Sponsor bank tracked in the Embedded Finance Index. Named by 6 companies, most often as their sponsor bank.
TypeSponsor bank
Used asSponsor bank, Banking-as-a-Service, Card issuer
Rank#35 of 199 in Sponsor Bank
Buyers6 companies
HeadquartersMumbai, Maharashtra, India
Founded2003
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How companies use Yes Bank
6 companies name Yes Bank in their stack. The most common role is sponsor bank (6). A company can use the same bank for more than one thing.
Background · from Yes Bank’s own dossier
Founded in 2003 as an Indian private-sector bank focused on corporate and MSME banking, Yes Bank grew rapidly under founder Rana Kapoor into one of India's largest private banks before a governance and asset-quality crisis triggered an RBI-led reconstruction in March 2020, with SBI and other lenders recapitalizing the bank. Since then, Yes Bank has rebuilt around retail, MSME, and digital-first products — most visibly a UPI/credit-line push (Vegapay partnership 2024), GST-data-driven MSME lending (YES GST FinFast 2025), and a public API developer portal designed to embed the bank's rails into third-party fintechs.
Latest round: IPO 2005 (BSE: 532648, NSE: YESBANK)
Recent developments
- 2024-11Partnered with Vegapay to launch 'Credit Line on UPI', a hyper-configurable platform for offering customized credit programs via UPI. source ↗
- 2025Launched YES GST FinFast — working-capital loans up to ₹3 Cr for MSMEs underwritten off GST data, bank statements and ITR-V. source ↗
- 2023-01-01Partnered with Falcon to tap into embedded finance market source ↗
Who uses Yes Bank
6 companies disclose Yes Bank in their stack
Buyer mix · 6 of 6 classified
Fintech / Cross-border payments · 1Fintech / Investment · 1Fintech / Payments · 1Fintech / SMB banking · 1Fintech / Spend Management · 1Infrastructure / BaaS · 1
What the disclosures say
Groww“Groww Pay Services Private Limited operates as a UPI Third-Party Application Provider authorized by NPCI, with Yes Bank Limited as the Sponsor Bank.”
Zaggle“Zaggle issues prepaid and corporate cards via partner banks; see https://www.zaggle.in/solutions/cards-and-payments and terms-and-conditions naming YES Bank, NSDL Payments Bank, and Zokudo (Premium E-business Ventures) as PPI issuers.”
View source · zaggle.in ↗
Decentro“Decentro docs describe Connected Accounts, Virtual Accounts, Ledgers, and a Co-branded Cards & Wallets product suite; TechCrunch coverage names partner banks Axis, ICICI, Kotak, Yes Bank and networks Visa/RuPay.”
Briskpe“About page: 'BRISKPE partners with YES Bank as OPGSP (July 2023)'.”
RazorpayX“razorpay.com/x/ — 'all-in-one business banking suite'; razorpay.com/docs/x/capital/corporate-cards/ — 'Razorpay Corporate Cards are currently offered in partnership with Yes Bank and RBL'”
Razorpay “RazorpayX Corporate Cards press release (June 2025) explicitly names Mastercard, RBL Bank and YES Bank as issuing partners.”
The complete buyer list and each company’s full embedded-finance stack are in the
Embedded Finance Index report. Represent Yes Bank? Claim this profile above to unlock your own full list.
Sample distribution — illustrative only, not Yes Bank’s actual buyers.
🇺🇸 United States · 40🇬🇧 United Kingdom · 22🇩🇪 Germany · 14🇮🇳 India · 12🇫🇷 France · 9🇸🇬 Singapore · 7🇦🇺 Australia · 6🇧🇷 Brazil · 5+2 more
What Yes Bank runs on · from its own dossier
The third-party providers Yes Bank itself discloses, layer by layer — the vendor as a buyer. Distinct from the companies above that disclose Yes Bank.
Other banks in Sponsor Bank
Other banks named for Sponsor Bank in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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<img src="https://www.embeddedfinanceindex.com/api/badge/yes-bank/install" width="1" height="1" alt="" style="display:none">Yes Bank — frequently asked
Which companies use Yes Bank?
6 companies are linked to Yes Bank in the Embedded Finance Index 2026, through their own public disclosures or Yes Bank's published customer list, including Groww, Zaggle, Decentro, Briskpe, RazorpayX and Razorpay.
What do fintechs use Yes Bank for?
Yes Bank is a sponsor bank. Companies in the Embedded Finance Index 2026 name it as their sponsor bank (6), banking-as-a-service (3) and card issuer (3).
Who founded Yes Bank?
Yes Bank was founded by Rana Kapoor and Ashok Kapur and is founded in 2003, headquartered in Mumbai, Maharashtra, India.
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