YES BANK and Open launch of i-Mandate platform for recurring payments and collections
YES BANK and Open Financial Technologies have launched i-Mandate, an agentic payments platform designed to help banks, NBFCs, mutual fund houses and enterprises identify and address potential failures in recurring payments before a debit is presented. The platform was launched at the Global Fintech Festival 2026.
The platform combines predictive intelligence, decision-making and automated payment actions to move recurring payments beyond fixed-date instructions. It is initially aimed at loan repayments and EMI collections, with potential applications in mutual fund SIPs, subscriptions and enterprise recurring collections.
Traditional recurring payment systems generally rely on a predetermined debit date and account. If sufficient funds are unavailable when the debit is attempted, the payment can fail, creating additional collection work for institutions and friction for customers.
i-Mandate adds an intelligent layer before the payment is presented. It is designed to identify payments that may be at risk, determine an intervention based on institution-defined policies...
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