Srinagar, Nov 24: State Bank of India (SBI) is set to launch India’s first comprehensive digital service platform YONO, acronym for ‘You Only Need One’. This will be an integrated Omni-channel digital platform that offers just about everything related to financial services and lifestyle products / services will be launched at the hands of the Union Minister for Finance and Corporate Affairs, Arun Jaitley in Delhi. In addition to an array of banking & financial services, YONO will also allow customers to meet their lifestyle needs across 14 categories including booking & renting cabs, entertainment, dining experience, travel & stay, medical needs and so on. The bank has partnered with over 60 E-commerce players to provide customized offers and discounts to customers. Some of the key e-commerce partners include Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus, among others.
YONO is a path breaking comprehensive digital product from SBI developed using the world’s latest digital technologies such as Artificial Intelligence, Predictive Analytics and Machine Learning and can be accessed through a mobile application and web portal. With YONO, customers can open an SBI bank account digitally in less than five minutes, transfer funds in just four clicks, avail of pre-approved personal loan sans any paperwork , get overdraft facility against fixed deposit, have one view of their banking and financial portfolio of SBI Group companies, benefit from intelligent spend analyser, utilise conversational banking guide through ‘Chat bot’
YONO will be the first digital banking platform to offer customized products and offers from over 60 e-commerce players by leveraging analytics. This will also be the first to offer online purchase and view of insurance policies within the portal, without redirecting customer to respective service provider, and to seamlessly access and purchase of investment products.
YONO can be accessed through mobile phones, both android and iOS, and on the web through a browser, and allows a seamless omni-channel customer experience.
Rajnish Kumar, Chairman, SBI said, “India is going digital at an unprecedented pace and we at SBI have been taking significant strides in the digital banking space. With the launch of YONO, customers will be able to seamlessly access lifestyle offerings and financial services with a single user id and password. The portal has been designed to offer maximum customer convenience where each journey has been designed with minimum possible clicks with easy to understand descriptions. We believe this app will help us increase engagement with our customers and enhance their banking.”