• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Bangalore, Sept. 30 Private Sector bank YES Bank said on Tuesday it would offer account aggregation services to its customers, who would be able to access their other financial information on their YES Bank’s online banking portal.

Built on Yodlee Technology Pvt Ltd’s patented technology, it would enable customers to access all their financial information including accounts with other banks, credit cards, insurance through a single interface. It would provide the convenience of remembering only a single Internet banking password to access multiple account information.

At the sidelines of a press briefing to announce the new service, Mr Ravishankar, Executive Vice-President and Country Head, Cash management and Direct Banking, YES Bank, said the US financial meltdown would impact the Indian economy.

He said the Indian banks would not aggressively pursue their growth plans. They would be moderate in their approach. They are not insulated any more, he added.

Mr R. Subramaniam, Vice-President & Managing Director, Yodlee, which has US investment banks Merrill Lynch and Wachovia as its customers, said it is too early to say what the impact would be on Yodlee.

Yodlee also has Bank of America and Citi Group as its customers, Mr Subramaniam said. “We will have to wait and see,” he added.

YES Bank is Yodlee’s first customer in India. At present, the company intends to offer only its account aggregation solution to the Indian banks. Mr Subramaniam said the company was in talks with other private and public sector banks.

Yodlee offers bill payment and fund transfer solutions to its customers in the US, its largest market. The company also has a presence in the UK market.

More Stories on : Software | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line