YES BANK brings Curated Banking & Technology Solutions for MSME Clients through YES SCALE program

YES BANK brings Curated Banking & Technology Solutions for MSME Clients through YES SCALE program

YES BANK brings Curated Banking & Technology Solutions for MSME Clients through YES SCALE program

In 2018, technology adoption defined the success of several Micro, Small and Medium Enterprises (MSMEs) in India. Cross-sectoral implementations boomed especially in key sectors like logistics & supply chain, health, agri-related industries, and others. YES BANK, which has been focusing massively on the technology adoption segment through a slew of digital innovations like instant OD availability, GST-based lending, etc. also launched an iinnovation and solutioning platform – YES SCALE last year. With this platform, YES BANK now extends its Knowledge Banking focus to providing Digital Transformation support to its key MSME partners through curated banking and technology solutions. This new initiative provides a new dimension to the bank’s initiatives to support startups working on technology-based solutions that focus on the sunrise sectors of the economy.

Scaling up woes of flourishing MSME entrepreneurs

As per the National Sample Survey (NSS), India has an estimated 633.88 lakh unincorporated non-agricultural MSMEs. 90% of these MSMEs come under the Micro sector. Other than contributing to India’s economic growth, the MSME sector creates 11.10 crore jobs in rural and urban areas. However, there are several challenges faced by the sector when it comes to formalisation, access to finance, availability of skilled manpower, access to the latest technology, etc. While there has been tremendous progress in rural entrepreneurship, scaling up the rural businesses continues to be a challenge. In such a scenario, platform aggregators are creating value for MSME businesses by putting together integrated processes.

The YES SCALE platform by YES BANK started off as an accelerator to enable the growth of promising startups in focused growth sectors.

The accelerator has been successfully providing cohort startups quicker go to market opportunity with industry leaders in just 15 weeks. Also, startups get to establish connect with strategic investors for growth funding. Today, YES SCALE has grown into an innovation and solutioning platform for co-creating solutions to support MSME business owners, promoters and entrepreneurs.

YES SCALE co-creates solutions for key MSME clients 

More than 20,000 startups have emerged in India in the last few years. As the 2nd largest startup ecosystem in the world, India has attracted numerous investors and collaboration opportunities for startups. While there has been a slew of startup solutions that are focused across sectors, dedicated solutions for MSME promoters and entrepreneurs have been limited. With a focus on using emerging technology and startup innovations to address this segment, the YES SCALE program has launched curated platform banking solutions for MSME business owners.

With innovative applications of emerging technologies like AI and IoT, the solutions help them manage their businesses.

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YES SCALE AnalytIQ: Enabling digital transformations with IoT and AI-based YES SCALE Product Suite

The YES SCALE AnalytIQ solution suite currently houses AI-driven end-to-end solutions with integrated banking for business promoters in logistics, education, and healthcare segments. To further bolster its pledge to support digitisation of MSMEs, the platform is also supporting industry associations & chambers to manage their fee collection from members, event participation, exhibitions, etc. as well as enhance inter-member commerce through these solutions. The entire product suite has been co-created with startup partners to address key business issues of MSME entrepreneurs while also providing end-to-end banking support for payment gateways, fund transfer, and e-collections.

Highlights of the YES SCALE Product Suite:

  • Logistics & Supply Chain

The YES SCALE Logistics platform focusses on ‘pricing and fleet transparency’, ‘route, delivery and fleet management’ and ‘intelligent warehouse management’. This product suite has been created using AI and IoT in partnership with five startups which includes FleetX, Edgistify, Addverb, Intangles, and others. With the YES SCALE product suite for logistics and supply chain, business owners, promoters and entrepreneurs will be able to optimise their vehicles, routing, driver management as well as end-to-end digitisation of their warehouse.

  • Healthtech

YES SCALE has partnered with technology solution startups addressing the needs for hospitals, pathology labs, diagnostic centres and doctors. End-to-end patient management including Remote Patient Monitoring, Digitalised & Secured Reports, Patient Awareness and Queue Management are solved through the Healthtech platform. Additionally, capabilities to manage doctors & staff, inventory management, sample tracking, department & ward management are critical because they impact revenue and profitability. Therefore, Advanced Lab Management and Hospital Management features are incorporated into the Healthtech product suite.

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Solution providers like Sidqam, Rakya, LiveHealth, Docengage and more are explored to be a part of the YES SCALE platform. Enhanced solutions around Clinical Decision Support System, Equipment Performance Analytics, Virtual Health Consultation, Point of Care Diagnostics and Robotics Assistance are also being explored.

  • Edutech

This curated platform solution allows universities, schools, and colleges to support administration across multiple schools, greater engagement with students & parents and management of staff. The YES SCALE Edutech solution provides three interfaces namely Birds Eye, School Connect and Parent Connect. The Birds Eye AI-based dashboard is designed for trustees and administrators to monitor finances, admin and progress of multiple schools and departments. The School Connect interface for schools helps to monitor enrolments, cross-discipline progress, teacher-student ratios as well as to create online curriculum, modules, and counselling sessions. The Parent Connect interface is designed for parents/teacher. It enables parents to monitor the progress of their wards and enlist for special online courses. In addition, the Parent Connect also includes features such as safety monitoring and tracking of school vehicles.

Finally, advanced solutions including Gamified Learning, AR/VR Learning Experiences Career Counselling, and Custom Linguistic Finance products are also being explored through YES SCALE for enabling YES Bank Clients.

While continuing its efforts to digitising the MSMEs, YES BANK will further create curated banking and technology solutions for other sectors including Agritech and Urbantech via its YES SCALE Platform.

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