@ Vikas Sharma | Sr Journalist
Mumbai, June 07, 2019: YES BANK has won multiple awards at The Asian Banker’s Choice and Asian Banker Transaction Awards 2019 programme recently held in Thailand.
✓ Best Trade Finance Bank in India – The Asian Banker Transaction Awards 2019 (5th year in a row)
✓ Best Financial Supply Chain Management in India – YES BANK and DTDC Express Digital Wallet solution – The Asian Banker Bankers Choice Awards 2019
✓ Best Corporate Trade Finance Deal – YES BANK and Welspun Global Brands Ltd Paperless Export solution – The Asian Banker Bankers Choice Awards 2019
YES BANK has been awarded the Best Trade Finance Bank in India for the fifth year in a row (2015-2019) for achieving significant growth in terms of business performance and a testimony to the Bank’s strategic focus on consistently delivering value- accretive Trade Finance solutions across its client base. The Bank has contributed significantly to India’s dynamic trade finance ecosystem and demonstrated strong ability to cater to large supply chain partners. Its innovations amongst private banks include propagating fully digitalized solutions include Seamless processing of cross border trade transactions, its adoption of the BOLERO platform on the electronic Bill of Lading (e-BL) processing and its use of DLT technology for Supply Chain Financing and cross border remittances.
YES BANK has been awarded the Best Financial Supply Chain Management in India for developing an integrated solution allowing DTDC Express to substantially reduce their Days Sales Outstanding (DSOs) from franchisees hereby providing positive impact to the working capital cycle besides streamlining their re-conciliation process.
YES BANK also bagged the Best Corporate Trade Finance Deal award for the unique first-of-its-kind digital solution involving end to end electronic presentation of export documents. The solution has enabled Welspun Global Brands Ltd to eliminate the need to exchange physical documentation, thereby reducing turnaround time from 10 days to real-time for all parties involved, while establishing a precedent for faster, secure, cost efficient settlement of cross-border trade, resulting in optimization of working capital.
Speaking about the awards, Mr. Asit Oberoi, Senior Group President & Global Head & Chief Experience Officer, Transaction Banking Group, YES BANK said “The prestigious recognitions from The Asian Banker, Media & Research house from Singapore, are the true testament of the Bank’s leadership in the Transaction Banking and Payments domain – backed by robust innovation and technology frameworks. I am also particularly pleased that this is also the 5th successive year where YES BANK’s expertise in this space has been recognized as the Best Trade Finance Bank in India. YES BANK is proud to be at the forefront of such innovations along with its clients like DTDC Express and Welspun Global Brands Ltd”
The Asian Banker Awards are widely acknowledged by the financial services industry as the highest possible accolade available to professionals and banks in the industry as recognized in the Asia Pacific region. A stringent three-month evaluation process based on a balanced and transparent scorecard had been used to determine the winners.