opportunities to meet India’s development needs. With the IFSCA prioritizing trade finance and the government’s focussing on growing India’s cross border trade, India is poised to become a global export leader. Our efforts will be to integrate digital technologies that streamline trade & financing processes making M1 NXT as the most trusted brand for International Trade Financing, driving growth and strategic initiatives across all dimensions.” Said Munindra Verma, Chief Executive Officer, M1 NXT.

news

YES BANK and ANQ Launch Co-Branded Credit Cards, Pi and Phi, Bridging Traditional Banking with Fintech

Apr 30, 2024 by Sujata 0 Comments #ANQ Launch, #credit card, #Mr. Ashish Khandelwal, #YES BANK

National, India 30th, April 2024: YES BANK, a prominent private sector bank in India, has partnered with Bengaluru-based financial services provider, ANQ, to unveil two groundbreaking credit cards catering to Indian consumers: The Pi and Phi co-branded cards. This strategic partnership aims to bridge the gap between traditional banking and the fintech industry, offering innovative solutions to meet evolving consumer needs.

The Pi and Phi co-branded cards are designed to revolutionise the financial landscape in India with their unique features and benefits:

The YES BANK ANQ Pi Credit Card is a digital-only card that offers seamless credit on UPI for domestic transactions, providing users with convenient and secure payment options. With no joining or annual fees, this card provides financial flexibility without any additional costs. Users can earn 8 reward points on UPI transactions above Rs. 2000, while also gaining access to RuPay Platinum Benefits for added perks. Moreover, the card provides accelerated rewards on UPI spending, enhancing the value of every transaction. Additionally, users can easily convert purchases into EMIs, further enhancing the flexibility of this innovative card.

Wealth Creation-all

On the other hand, the YES BANK ANQ Phi Credit Card caters to both domestic and international purchases with its physical card format, offering users versatility in their spending options. Like the Pi card, there are no joining fees, ensuring accessibility for all users. This card boasts rewards across various categories including dining and travel, allowing users to maximise their benefits with every spend. Additionally, users can enjoy fuel surcharge waivers and international lounge access, adding further value to their card usage. With the ability to earn 24 reward points on selected categories for spends of Rs. 200 and 4 reward points on other spends of Rs. 200, this card offers unparalleled reward potential. Suitable for both online and offline shopping worldwide, the Phi card provides users with a comprehensive and rewarding payment solution for all their needs.

This collaboration signifies a significant step towards providing Indian consumers with unparalleled choices in both spending and rewards. The partnership between YES BANK and ANQ embodies a response to the rapidly evolving digital finance landscape, characterised by technological advancements and shifting consumer behaviours.

A Benchmark for the Fintech Ecosystem:

Regarding the alliance, Mr. Ashish Khandelwal, Founder of Anq, stated, “This partnership with Yes Bank to launch these co-branded credit cards is a testament to our commitment. With ANQ’s fintech solutions, our focus is on enabling intelligent digital-first solutions. Yes Bank’s vision aligns seamlessly with our goal of delivering maximum value to savvy consumers. Together, we are dedicated to ensuring that this alliance brings forth smart financial solutions that cater to the evolving needs of the modern consumer.”

As YES BANK and Anq embark on this journey, they highlight a broader transition towards a digital-first economy, with their collaboration serving as a guiding light for the future of the Indian fintech ecosystem. The strategic vision of Anq and YES BANK to target this segment underscores a deep comprehension of the market’s future trajectory.

We are forging a path toward a future where every financial decision, no matter how minor, represents an opportunity for advancement. In doing so, they are not only reshaping the landscape of credit cards in India but also reimagining the essence of financial interaction for future generations.

Mr. Anil Singh, Country head of Credit Cards and Merchant Acquiring, YES BANK, said “Together with ANQ, we are poised to introduce a pioneering rewards ecosystem and card solutions that seamlessly blend the reliability of traditional banking with the agility of fintech innovation. Our collaboration is set to redefine the card industry, offering consumers unparalleled choices in spending and rewards.”

The Phi card, powered by the Mastercard network, promises limitless rewarding experiences both online and offline, worldwide, while the Pi card, a virtual RuPay card, provides seamless credit transactions on UPI, offering unparalleled convenience and versatility.

CARD91
business

CARD91, a global Payment Issuance Infrastructure company, announces strategic partnership with YES BANK and RuPay

Jun 20, 2022 by Praveen 0 Comments #CARD91, #RuPay, #YES BANK

CARD91, a global payment infrastructure powering B2B payments, announced a strategic partnership with YES BANK and RuPay, the flagship product of National Payments Corporation of India (NPCI). Through this partnership, CARD91 will create a card management system that will allow companies to launch a variety of co-branded card instruments as well as maintain a real-time dashboard to generate insights. This will enable CARD91 to expand its presence in the Indian payments market.

CARD91’s partnership with YES BANK and RuPay will enable the company to provide businesses of all kinds across various sectors with a range of card instruments for managing and securing payments. Businesses will now have an option to choose from co-branded or non-branded card instruments, thereby giving them an innovative solution to address specific use.

CARD91 is a plug-and-play Payment Issuance Infrastructure designed to help businesses launch co- branded cards and simplify payments. By managing compliance, regulation, infrastructure, lending, issuance, and customer service, the company offers a seamless process for the launch of co-branded payment cards. CARD91 optimises costs, decreases launch time and provides real-time insights and data on card instruments.

CARD91 allows businesses to monitor their payment flows, from onboarding to processing transactions and data reconciliation. Banks can offer their customers access to new-age payment services, as well as support card-based lending. The company is also in discussion with other brands about co-branded instruments.

“We are delighted to partner with YES BANK and RuPay,” said Ajay Pandey, co-founder of CARD91. “This partnership will help us offer businesses a simple and secure way to manage their payments, compatible with a wide range of payment networks across the country. By utilizing the scalable CARD91 infrastructure, businesses will be able to launch any type of card instrument quickly and gain real-time insight into their usage. Our aim is to further revolutionise and accelerate the Indian digital payments system.”

Speaking on the occasion, Naveen Chaluvadi, Chief Digital Officer, YES BANK, said “We are pleased to partner with CARD91 on this technology-driven project platform. This is in line with our strategy of nurturing innovation, strengthening the payments ecosystem and creating commercial models that will provide value for our customers and clients. This partnership aims to provide technology support to propel go-to-market for businesses, enabling them to launch multiple prepaid payment instruments, thereby delivering the convenience of digital-first solutions to more consumers. We are looking forward to step-up our efforts to deliver a range of solutions that add value to customers and push the boundaries through this strategic arrangement with the help of partnerships across multiple programs.”

Mr. Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI said, “We are pleased to be an integral part of CARD91’s new-age solutions in terms of card management system for businesses. We believe such kind of initiatives will further add value to RuPay’s journey of providing a seamless and tech-led corporate payment management experience to businesses. With RuPay’s immense popularity among retail customers, we are confident to witness its increased adoption among the business fraternity as well.”

Bengaluru-based CARD91, which has offices in Mumbai and Delhi, is poised to become a major player in the global payment infrastructure market. CARD91 recently emerged from stealth mode and raised

$13 million in a Pre-Series A round of funding. In August 2020, Ajay Pandey, Kush Srivastava, and

Vineet Saxena founded the technology startup. All three have founded successful ventures in the past, including Myntra, Mastiff, and Quiklo.

Swasth
business, health

Affordplan Swasth And NU Hospitals Announce Tie-Up To Help Patients Save On Their Medical Bills

Jan 18, 2022 by Gouri 0 Comments #healthcare, #healthcare savings card, #NU Hospitals, #Prasanna Venkatesh, #Shivmoga, #Swasth, #YES BANK

Shivmoga 17 Jan 22, Affordplan Swasth and NU Hospitals have announced their collaboration on a healthcare savings card to make NU hospital services accessible for more patient families. The Affordplan Swasth card offers customers complete access to all the hospital services at NU Hospitals with financial benefits and a full range of healthcare financing options for their entire family. The card can be used easily at all branches of NU including Bangalore, Shivamogga, and Ambur.

Affordplan Swasth is a YES BANK prepaid card with a digital wallet that enables OPD (Outpatient Department) services, lab tests, purchase of medicines and goal-based EMI savings for all IPD (Inpatient Department) treatments. Equipped with a chip-enabled card, customers will also enjoy additional benefits in the form of instant cashback, exclusive hospital offers and exclusive discounts on preferred brands through the Affordplan Swasth partner tie-ups. Affordplan Swasth has already partnered with many hospitals in South India, delivering financial benefits to patients by lowering their medical expenses through their platform.

Aditya Sharma, CEO, Affordplan said, “We are proud to associate with the prestigious NU Hospitals in Karnataka. NU Hospitals have the ability to service a range of patients while keeping recovery and rehabilitation at the centre. With the emergence of the Omicron variant, we hope to extend quality patient care, through our partnership, and enable access to healthcare financing and cost savings faster and more effectively.”

Dr. Prasanna Venkatesh, Sr. Consultant Paediatric Urologist & Managing Director at NU Hospitals said “Affordplan is truly about empowering patients to take control of their healthcare financial planning. With this valuable partnership, we move forward towards healthier, happier patient care.”

Affordplan has partnered with hundreds of hospitals across 15 cities, having touched more than 5,00,000 patient lives through their product. They already have a strong hospital network footprint in Delhi/NCR, Bangalore, Jaipur. Mumbai, and Kolkata markets and are expanding aggressively in South India. As of now, they have active collaborations with 80+ hospitals in India.

About Affordplan
Launched in 2015, Affordplan is a first-of-its-kind fintech platform, which is at the intersection of finance, healthcare, and technology. They’ve partnered with hundreds of hospitals across 15 cities, having touched more than 5,00,000 patient lives through their product. Swasth – their current innovation is a healthcare savings card launched in collaboration with YES BANK, that can be used across OPD, IPD, lab, and pharmacy services. Affordplan Swasth offers a full stack of financial services for healthcare including an OPD wallet, IPD savings, medical loans, and insurance.