MUMBAI: SBI is moving beyond traditional banking services as the country’s largest lender is all set to launch the country’s first integrated lifestyle and banking digital service platform YONO (You only need one) on Friday.
Finance Minister Arun Jaitley will unveil the app, which can be accessed through mobile phones, both Android and iOS, and on the web.
Yono, the first digital banking platform, allows customers to meet their lifestyle needs across 14 categories including booking and renting cabs, entertainment, dining experience, travel and stay etc.
To provide discounts and cash back offers, SBI has partnered with over 60 e-commerce players including Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, and Airbnb. It will use state-of-the-art artificial intelligence, predictive analytics and machine learning to provide services.
“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,” said Rajnish Kumar, Chairman, SBI. He added that the portal was designed to offer maximum customer convenience with minimum clicks and easy to understand descriptions. “We believe this app will help us increase engagement with our customers and enhance their banking experience,” he said.
“This will be the first to offer online purchase and view insurance policies within the portal, without redirecting customer to respective service provider, and to seamlessly access and purchase investment products,”according to a SBI statement.