Digital Innovation Strategy
YES BANK wanted to create an innovative customer loyalty platform with exciting cashback offers on best brands in the online and offline space. The bank created a fully automated program offering the users a hassle-free experience with offers being personalized to their unique needs; no coupon codes and merchant integrations needed.
With this platform, YES BANK cardholders receive personalized offers via SMS, e-mail and mobile app notifications on the basis of their shopping patterns. When they shop using their YES BANK debit card, they will get up to 25 percent cashback. The credit of the cashback to YES BANK Savings Account and YES PAY Wallet is also completely automated right from tracking to settlement.
This is first-in-the-industry initiative capable of giving cashback offers on best brands in the online and offline space. Analytics-based offer recommendations and real-time analytical tracking of transactions ensured a smooth experience to the customers. It facilitated promotion of YES BANK’s digital channels and instruments like debit cards, prepaid cards, credit cards, virtual cards. In addition, the project supports Government of India’s drive to move India towards a ‘less-cash’ economy by encouraging cashless spending.