The company said the tie-up will further strengthen its digital leadership position and is part of an effort to make banking more inclusive and accessible to its growing consumer base.
“Prevalent business requirements and related digitization needs have accentuated the demand for digital escrow services, and we are certain that our customers will find this newly launched service using Castler’s digital escrow services platform of great significance in ensuring timely and trustworthy monetary transactions,” Ajay Rajan, Country Head, Transaction Banking Group, Yes Bank said.
“Trust is the most important component as businesses and transactions become completely digital. Castler is building the epitome of trust through its digital escrow platform. Yes Bank’s dominance in developing digital-first strategies for SMEs, MSMEs, fintechs and startups will help Castler serve a larger audience of customers,” Vineet Singh, co-founder & CEO, Castler said.
In July 2021, the startup launched the country’s first white-label digital escrow solution – Castler SmartEscro – to make financial transactions safe and secure.