YES BANK ties up with India Infoline to offer brokerage service

Mumbai, Dec 10 : YES Bank, India's new age private sector Bank, and India Infoline (IIFL), one of the leading equities brokers, today announced that they have entered into a mutually beneficial strategic alliance to offer premium Brokerage services to customers of YES BANK and a superior proposition of Savings account for IIFL customers.

Talking to newsmen here today, Mr Suresh Sethi, Group President - Transaction Banking, YES BANK, said , '' This alliance will be able to add tremendous value to the customers of YES BANK, who will appreciate and benefit from the premium broking offering and other value-added services that we bring to the table. At the same time IIFL customers will have access to YES BANK account with cutting edge features for leveraging financial efficiencies, many of which are industry firsts.'' '' YES BANK customers will now have multiple options for trading in equity shares, online or off-line, on NSE or BSE, in the cash segment as well as in derivatives segments on a single platform. IIFL's widely acclaimed research and experienced advisory services will help YES BANK customers take informed investment decisions.'' Besides, they will be aided by IIFL's dedicated relationship managers to empower customers in achieving their financial goals.

This will be an addition to YES BANK's current suite of cutting-edge Online Wealth Management Solutions, Mr Sethi said.

The technology platforms of YES BANK and India Infoline will be integrated to offer the customers a seamless trading experience. The offering will be a three-in-one account where the Bank account and depository account will be with YES BANK while the broking account will be with India Infoline. The customers will be able to transfer funds from their YES BANK account for investments into capital markets, Mr Sethi added.

Mr Nirmal Jain, Chairman, India Infoline Ltd, said at the occasion, '' The alliance will be able to add tremendous value to the customers of YES BANK, who will appreciate and benefit from the premium broking offering and other value-added services that we bring to the table. The clients will have access to our state-of-the-art trading platform, the Trader Terminal, which offers a host of features such as advanced technical tools, access to our research and seamless funds transfer facilities as well.''

--UNI