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    Yes Bank: Competitive Strategy of Late Entrant: Vision

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    Amita Singh
    Yes Bank entered the Indian banking sector in 2004 as a new private bank, though the sector was already crowded. It differentiated itself through a knowledge banking approach focused on emerging sectors, an emphasis on technology and outsourcing, developing talent through training programs, and promotion through client acquisition and branch experience rather than advertising. The bank has seen fast growth and expansion across India despite being a late entrant.

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    Yes Bank: Competitive Strategy of Late Entrant: Vision

    Uploaded by

    Amita Singh
    269 views3 pages
    Yes Bank entered the Indian banking sector in 2004 as a new private bank, though the sector was already crowded. It differentiated itself through a knowledge banking approach focused on emerging sectors, an emphasis on technology and outsourcing, developing talent through training programs, and promotion through client acquisition and branch experience rather than advertising. The bank has seen fast growth and expansion across India despite being a late entrant.

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    Yes Bank

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    Yes Bank entered the Indian banking sector in 2004 as a new private bank, though the sector was already crowded. It differentiated itself through a knowledge banking approach focused on emerging sectors, an emphasis on technology and outsourcing, developing talent through training programs, and promotion through client acquisition and branch experience rather than advertising. The bank has seen fast growth and expansion across India despite being a late entrant.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    269 views3 pages

    Yes Bank: Competitive Strategy of Late Entrant: Vision

    Uploaded by

    Amita Singh
    Yes Bank entered the Indian banking sector in 2004 as a new private bank, though the sector was already crowded. It differentiated itself through a knowledge banking approach focused on emerging sectors, an emphasis on technology and outsourcing, developing talent through training programs, and promotion through client acquisition and branch experience rather than advertising. The bank has seen fast growth and expansion across India despite being a late entrant.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Yes Bank: Competitive Strategy of Late Entrant

    VISION:
    To create commercially viable financial institution that incorporates sustainable development within core business functions. Maintains sustainability through multi-stakeholder engagement both internally & externally Engage in strategy development ( in thought) & execution in action

    MISSION:
    To build the finest quality brand in banking. We dont want to be a production factory. We want to be good distributors.

    YES BANK:
    One of the new generation private banks, entered Indian market in 2004 when the banking sector in India was already overcrowded by no. of public banks Inspite of late entrant grew at fast pace & extended its operations all over country The Yes bank was promoted by Rana Kapoor & Ashok Kapoor with assistance from robobank The bank went public in June 2005. IPO was oversubscribed 30 times In December 2006, YES BANK was rated 3rd best bank in India by Business world

    Yes Bank segmentation:


    Corporate & Institutional banking Retail banking Business banking

    Differentiation Strategy:
    The success of Yes Bank is attributed to its differentiating strategy The bank differentiated itself on 4 basic parameters Knowledge banking approach Human resource Technology Promotion

    KNOWLEDGE BANKING:
    Yes Bank decided to follow an innovative approach to break into heavily cluttered Indian commercial banking system. Knowledge banking a unique method of acquiring customer & retaining them The bank provides specialized service to emerging sectors of the economy through better understanding of its clients business & industry. The bank focused on providing the customer with specialized banking service depending upon their requirement. The bank identified some sectors of economy which had growth prospect: Food & agribusiness Infrastructure business Life science & biotechnology Telecommunication IT Media & entertainment Real estate

    TECHNOLOGY:
    Yes bank was founded with the aim of providing the world class customer service to the customer using latest technology in the industry The bank provided multi technology-enabled channels which included Corporate internet banking ATMs Mobile banking Phone banking This was done for customer convenience. Bank entered strategic parternership with Gartner inc. to formulate IT policy of bank Price Water House coopers to facilitate confirmation of policies & process with ISO & SIX SIGMA norms

    Yes bank FLEXCUBE to provide key banking solution to its customers Yes bank was pioneer in total IT outsourcing in banking sector. Outsourcing was with Wipro InfoTech. Bank believed in outsourcing activities to focus on core tasks to achieve its objectives.

    HUMAN RESOURCE:
    Top management team very experienced Higher pay to retain talent 5% executive ownership clause

    Key initiatives by bank to recruit & train manpower


    Yes entrepreneur in action

    Yes professionals entrepreneurship programme

    Yes mentor

    Yes school of banking

    Yes university & school relations

    PROMOTION:
    Not much emphasis on advertising Went for management led client acquisition (for corporate & wealth management clients) Provided delightful banking experience through layout of branches In introductory TV ads & print ads, bank showed growth stages of money plant Plans to focus on educating customer on risk issues thorough open house forums

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