Yes Bank ties up with Falcon: All you need to know

Yes Bank has partnered with Falcon, a banking-as-a-service (BaaS) start-up, to tap into the embedded finance market. Embedded finance allows the integration of a non-financial service with a financial service. The partnership with Falcon will allow Yes Bank to offer various financial services to customers by leveraging the start-up’s wide range of products. While speaking on the development, Prabhtej Bhatia, co-founder of Falcon, said that his team has always appreciated Yes Bank for being one of the digital payments pioneers in India. He added that they are already working with the lender on introducing some innovative product lines. Bhatia added that the response and initial traction from the customers have been phenomenal. He further stated that Falcon looks forward to Yes Bank being a significant part of their journey to achieving $100 billion in transaction processed value (TPV). He went on to state that the company is proud to count Yes Bank as one of its key partners in their aim of becoming one of the world’s leading BaaS platforms. Anita Pai, chief operating officer of Yes Bank stated that their partnership with Falcon will help the bank to create innovative propositions. According to her, the propositions will be created within shorter time periods without compromising on the convenience and quality that Yes Bank is known to offer. She added, “Going forward, we foresee an exponential demand for embedding financial products in newer ways, and with this collaboration, we aim to deliver that experience to our customers.” Yes Bank has also partnered with Microsoft for a mobile application. The lender is going to leverage Microsoft’s Azure stack for creating the app, which will give customers a host of services. The services include shopping, rewards, online payments, offers, and customised dashboards, in addition to traditional banking functions. Established by the entrepreneurs Priyanka Kanwar and Prabhtej Bhatia, Falcon is a financial technology company. The company provides a future-proof stack for building bespoke cards, accounts, payments, and lending products to financial institutions and tech firms. The leadership team of the company include the world’s largest financial players such as RBL Bank, Housing Development Finance Corporation (HDFC), Zeta, and Mahindra Comviva. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.