Banks Are Warming up To Startups; Here’s Another Scenario!

Banks have always lent their support to traditional businesses and entrepreneurs. However, with the emergence of new-age startups today, it’s important that banks and government agencies tweak their services and policies to facilitate the new breed of entrepreneurs.

The New Economy Group was set up at Axis Bank to specifically focus on companies using technology to build rapidly scalable businesses. The objective of setting up this group was to have a single point of contact for these entrepreneurs to meet all their banking and financial requirements. The group aims to foster relationships with emerging e-commerce companies through a comprehensive model based on technology and innovation.

Entrepreneur India spoke to Tanu Bhargava, Senior Vice President and Head of the New Economy Group to understand the initiatives offered by the bank under this profile.

“The profile of the customers in this segment is very different. They are very young, tech savvy; hence the solution from our end also had to be very tech oriented. We really needed to make banking simple for them and we decided that instead of having a product approach. We decided to have a separate group to give startups tailor made products, customize technology to enable easier usage of banking services,” Tanu said.

In a typical scenario, one would see startups open a bank account at one of the regular branches where the services are limited to the basic needs. But in the case of startups, once they begin to evolve, they will require more tailor-made services to suit their requirements to run businesses.

Tanu also briefed us about another strategic initiative, wherein the bank is engaging with fintech companies which it believes has ideas that can help Axis Bank innovate any of its products, processes or services.

Banks warming up to startups

Several banks in India are gradually getting comfortable with the idea of collaborating and working with the new-age startups. , State Bank of India and private banks have invested their time and money and backed technology startups.

Tanu said that some of the major things entrepreneurs should keep in mind before approaching Axis Bank for its tailor-made solutions is complete understanding of their business models, technology and how Axis Bank can help scale their business.

Thought Factory, Axis Bank Innovation Lab at Bangalore intends to constantly innovate & introduce Banking 2.0 solutions that can radically change consumers’ life in Banking and beyond. Thought Factory encompasses an in-house Incubator team, an Accelerator and a start-up hub ‘Social’ powered by Amazon Internet Services Private Ltd (AISPL), the India affiliate of Seattle-headquartered Amazon Web Services Inc.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
business
Thank you for your hard work and help.
Customer 452773, February 13th, 2023
Business and administrative studies
perfect
Customer 452773, February 23rd, 2023
Leadership Studies
awesome work as always
Customer 452773, August 19th, 2023
Criminal Justice
This has been the greatest help while I am recovering from an illness. Thank your team so much.
Customer 452671, May 2nd, 2021
business
Great job
Customer 452773, February 13th, 2023
DATA565
The support team was late responding , my paper was late because the support team didn't respond in a timely manner. The writer of the paper finally got it right but seems there was a problem getting the revisioin to me.
Customer 452773, April 7th, 2024
History
Don't really see any of sources I provided, but elsewise its great, thank you!
Customer 452697, May 8th, 2021
Business and administrative studies
Perfect
Customer 452773, February 23rd, 2023
Business and administrative studies
Thank you for your hard work and effort. Made a 96 out of 125 points Lacked information from the rubic
Customer 452773, October 27th, 2023
Nursing
thank you so much
Customer 452749, June 10th, 2021
Business and administrative studies
Thank you for your hard work and help
Customer 452773, February 21st, 2023
Management
Love this writer!!! Great work
Customer 452597, April 5th, 2021
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp