The country’s largest public sector bank, State Bank of India(SBI) has created a unified digital platform YONO (You Only Need One) for all your lifestyle and banking needs. YONO’s web portal and app were officially launched by Finance Minister Arun Jaitley at New Delhi.on Friday.
“YONO is a path- breaking comprehensive digital product from SBI which has been developed using the world’s latest digital technologies such as Artificial Intelligence, Predictive Analytics and Machine Learning,” – SBI official.
A customer can access the services offered through YONO by visiting sbiyono.sbi or downloading the iOS or android app. These include banking, financial services, and over 14 categories of lifestyle requirements. For providing lifestyle services, the bank has partnered with over 60 e-commerce players and some offline players. Some of these partners are Ola, Uber, Amazon, Jabong, Myntra, Cox & Kings, Shoppers Stop, Yatra, Thomas Cook, BYJU’s, Swiggy and Airbnb.
How To Setup YONO App
- Download YONO from Google Play store or iTunes.
- For new users click open a new digital account, complete the formalities.
- Existing users can log in with internet banking credentials or account details of ATM Card.
(Visit your SBI branch in case you do not have internet banking or ATM Card) - Setup 6 digit M-PIN, enter the OTP received in your registered mobile number.
- Type the MPIN or banking credentials to log in and complete your profile.
Features of YONO by SBI
- Instant account opening – Open a digital savings account in less than 5 minutes.
You can open two types of accounts viz Digital savings account and Insta savings account. - India’s largest shopping marketplace – Exclusive discounts and offers for SBI users on e-commerce sites.
Save more as cash back, discounts and reward points from e-commerce portals like Amazon, Flipkart etc. - Banking simplified – Easy to understand interface, integrated SBI Intelligent Assistant, or SIA.
Requires fewer clicks for navigating within the app or in the web portal, also get SIA’s help at your fingertip. - Quick pay – Intelligent funds transfer with UPI (Unified Payment Interface) enabled payments.
Create and manage your VPA’s (Virtual Payment Address) and QR codes for faster transactions. - One view – Link and view all State Bank group relationships (Bank and all JVs) in one app.
Manage your savings, fixed, Demat, Credit card, Loan, and Rewardz account in one place. - Smart spending – Intelligent spending analysis and categorization of the transactions.
View your savings account transactions and spend analysis for a week, month or quarter. - Your friend in need – Pre-approved personal loans on the go in 2 minutes.
Customers can apply for auto, home loans and pre-approved personal loans based on cash flows.
Conclusion
The State Bank of India has over 42 crore customers, out of which 7 crores are using some mode of digital transaction. With this wonderful umbrella app, SBI is trying to digitize most of their services for the benefit of netizens. Moreover, SBI is also planning to integrate more apps and services to YONO platform in future. With the introduction of YONO, SBI has made a big leap of digitally integrating their services. Hope you enjoyed the article, Peace!