Triple Point Technology, the leading global provider of cloud and on-premise Commodity Management software, announced today that YES Bank has licensed its Commodity XL for Precious Metals™ software to manage gold and silver bullion wholesale and retail distribution operations.
YES Bank is one of the top five largest private sector banks in India, and has been recognized as India’s fastest growing bank by several sources including Bloomberg UTV and Businessworld. The bank serves corporate and retail customers at over 380 branches in 275 cities.
YES Bank required a state-of-the-art enterprise solution to seamlessly manage all aspects of the precious metals supply chain while supporting extensive regulatory compliance requirements. The company selected Commodity XL for Precious Metals because it is the only end-to-end solution providing integrated management for supplier trading, inventory and consignment control, sales administration, and retail bank operations while delivering unparalleled compliance functionality. Commodity XL will help YES Bank meet domestic and international regulatory requirements by providing a real-time, enterprise-wide view of exposure and automatically generating compliance documentation.
Commodity XL for Precious Metals is the leading solution for the treasury bullion business, with more than 60 percent of all gold imported to India transacted through the solution. Triple Point bullion customers include Diamond India, HDFC Bank, ICICI Bank, Karur Vysya Bank, Kotak Mahindra Bank, State Bank of India, Su-Raj Diamonds, and the Indian Bullion Market Association (IBMA).