SBI rolls out digital banking platform YONO

Monday 27 November 2017 10:48 CET | News

State Bank of India has released an integrated omnichannel digital platform to offer banking services to its customers.

The platform, launched by the Union Minister for Finance and Corporate Affairs, is an acronym for You Only Need Once; it will enable customers to avail 14 categories of services, among which booking and renting cabs, entertainment, dining experience, travel and stay, and medical assistance. 

In addition, the platform will provide customised products and services to its customers from over 60 ecommerce players, including Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus. Users can also purchase and view investment products (insurance policies), without having the need to redirect the customer to the respective service provider.

YONO was developed leveraging technologies such as artificial intelligence, predictive analytics and machine learning, and can be accessed through both its web portal and a mobile application. Customers will be able to benefit from opening a bank account in less than five minutes, transferring funds, availing paperless pre-approved personal loans, getting overdraft facility against fixed deposits, and having access to a single-view window of the banking and financial portfolio of SBI Group companies, besides a smart spend advisor and chat bots for conversational banking.

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Keywords: SBI, online banking, YONO, omnichannel, India, ecommerce
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech