YES BANK and Open launch i-Mandate, an Agentic Payments Platform for recurring payments and collections

In September 2025, YES BANK and Open Financial Technologies launched i-Mandate, which is an agentic payments platform that is 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 errors. The platform’s Smart Protect capability can help to analyze historical account and transaction patterns, where enabled and with customer consent, to identify when funds are typically available and assess potentially more suitable payment dates or repayment accounts.

At the center of the platform is an AI payment agent that can interact with customers through voice and WhatsApp in 22 Indian languages. Rather than functioning only as a reminder or IVR system, the agent is also designed to understand a customer’s response, determine the next step within predefined rules, and assist with an authorized action during the interaction.

The platform’s architecture is built around three capabilities - Predict, Decide and Act. Institutions retain control over permitted actions, when they can be performed, customer-consent requirements, and additional approval or risk controls. i-Mandate also provides institutions with visibility into upcoming recurring collections, including expected successful payments, payments potentially at risk, the potential value of failures, customer actions taken before presentation, and expected collection and cash-flow positions.

Impact on the ICT Market

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.

In addition to that, 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, and engage customers to complete an authorized alternative action. Options can include changing the payment date, switching the repayment account, registering a new mandate, or making the payment immediately through an alternate method.

Impact on the Generative AI In Banking and Finance Market

The global generative AI in banking and finance market size is calculated at USD 1,676.02 million in 2025 and is predicted to increase from USD 2,229.10 million in 2026 to approximately USD 26,343.82 million by 2035, expanding at a CAGR of 31.72% from 2026 to 2035.

According to Precedence Research, the banking and financial services sector has serious concerns about fraud detection and prevention. For institutions looking to secure their systems and defend their consumers, the continuously changing nature of fraudulent operations presents major obstacles. The advanced methods that fraudsters use frequently make it difficult for traditional rule-based systems and static fraud detection models to keep up. The vast amounts of financial transactions and data created also make it challenging to manually spot fraudulent tendencies quickly. To improve fraud detection and prevention skills, it is necessary to examine cutting-edge technologies like generative AI.

The uses of generative AI in banking and finance are many and include several important domains. A key component of financial operations is risk assessment, which may be improved by creating artificial data that simulates prospective threats. Institutions are now better able to assess risks and reduce them. By using massive datasets of fraudulent and non-fraudulent transactions to train models, generative AI can help fraud detection systems.