Startup Village, HDFC team up to launch digital account, credit card for startups

Kochi, Aug 6: Startup Village and HDFC Bank today jointly launched a digital account opening system and credit card for startups in Startup Village, India’s first PPP-model technology business incubator.

The initiative was launched by Mr. Navin Puri, Country Head - Branch Banking, HDFC Bank and Mr. Nitin Chugh, Head - Digital Banking, HDFC Bank, Mr Sanjay Vijayakumar, Chairman, Startup Village and Pranav Kumar Suresh, CEO, Startup Village in the presence of senior officials at Startup village, KINFRA, Kochi.

The process of opening a current account can now be initiated by companies in Startup Village by filling up an online form, and can be completed without having to visit the branch. The exclusive business card offered by HDFC Bank is customized, bearing the Startup Village branding on it.

“It is India’s young who are disrupting traditional business models, driving innovation and creating value in a fast changing business paradigm. We are partnering with Startup Village who represent India’s young and innovative minds to enable them realize their dreams. The initiative not only offers greater ease of doing business, but also highlights the customer's association with a prestigious initiative such as Startup Village,” said Mr Navin Puri, Country Head –Branch Banking, HDFC Bank Ltd.

"Customer focus and product leadership are two of the core values of HDFC Bank. Enabling the e-opening of current accounts is yet another step in living these values.  We want to be active partners in a new digital India,” said Mr Nitin Chugh, Head-Digital Banking, HDFC Bank.

“India till now does not have a bank equivalent to the Silicon Valley Bank which offers next generation banking products for technology startups in Silicon Valley. HDFC is now moving fast into that league and the innovative products launched by the bank will be highly beneficial for the startups in India,” Mr  Vijayakumar said.

This is the latest initiative in HDFC Bank's digital banking offering, christened GoDigital 'Bank Aapki Muthi Mein'. This campaign began on the banks of the Varanasi last year, with the launch of its ‘Bank Aap Ki Muththi Mein’ offering, which literally converts the mobile phone into a bank branch. Since then, the bank has launched a host of digital initiatives like Chillr, a mobile app that allows users to instantly transfer money to any contact in their phonebook 24 hours a day, seven days a week and PayZapp, India’s first 1-click mobile-pay solution.

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