“Breakthrough and disruptive innovations with thousands of brightest young minds across the world striving to redefi ne boundaries of fi nancial service sector, is what is Yes Bank’s Transformation Series about.” BY PRATIKSHA KAPOOR
The financial services industry, in particular, has been transformed through innovation and technology. As pioneers of digital banking in India, YES BANK’s significant mission emphasizes critical pillars of innovation and technology. The Transformation Series champions their ethos of innovation and creativity and highlights the passion to nurture and promote the talent inherent in brightest young minds of the country. The initiative was launched in 2010 to provide a platform for aspiring young leaders across the world to acquire innovative thinking, creative skills and apply their acumen and creativity to real world challenges.
Using a judicious mix of digital and social media and with a strong focus on innovation, the Transformation Series in its three editions has engaged more than 13,000 students around the world.
EXHILARATING THE JOURNEY WITH SHARPEST YOUNG MINDS
Set against the backdrop of the global financial crisis and the domestic market downturn, the Transformation Series- Edition I, required India’s best minds to chart the strategy of a 6 year old bank which had displayed great agility in responding to the financial crisis. The strategy would have to focus on
Transformation Series: Edition II built on the success of the inaugural edition of the Transformation Series, witnessed participation from more than 2000 participants. The journey of the now 7 year old bank was continued with the focus now shifting to Sustainable Financial Inclusion. The challenge was to provide the launch strategy of Sustainable Financial Inclusion
The Financial service industry is no exception to the wave of disruptive innovations. Rapidly evolving technology and the rampant e-commerce industry pose a serious question to banks and financial service companies
India’s future as a socio economic powerhouse lies in realizing the untapped potential of youth Rana Kapoor Yes Bank CEO & MD
– “To innovate or be the fastest adopter” – INNOVATION or INNOVATION which compiles the Third Edition: YES BANK Transformation Series. It was centered on innovations in 3 key areas
Payments – Enabling customers to receive & pay money conveniently
Financing- Facilitating investments/expansion by making money (or credit) available
Big Data & Analytics driven customer relationship management. This was an opportunity for bright young minds to apply their acumen and work alongside YES BANK management in short but tricky business challenges in the bank. The series brought together India’s finest innovators and entrepreneurs in free-wheeling interactions with India’s brightest young minds.
In a grueling battle of wits the top 11 teams presented their innovation strategies to the experts of innovation and entrepreneurship in the final edition. Six demanding hours of sweat and toil, unveiled the OpportuNITIE from NITIE Mumbai as winners at a glittering prize distribution by the esteemed Jury comprising of Dr. Bibek Debroy, Chitra Ramkrishna, Praveen Sinha, Dr. Gita Piramal, Ashish Hemrajani, Chaitanya Kamat, Dr. Bhaskar Das, Ajai Kumar and Sundeep Khanna.
Transformation Series came out with several innovative ideas in digital payment space, personal financing, SME financing , financial inclusion etc. which can form basis of action points for YES BANK. These ideas can make a strategic difference in enhancing value and efficiency and delivering better customer services. As such Retail Banking, SME Business Banking, FARM and Agri Banking may use these ideas as part of their strategic thought process in building up their respective portfolios exponentially. We can surely expect some of the ideas will prove real game changers. In a world of dynamism and challenges, we plan not be at the end of any tradition, we might be at the beginning of one.
The journey will continue with the YES BANK Transformation Series 2016 – a new quest and a new challenge for students across the world