Brands
Ola partners with PhonePe for cab bookings
MUMBAI: Flipkart-owned UPI-based payment platform PhonePe has partnered with taxi aggregator Ola. With this tie-up, users will be able to book an Ola cab using the PhonePe app.
With both the companies already catering to a large user base, this also becomes the first large scale implementation of AutoPay (through standing instructions) for ride bookings in India.
Phone Pe co-founder and CTO Rahul Chari says, “With this partnership our users can enjoy the ease of using their preferred ride sharing app from within PhonePe while being assured of the reliability and integrity of their payments. Ola’s scale and reach, topped with our Auto-pay feature will enable greater convenience and control to our users while making payments seamless.”
Ola co-founder and CTO Ankit Bhati thinks that duch partnerships drive the vision of Digital India, getting more users to experience the benefits of online services.
The Ola micro-app is also a big technology milestone for PhonePe as it has been built ground-up by the PhonePe team using the Ola developer platform. It is the first of its kind mapping application using react native that provides not just location but navigation with directionality, matching the experience of native iOS and Android maps.
This partnership is part of PhonePe’s vision of being an open payments ecosystem, enabling businesses of all sizes to build and deploy apps on its platform with a unified login and payments experience for its users.
PhonePe is also adding partners in the travel, hospitality, ticketing and food segments to its micro-app platform.
Brands
YES Bank appoints S Anantharaman as chief risk officer
Former Jio Financial Services group chief risk officer takes charge of enterprise-wide risk at the embattled private lender
MUMBAI: YES Bank is not taking chances with risk anymore. The private lender has appointed S Anantharaman as its chief risk officer, a hire that signals the bank’s continued effort to rebuild credibility and tighten the controls that once famously slipped.
Anantharaman arrives from Jio Financial Services, where he served as group chief risk officer and built a risk management architecture spanning lending, payments, insurance broking and asset management from the ground up. Before that, he held the chief risk officer role at Bank of Baroda and senior leadership positions at HDFC Bank and L&T Finance Holdings. Three decades in banking and financial services, in other words, with scars and qualifications to match. He is a chartered accountant and a CFA charterholder.
At YES Bank, his brief is considerable. Anantharaman will oversee the bank’s entire enterprise-wide risk framework, covering credit policy, market risk, operational risk, information security, data governance, analytics, model governance and data privacy. It is, in short, every lever that matters when a bank is trying to prove it has grown up.
YES Bank’s turbulent past needs little rehearsing. What it needs now is exactly what Anantharaman has spent thirty years building: the kind of risk culture that stops problems before they become headlines. The appointment suggests the bank knows it.
