YES Bank Story: How Rana Kapoor Channelized the Bank into a Tech-Driven Entity

Aitha Singh
3 min readAug 23, 2021


On the efforts of the private banks in shouldering the duty towards society and economy by opening up of APIs, increased adoption of digital solutions and enhanced collaborations with fintech-startups, Rana Kapoor’s role in driving the fintech revolution within the banking sector is paramount.

YES Bank has been one of the country’s foremost banking institutions that has pioneered the fintech revolution in the nation by embedding a technology driven ecosystem in all its processes. Rana Kapoor, the MD and CEO of the bank, implemented his vision of “Future Now: Bringing the future into the present” by initiating this technological revolution in the country’s banking sector to sync with the “Digital Revolution” that India foresees for its future.

Initiatives including the launch of AI-powered chatbots or the use of blockchain for transactions are some brilliant initiatives amongst the many achievements the private bank is accredited with. YES Bank is also acclaimed for being one of the first banks to implement UPI for digital payments in our country, as it served 75 million customers in partnership with PhonePe in 2016.

In pursuance of Rana Kapoor’s vision in creating a tech-driven bank, YES BANK aligned with partners such as IBM for hardware products, and Microsoft and Oracle for environmental software (O/s and Database products). Additionally, it partnered with iFlex, FundTech, and Winsoft for Core applications and several others for point solutions. A long-term Total Outsourcing arrangement with Wipro Limited had also been initiated to manage IT operations, and lend infrastructure as well as application support for the bank.

In 2017, the bank launched Multi-Nodal Blockchain based transaction services in collaboration with IBM Watson and undertook a revolutionary step in the direction of digitizing vendor financing. It also implemented Chain Code, developed by Cateina Technologies, to element paper trails and provide end-to-end digital transaction.

Rana Kapoor being a visionary and innovator himself, was one of the earliest leaders to recognize the future of the nation that ties itself to a tech-driven economy- steadily but surely. He envisioned the scope of a “cashless economy” to generate itself to popular culture in a country that was in far skepticism of UPIs and digital transactions during those times.

With its philosophy to engage with selected partner companies — who are acknowledged leaders in their products or businesses — in developing specific solutions for YES BANK, under Rana Kapoor, the bank has indeed been a differentiator in the marketplace.

YES Bank was the first Indian bank which strove to upgrade the B2B supply network and digitize the infrastructure. For this purpose, the bank launched ‘Application Programming Interface (API) banking services and integrated the customers with their corporate ERP systems.

In line with Rana Kapoor’s dreams to work for the betterment of his nation, Yes Bank also forayed into e-Governance domain to aid and equip the Government institutions in ensuring last mile connectivity of financial services and operations.

It embraced the DBT (Direct Benefit Transfer) Solutions spearheaded by the Ministry of Finance and joined the Government of Rajasthan to develop Bhamashah Digital Wallet for digitized payments. The Wallet launched in 2018 was aimed at over 65,000 eMitra retailers and registered 56 million beneficiaries across the state. Furthering the deployment of technological services and products in financial operations, the bank played central role in G2C (Government to Citizen) Services and collaborated with Nashik and Udaipur under the Government of India’s Smart City scheme.

The Bank initiated efforts towards Internet of Things (IoT) focused fintech as part of its YES FINTECH initiative. Indian tech companies have been projected to provide almost 3 million jobs through the adoption of IoT and AI across sectors.

The bank has also been simultaneously active in encouraging and supporting the Indian fintech start-up sector, and increasing collaboration between banks and these start-ups through various innovative models, including its YES FINTECH Accelerator.

With the example of the robust tech-systems that YES Bank under the leadership of Rana Kapoor has entrenched, efforts to transform the entire digital payments value chain will surely set the tone of the fintech future of the country.



Aitha Singh