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February 22, 2010

Yes Bank Selects Cordys To Automate Business Process Management

Yes Bank, an Indian private sector bank, has entered into a strategic partnership with Netherlands-based Cordys, a supplier of software for business process innovation, to automate, manage and improve key business processes.

By CBR Staff Writer

The Cordys Business Operations Platform, with its business process management suite (BPMS) functionality, will provide several key features to Yes Bank including business focused BPMS for process automation leading to greater visibility and control to make real time decisions, process-driven and SOA-based integration of multiple systems and people across the value chain, supporting any type of workflow, continuous process improvement with business activity monitoring and composite application framework to enhance business-IT alignment.

Rana Kapoor, founder, MD and CEO of Yes Bank, said: “The partnership with Cordys will enable Yes Bank to provide a robust platform to achieve continuous process improvements by building solutions that embed business rules, promote visualization of processes and leverage real-time technologies. This will further enhance flexibility, agility and inter-operability of the bank’s current application systems.”

Jan Baan, founder, chairman and CEO of Cordys, said: “In today’s economy, business processes extend beyond departments and companies. Collaboration in the value chain requires a BPM approach which provides flexibility, security and the possibility to adopt the online channel for greater speed of change and a superior product offering.”

Umesh Jain, president and CIO of Yes Bank, said: “The Cordys platform will enable us to achieve enhanced customer service through a significant reduction in turn-around-times. The SOA-based integration with other systems and process-driven improvement of our business operations across the entire value chain provided by Cordys will result in enhanced collaboration between teams and better productivity.

Narendra Shukla, VP of Cordys in Asia, said: “After tasting success at some of India’s largest conglomerates, Cordys is now growing market share in the Indian Banking and Financial Services Industry. This partnership sets a paradigm for the adoption of process-based innovation using Cordys technology.

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