YES BANK awarded the prestigious Golden Peacock Award 2017 for Innovative Product / Service

Mumbai, April 25, 2017: YES BANK, India’s fifth largest private sector Bank, has won the prestigious ‘Golden Peacock Innovative Product / Service Award 2017’ for its innovative mobile technology product, SIMsePAY at the Dubai Global Convention 2017 for the 27th World Congress on Leadership for Business Excellence & Innovation and Presentation of Golden Peacock Awards.

The award was presented by His Highness Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture & Knowledge Development, and His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, CEO and Chairman, Emirates Group.

Each application was assessed by an Assessment Group comprising of Quality, Business Excellence and Training experts. Applications were reviewed by assessors independently, and later discussed by the committee for normalization of reviews.

SIMsePAY is a unique innovation that allows any account holder to do money transfers, pay utility bills and other mobile payment services, without the need for smart phones or internet. The offering is based on a ‘sim-sleeve’ technology, in association with Taisys Technologies.

Commenting on this achievement, Ritesh Pai, Chief Digital Officer, Digital Banking at YES BANK, said: “We are honored to receive this prestigious recognition. At YES BANK, it has been our constant endeavor to bring the unbanked and under-banked populace into the formal banking sector. This award is a significant affirmation of our uncompromising commitment towards the same. Through SIMsePAY, the aim is to effectively aid our country’s ongoing transition to a ‘less-cash’ society, and eventually a ‘cashless India’.”

The Golden Peacock Awards, instituted by the Institute of Directors, India in 1991, are regarded as a benchmark of Corporate Excellence worldwide. The Golden Peacock Awards Secretariat receives over 1,000 entries per year for various National and Global awards, from India and over 25 countries worldwide. Justice PN Bhagwati, former Chief Justice of India, is the Chairman Emeritus of Golden Peacock Awards, and Hon'ble Justice MN Venkatachaliah, Chairman, Institute Of Directors and former Chief Justice, Supreme Court of India is the Chairman of the Awards.