YES Sahaj
Ultra low - cost mobile banking kit
Surendra Shetty
President & Deputy Chief Information Officer, YES BANK
The Unbanked Indians
Financial Exclusion in India - The Biggest Failure of ‘India Shining’
64% Indians lack access to saving account,
87% Indians lack access to ATMs
73% farming household lack access to institutional credit
Lack of commercially viable & scalable business model to cater to the
financially excluded
Conventional banking approach faces challenges such as huge infrastructure
set-up cost, high operating cost and lack of risk mitigation measures
Mere ‘stripping down’ of conventional products also doesn’t work as banking
needs of target segment are distinctively different
Lack of appropriate & enabling technology solutions to reach out to
‘The Next Billion’ customers
Meeting cost and outreach requirements is challenging
Lack of innovation in leveraging technology
In its endeavors of Frugal Innovations for Financial Inclusion (FI4FI), YES Bank has
developed a Mobile Banking Platform – YES Sahaj, in collaboration with DruvTech
Systems
YES Sahaj
The Kit
Low end mobile handset
Bluetooth thermal printer synchronized with
the mobile handset
Technology
GPRS enabled mobile based online application
Real time data transfer to the intermediate
Server
Advanced security features like IMEI number
based pairing of all peripheral devices, SIM
card validation, login password, default GPRS
security check, HTTPS protocol enabled
database
Usage
Doorstep collection of Savings and Loan repayment
In field cash withdrawal using the Magnetic Strip reading slot on the printer
Accounting module for Self Help Group (SHG) & record management
Platform for Remittance origination
Instantaneous printed receipt with SMS alert
Contd…
Uniqueness of the solution
Cost Efficient
Real-time tracking of transaction
Complete Banking Solution
Risk Mitigation : highly secured platform
Multiple acknowledgement facility: Instantaneous OTP generation
facility, printed receipt and SMS alert
System scores over other Hand Held Devices in all aspects – functional,
operational and cost effectiveness
Transaction recorded
As of February 29, 2012, YES Bank has recorded 1,06,575 transactions
with an aggregate value of Rs. 7.66 crores through YES Sahaj
Schematic Presentation
Transaction Flow
1. Login
2. Transaction
• Service Officer logs in the device
• Downloads the data for the day through GPRS
• Carry out customer transaction
• Provide transaction receipt
• Generate End of Day report
3. Reconciliation • Reconciliation with backend report
1. Login
Visits Customer in
the field
Transaction request
entry
Transaction receipt
and confirmation
SMS
Transaction
request
Data
Validation
Telecom
(GPRS)
Customer
Service Officer
Confirmation
SMS
Back end
Server
2. Transaction
Logs on the mobile device
Telecom
(GPRS)
Transaction
Kit
Download customers’ data for
the day
Data Sent to
Mobile
device
Back end
Server
Data sharing
with back end
Server
Service Officer
3. Reconciliation
Generate End of day report through
Mobile-Printer Device
EOD report
generation
Reconciliation
Reconciliation with YBL
database
Special Recognitions
Frugal Innovations for Financial Inclusion (FI4FI)
Certificate of Appreciation
Top 50 Financial Inclusion Projects in India (2011)
Frugal Innovations for Financial Inclusion: Yes Sahaj Mobile
Banking Platform