Indian private sector lender Yes Bank has unveiled a full-service banking proposition for tech or tech-enabled start-ups.
Known as Yes:Head-Startup, the new program will offer startups customised current account, innovative digital and cash management solutions, and trade-forex advisory services.
It will also offer dedicated start-up focused branches, personal banking products, credit cards, loan products (business and personal) as well as event partnerships.
Startups partnering with Yes Bank will gain access to the bank’s digital banking services including UPI Banking platform and API banking facility.
As part of the programme, the bank has joined forces with marquee service providers such as Indian Angel Network (IAN), T-Hub, Registrationwala, Awfis, ISDI and VC Circle.
Yes Bank MD and CEO Rana Kapoor said: “The wave of new age Indian entrepreneurship is characterized by Design, Innovation and Creativity-led Entrepreneurship. At Yes Bank, we believe that this phase of entrepreneurship in India can be furthered using the F.I.V.E. approach, which involves support at key life-stages of enterprises – Funding, Incubation, Vesting and Expansion.
“The ‘F.I.V.E.’ approach involves financial institutions at the fulcrum, delivering catalytic change by harnessing the power of entrepreneurship. The launch of Yes:Head-Startup reinforces our unstinted commitment to nurturing and promoting entrepreneurship and innovation in India.”