By: Shaheen Raaj
YES BANK SIGNS MOU WITH KIA MOTORS
Yes Bank, India’s 4th largest private sector Bank, recently signed a Memorandum of Understanding (MoU) with Kia Motors, world’s 8th largest automaker, to enter into a strategic financing partnership, making itone of the 1st ever Indian banks to become their preferred financier. The benefits of this partnership will be extended to the entire auto value chain, Auto dealers as well as customers, covering multiple car models offered by Kia Motors India. Kia Motors is all set to enter Indian market by 2nd half of 2019 with an all-new mid-SUV which was previewed at 2018 Auto Expo. The partnership will utilize Yes Bank’s capabilities to provide a comprehensive range of attractive financing options for Kia Motors’ customers in India, helping support the company’s continued growth & expansion plans in different geographies. Through the partnership, Yes Bank will be able to provide end to end financial solutions to Kia Motors India. The Bank will offer financing & banking solutions to both the Kia car dealers with products such as Term Loans, Cash Credit, Inventory funding et al, as well as the end consumers. The Bank will work towards satisfying the customers’ needs through auto loans with easy monthly repayment plans best suited for individual consumers. Moreover, Yes Bank will also leverage its chat bot based platform, YES mPower bot, allowing it to deliver superior customer experience with 1 min loan approval across all the retail touch points. The partnership will focus on providing easy financing opportunities for the dealers & also make it easy for eligible buyers to acquire brand new Kia vehicles. Besides providing financing solutions, Yes Bank will also work towards developing exclusive digital banking solutions for Kia Motors in India.
