Yes Bank : “Money Monitor” Service

Any Indian Bank customer has multiple accounts, credit cards, FD accounts,

home loans, etc. Yes Bank wanted to give its customers a single view of their

finances i.e how much a person is spending and where. To meet this challenge,

Yes Bank has developed an integrated suite of online banking applications called

'Money Monitor'.

Customers can register for this after logging into net banking. Money Monitor

is available as a separate tab where the customer has the option of linking

his/her existing financial accounts by searching for the bank/financial

institution & selecting relationships (i.e. savings account, credit card,

personal loan, loyalty points, etc).

For each of the selected accounts, customer has to enter an user id/password

& set various alerts (threshold limits, frequency etc).

Using the details entered, the system tries to login to the account — once

that is done, the same credentials are used to provide updated information until

the login/password combination changes.

Money Monitor gives greater control to Yes Bank customers by giving them one

secure place to manage their money and bills. With a single click, customers can

immediately and automatically gain insight into their complete personal

financial picture, including detailed charts that reveal trends in savings,

spending, investments and budget variance.