YES Bank is India's fourth-largest private sector bank and is the only Greenfield Bank license awarded by the RBI in the last two decades. On the occasion of its 14 years of operations, in an exclusive chat, Republic TV spoke to the bank's Senior President and Head, Retail Marketing and Brand Management, Rajat Mehta.
In its pursuit to be the country's finest quality large banks by 2020, YES Bank embodies the values of hard work, perseverance and self-belief, which is ever-present in every modern Indian citizen. The foundation of their values lies in the name, which underlines the qualities of trust and the promise to deliver an unprecedented banking experience to all their customers.
Giving insights on the brand ethos, Rajat Mehta explains: "Yes Bank, the brand itself is of optimism and positivity. What it really means that as a bank today, we are representatives of Indians who are progressive and who want to see their lives improve."
India Bole Yes is a movement that strives to support Indian consumers in their journey of achieving their goals, dreams and their progress. Explaining what the campaign wishes to communicate, he believes that it associates with the spirit of a new and optimistic India.
"The campaign is essentially about products, but it also talks about how India's today who achieve growth, development and better solutions by giving away past practices where aren't prudent anymore," he said.
According to Rajat Mehta, YES BANK adopts the best international practices, maintains the highest standards of service quality, and offers niche banking and financial solutions to all its valued customers. Speaking of which, they are also proud to be the first bank to offer a higher interest rate of 6 % on a savings account.
Since its inception, YES BANK has followed an innovative model for its branding and marketing activities. Its recent marketing campaign - YES Money Plant draws a parallel between the growth of money with the growing plant, through which it seeks to invite potential customers to bank with YES BANK.
"We built on this consumer insight, that a money plant in Indian tradition epitomizes growth and prosperity, and someone who gets a money plant would never give it away. We literally took the tick out of the logo and ensured that the money plant is growing around the tick, which means your money as a consumer is growing around YES Bank."