YES BANK implements TransUnion’s onboarding solution

By Leandra Monteiro

YES BANK announced the implementation of TransUnion’s onboarding solution. This solution will enable YES BANK to onboard its credit card customers efficiently and quickly.

The solution has been designed to enable a digital, streamlined onboarding process that delivers the experience consumers prefer such as fewer customer information fields to input, no physical paperwork, and comparatively lesser time required for completing the credit card application. What traditionally required an in-person interaction with customers for physical documentation and processing is now replaced with a completely digital process wherein a digital application link is sent to the customer, which the customer can complete from the comfort of their homes along with a video KYC (Know Your Customer). Further, the solution significantly reduces the integration time and effort for the Bank, while encompassing credit/risk decision workflow for digital end-to-end onboarding.

Speaking on the TransUnion Seamless Onboarding implementation, Rajanish Prabhu, Business Head – Credit Cards & Merchant Acquisition, YES BANK said, “YES BANK remains steadfast in its endeavor to provide customers differentiated and convenient banking experience – the implementation of TransUnion’s seamless onboarding solution reaffirms our commitment. This is in line with our focus on delivering the convenience of digital experiences that technologically savvy customers demand. We look forward to serving consumers with a smoother, faster and delightful onboarding experience, while also helping drive easy access to finance for them.”

Highlighting the features of TransUnion Seamless Onboarding, Shaleen Srivastava, Executive Vice President and Head of Fraud, Solutions and Alternate Data at TransUnion in India said, “COVID-19 circumstances have transformed the credit industry significantly by compelling digitalization across business processes. This trend will continue as consumers are increasingly demanding a digital and seamless onboarding experience that provides a fast, personalized service. TransUnion’s seamless onboarding delivers a full range of identity, fraud, decisioning and credit solutions through a single platform and API calls to make integration easy and convenient for the lender. Its flexible orchestration and plug-and-play offering enables customization to meet evolving business needs and will provide a competitive edge to the credit card customer onboarding process at YES BANK.”

TransUnion’s onboarding helps both lenders and consumers experience a quicker and easier digital on-boarding process. Designed to deliver an enhanced customer journey, while increasing conversions, the solution helps to drive operational efficiencies for lenders.