Yes Bank announces launch of 'YES Fintech Developer'

Private sector bank Yes Bank on Wednesday announced the launch of "YES Fintech Developer", claiming it to be Indias largest banking API developer platform. YES, Fintech Developer, Indias largest API sandbox with 50+ virtual APIs, marks the evolution of the Bank's technologies to Open Banking, Yes Bank said in a release.

It said the sandbox builds on the Bank's strategy of using API banking as an enabler to customize digital solutions for its clients. This will not only help corporates, MSMEs and startups to identify 'best-fit' APIs based on their sectors, but also allow them to test the APIs with their app in a secure environment.

The sandbox will enable clients across sectors to visualize multiple banking use cases, customized for their application and understand possible integrations and functionalities of the Banks APIs, it added. "YES Fintech Developer sandbox will create a perfect collaboration opportunity with startups to test emerging solutions such as alternative data-driven banking models, gamified solutions to nudge user behavior and more," Yes Bank Chief Digital Officer Ritesh Pai said.

"Along with this, the platform would showcase our API suite functionalities, responses with corporate and MSME clients and help them to understand full attributes of our API stack while enabling faster integration with the Banks APIs," he added. Through the sandbox, Yes Bank will grant access to APIs across four usage categories including account management, payments, cards and CRM.

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