Yes Bank CMO on why the bank chose to sponsor India’s Olympic contingent as its banking partner

On its fourth foundation day (March 18), Yes Bank revealed a partnership with the Indian Olympic Association and announced itself as the banking partner for the Indian Olympians on their way to participate at the Paris Olympics slated for July-August this year.

The financial institution, during the event, said it will offer the Olympians an exclusive 'YES Glory' savings account.

The account comes with tailored benefits which include a complimentary Welcome on-board Taj voucher, free orthopaedic consultations, complimentary medical insurance coverage, and zero cross-currency mark-up on international spending. Also, the Olympians gain access to a YES Glory Gold Debit Card.

Access to the account is only for the athletes participating in the Olympics. However, Yes Bank chief marketing officer Nipun Kaushal says this benefit will soon extend to all Indian athletes.

We (afaqs!) caught up with him after the event for a short conversation.

Edited excerpts

2024 is all about events including the Indian Premier League, and the ICC Men’s T20 Cricket World Cup, IPL why choose the Olympics?

We have a lot of people who are sponsoring cricket and we in the past have also done that. As a brand, we’re always focused on working with the country and trying to pick up sports which are from the grassroots level.

Rising from the grassroots kind of stories often come up during events like the Olympics, with this association are you pushing the brand towards the Tier II, Tier III, and rural markets?

Let us not mix this with the business. The objective is much larger from the brand’s perspective. When doing the association, we thought of more from the point of view of a brand. What is our personality as a brand, who we are…

When we launched Life ko Banao Rich, it was not to push in terms of okay, ‘This is the best saving account or the best FD rate.’ It was all about how the moments of life are more important than just a banking account. When you look at your statement after returning from a holiday, you remember the memories and not where and how you used the card.

We want to build in terms of the brand’s softer aspects like building memories. Make life rich, not wealthy.

There is more focus on the Yes Gold savings account and the debit card than any campaign. Why’s that?

If you wanted to go mass market, we would have just said that. But as one of the gratitude and support to the team, we crafted this product.

What about your ads for Sports18 or JioCinema (the official broadcasting and streaming platform for the Paris Olympics in India)?

Nothing, as of now.