IRIS App: YES BANK’s Collaborative Garage Model Powers Next-Gen Digital Banking Platform

IRIS by YES BANK, the mobile banking platform built on a cloud-native stack was launched in August 2023. The in-house developed app leverages synergies available from APIs, Microservices and workflows created across the bank’s digital ecosystem. The app, when launched, had 100+ features. 

The ‘All-in-One’ Retail Super App as per October 2025 (Q2, FY 2025-26 results), offers over 150 features, across payments, deposits, loans, credit cards, Liberalised Remittance Scheme (LRS), travel cards, investments, and more. The platform has recorded 42 lakh registered customers, with 49% monthly active users, who log in around nine times per month on average. Demonstrating growing engagement, the app’s customer base rose 6% quarter-on-quarter (QoQ).

According to the quarterly filings for Q2, 2025-26, Digital investment activity through IRIS also saw strong traction, with 54% of fresh mutual fund bookings taking place on the app—an 18% QoQ increase by value. On the lending side, 71% of credit card EMI conversions are now completed digitally, marking a 1% QoQ growth in share of business. IRIS is also driving operational efficiency, processing nearly 70,000 service requests daily, of which 92% are handled digitally.

FE CIO interacted with YES BANK’s CIO Mahesh Ramamoorthy and Chief Digital Officer (CDO), Naveen Chaluvadi on the journey of developing the IRIS app, the team involved and the challenges faced enroute.

What Challenges were encountered before implementing the IRIS App ? How were they solved ?

The IRIS implementation required coordinating multiple business, operations and technical teams across a large cross-functional project. Rather than viewing this complexity as a barrier, we leveraged it as a strength by aligning objectives and establishing an efficient working rhythm that maximized our collective expertise. We at YES BANK, transformed the complexity of implementing the IRIS App into a competitive advantage through our innovative garage model.

We converted initial challenges around availability and prioritisation alignment into an opportunity for strategic innovation. We pioneered a realignment approach using agile methodologies, introducing our signature working garage model, Scrum meetings, and consistent goal-based management reviews. These approaches created a blueprint for enterprise-wide digital transformation.

As IRIS marked our renewed foray into digital customer lifecycle management, we not only redesigned processes to align with current digital trends; we reimagined them to anticipate future customer needs. This required extensive collaboration and feedback from key stakeholders across the bank, ultimately creating not just a compelling customer proposition, but a new standard for how financial institutions can execute complex digital initiatives at scale.

What was the composition of the team that worked on the initiative ?

Given IRIS's influence across several key verticals, we assembled a cross-functional team spanning more than 10 product categories, services verticals, technical teams, CRM and marketing functions into a garage structure designed for swift and seamless execution. The core team consisted of 15 Digital Product / Business Managers / Technical leaders / Design experts governing the key philosophy of the product. We maintain a constantly available support structure of cross-functional teams, including marketing, control functions, service teams, and CRM. This helped us ensure smooth program execution and positive customer experiences.

Please discuss the major stakeholder cooperation received. How was it critical for the success of the implementation?

Despite initial challenges, we achieved strong synergy and cooperation across all relevant stakeholders. By attaching key members from each product, technical and support vertical to the IRIS Garage, we ensured quick turnaround of key activities while maintaining our ability to continuously innovate for our customers.

This resulted in a focused effort to ensure accuracy, precision and timeliness, with relevant features in sync with customer service and business objectives. The stakeholders’ cooperation represents a critical pillar of IRIS's success story, addressing one of the biggest challenges projects face, in financial institutions.

While major bottlenecks typically occur in cross-functional tasks, often creating bureaucratic execution hurdles, IRIS overcame these challenges through its garage model backed by top management and supported by key leaders across the bank. IRIS leveraged the strength of multi-functional knowledge, transforming what could have been organizational silos into collaborative innovation engines. This approach not only ensured project success but established a replicable framework that positions YES BANK as a leader in executing enterprise-scale digital initiatives without compromising operational excellence.

What will be the focus for the IRIS app for H2, 2025-26 ?

For the second half of this financial year, the IRIS app will introduce enablements and features strategically aligned with critical customer, business and compliance objectives.

Our foremost objective is ensuring alignment with the latest regulations across our entire product portfolio. This regulatory excellence is critical as these frameworks are designed to enhance customer banking safety and provide essential services that help customers safeguard themselves against potential risks.

Customer experience remains a fundamental driving pillar at YES BANK. We are enhancing easier access to credit line facilities, streamlining information updates, and introducing new products and services focused on simplified payments and investments. Additionally, we are further augmenting and personalising our financial management modules to enable customers track their finances and create wealth more effectively.