YES BANK has secured several prestigious recognitions at The Asian Banker’s Choice Awards and The Asian Banker Transaction Awards 2019, held recently in Thailand, reaffirming its leadership in trade finance and transaction banking.
The bank received the following awards:
• Best Trade Finance Bank in India – The Asian Banker Transaction Awards 2019 (for the 5th consecutive year, 2015–2019)
• Best Financial Supply Chain Management in India – for the YES BANK–DTDC Express Digital Wallet Solution
• Best Corporate Trade Finance Deal – for the YES BANK–Welspun Global Brands Ltd Paperless Export Solution
YES BANK was recognized as the Best Trade Finance Bank in India for its continued growth in business performance and its strategic commitment to delivering value-accretive trade finance solutions. The bank has played a significant role in India’s evolving trade finance landscape by supporting large supply chain partners and introducing pioneering digital capabilities. These include seamless cross-border transaction processing, early adoption of the BOLERO platform for electronic Bills of Lading, and leveraging distributed ledger technology (DLT) for supply chain financing and cross-border remittances.
The award for Best Financial Supply Chain Management acknowledged the bank’s integrated digital solution for DTDC Express, which helped the logistics provider drastically reduce Days Sales Outstanding (DSOs) from franchisees, strengthen its working capital cycle, and streamline reconciliation processes.
The Best Corporate Trade Finance Deal award recognized YES BANK’s first-of-its-kind fully digital export documentation solution for Welspun Global Brands Ltd. This initiative eliminated the need for physical document exchange and reduced turnaround time from 10 days to real-time, enhancing the efficiency, security, and cost-effectiveness of cross-border trade settlement.
Commenting on the recognitions, Asit Oberoi, Senior Group President, Global Head & Chief Experience Officer, Transaction Banking Group, YES BANK, said, “These prestigious recognitions from The Asian Banker are a true testament to the Bank’s leadership in Transaction Banking and Payments, backed by strong innovation and technology frameworks. We are proud to be at the forefront of such transformative solutions along with forward-looking clients like DTDC Express and Welspun Global Brands.”
The Asian Banker Awards are regarded as among the most credible and rigorous honors in the financial services sector across the Asia-Pacific region, determined through a comprehensive three-month evaluation process using a transparent scorecard methodology.
