SBI launches YONO – India’s first lifestyle, banking digital platform

SRINAGAR: State Bank of India (SBI) launched India’s first comprehensive digital service platform YONO, acronym for ‘You Only Need One’, an official handout read.
According to the handout, this will be an integrated omni-channel digital platform that offers just about everything related to financial services and lifestyle products /services.
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 customised 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, the handout read.
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, it further read.
YONO will be the first digital banking platform to offer customised 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, claimed the handout.
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.
Chairman SBI, Rajnish Kumar, 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, he added.
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,” Kumar said.