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Thursday, October 09, 2008

YES bank brings RSS-like feature to online banking

To add credit to its focus on innovative banking, YES Bank has launched a new online service called Money Monitor for its customers. The new online account aggregation service allows YES Bank customers to control and monitor multiple bank accounts from other financial institutions as well.
The platform, which can be accessed using a single sign on, was implemented by Yodlee Inc – a banking solutions company headquartered in Redwood City, California.   
For first time in India, through the online platform YES Bank customers will be able to manage their finances across multiple savings, loan, investment and credit card accounts, thus enabling them to assess their net worth regularly.  Customers can access, view, print and receive alerts of all their financial information including online banking, bill payments, brokerage, loans, credit cards, insurance, fixed deposits and reward points information from both YES Bank and other financial institutions though a single user interface. 
In order to register for the services the user has to enter the account information of all his/her accounts while signing in.
Demonstrating the new service at a press conference in Bangalore, Ravi Shankar, EVP & country head, Direct Banking & Cash Management, YES Bank said, “It is very important how services will differentiate and help customers choose a bank.” 

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