Serge Elkiner, CEO & Co-Founder With the emergence of mobile technology in the banking infrastructure, customer engagement and banking processes are becoming more user-friendly and meaningful. From the bank’s point of view, mobile banking reduces the cost of handling transactions by reducing the need for customers to visit banks for non-cash withdrawal and deposit transactions. Enabling customers to connect across entire customer lifecycle much comprehensively than before, YellowPepper, a pioneer in mobile banking, delivers smarter applications for banks, merchants, and retailers in today’s e-commerce world.
The company’s secure and powerful solutions ensure convenient, safe, and speed banking. YellowPepper’s feature-packed mobile payment, loyalty, and banking apps let customers transfer money at anytime and anywhere, obtain bank statements, and make e-bill payments. “Bringing all the banking services on to the mobile platform, we aim to deliver a secure and user-friendly mobile-banking experience,” says Serge Elkiner, CEO and Co-Founder. “We notify users regarding their trans-actions via text messages, through which they can keep a track of the fund transfer and check their ac-count balance anytime.” Besides that, YellowPepper also provides white label-mobile application development for the banks, which gives a rich user-experience, while accessing any and all of the banking services.
The company's white label mobile payment solution, YEPEX, is a user interface that enables banks to engage with their consumers at a different level in the transaction process. The app tokenizes the transactions, where a token is transmitted from the app to the point of sale in different form—a QR code, NFC or 6 digit dynamic token pin. “Most of the transactions that we see today are done through a 6 digit dynamic PIN,” points out Elkiner.
Bringing all the banking services on to the mobile platform, we aim to deliver a secure and user-friendly mobile-banking experience
On top of that, it lets banks and retailers promote their value added services. Today, the company has more than 60 banks and retailers as their clients in mobile banking sector and is processing close to 400 million transactions in a year.
Recently, YellowPepper sponsored Citi Mobile Challenge, a virtual developer challenge, inviting the most talented developers in the world to build and showcase innovative technology apps and solutions. It is intended to accelerate digital banking innovation by bringing together the most talented and creative developers and designers to create cutting-edge applications for Citi's digital banking platforms. As new technologies are introduced and adopted, it gives way to a cost-effective, software-based approach to easy banking.
With more than a decade experience in the mobile banking arena, YellowPepper has built very strong partnerships with local and international players in Mexico, Colombia, Ecuador, and Peru. “Great partnerships and knowledge of the local ecosystem is the key for us to expand in Latin America,” notes Elkiner. YellowPepper also focuses on robust security features, for higher value transaction, such as speech recognition and bio-metrics. In the future the company is planning to continue innovating on Data analytics and providing more feature-rich loyalty solution for banking and payments. “Today, we have 25 percent of our infrastructure in the cloud. The idea, by the end of this year, is to have a hybrid solution with 50/50 physical and cloud,” he adds. YellowPepper is looking forward to expand geographically and also to design and introduce innovative platforms in mobile banking that can make banking a delightful experience.
