NewsVoir | 25 Apr, 2017
Paisabazaar.com, Indiaâs largest financial marketplace for loans and Credit Cards, today announced a first of its kind strategic partnership with YES BANK, Indiaâs 5th largest private sector Bank. This is for the first time in the industry that a large financial marketplace has entered into a unique customer level alliance with a bank to offer conditionally approved loans* to their existing customers.
As part of the alliance, YES BANK will help Paisabazaar.com through the Bankâs advanced analytics and data mining capabilities to offer Paisabazaar.com customers with customized and conditionally approved offers across YES BANKâs retail lending products. This partnership would allow Paisabazaar.com customers to avail retail lending product offering from YES BANK without having to go through cumbersome paperwork process or visiting lenderâs office. This is being offered through a mix of using Big Data, Bureau performance & Internal analytics and digital innovations. YES BANK and PaisaBazaar.com aim to make the process of availing a loan easy and seamless and act as a one stop financial solution provider for all retail lending needs of the customer.
Speaking about the partnership, Pralay Mondal, Senior Group President, Branch and Retail Banking, YES BANK, said, âSince inception, YES BANK has been a pioneer in using technology and innovation to revolutionize the Banking experience in India. We are glad to partner with Paisabazaar.com, and are committed to providing a delightful customer experience based on our strengths in Customer Analytics and Big Data to offer a personalized banking solution to all customers. "
Speaking on the tie-up, Naveen Kukreja, Co-founder & CEO, Paisabazaar.com, said, âThrough tie-ups with the countryâs top-most banks and financial institutions, we are ensuring that customers with varied profiles and needs have a wide range of products to choose from on the Paisabazaar platform. We are excited to tie up with YES BANK, with whom we share a similar vision of providing customers with customized personal finance solutions through digital innovations. By offering YES BANK pre-qualified retail products, we are together ensuring that customers meet their lending needs in the best and quickest manner possible on the Paisabazaar platform.â
*Conditionally approved loans are offers made basis customers declaration. The final offer will be made post submission of the Application form
About YES BANK
YES BANK, Indiaâs fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionalsâ Bank of India with the long term mission of âBuilding the Finest Quality Bank of the World in India by 2020â.
Paisabazaar.com is India's largest online financial marketplace for investment and lending products. It currently offers all kinds of retail lending products such as personal loan, home loan, loan against property, auto loan, gold loan, education loan and credit cards. It also offers investment products, including mutual funds, savings account and fixed deposits on its platform.
Since its inception in early 2014, the company has marked a staggering growth and now has over 10 million visitors coming to its website each year. Paisabazaar.com currently partners with more than 75 partners across lending and investment categories with 100+ products on offer. On an annualized basis, it receives over 4 million enquiries and Rs. 2500 crore is disbursed through Paisabazaarâs marketplace platform.
The portal was recently conferred with Fintech Start Up of the Year & Best Innovation in Customer Experience Award at MoneyTech2017. Apart from this, the company also won Economic Timesâs "Best BFSI Brand Award" in 2016. Paisabazaar.com has been recognized as an âEmerging Brandâ at the prestigious CMO Asia Awards, as well as by Indian Brand Convention.
Paisabazaar is part of Policybazaar group, India's largest online insurance platform and is an InfoEdge (Naukri.com), Premji Invest, Tiger Global Management, Temasek, Steadview Capital, Ribbit Capital and Inventus Capital Investee Company.