The Universe of YONO (You Only Need One)

Launched in November 2017, You Only Need One (YONO) has been one of the most ambitious, innovative & path-breaking digital offering by any Bank across the world. With more than 24 million accounts, it has already transformed SBI from the largest Bank in India to the biggest digital bank.

The design principles of YONO are based on providing a world-class digital experience to the customers through a simple, intuitive yet secure digital solution. YONO is a single touch point and one stop solution for various Banking, Financial & Lifestyle needs of the customer through a convenient and user friendly omni-channel interface. With more than 45.8 million downloads with daily logins of around 5.5 million, the volume growth alone shows the pace of popularity amongst users.

State Bank of India serves the largest, and the most diverse customer base in the world. From retail customers to corporates, from foreign branches to serving the society in the rural hinterland, the crosssection of the customers the

Bank serves, represents various strata of the global population. With this in mind, the Bank has developed different variants of YONO in order to provide a delightful digital experience to each & every customer. The entire YONO platform is fuelled by path breaking data analytics & advanced technologies.

While YONO Retail fulfills the needs of the individual customers, the YONO Business platform is aimed at providing digital solutions to MSMES and the corporates of all sizes. While YONO Global serves the aspirations of Bank’s international customers, YONO Krishi has been developed to address the unique requirements of the farmers.

YONO Retail

The retail variant of YONO offers the customers, the convenience of Fund transfer through UPI or QR Code as well as card-less withdrawal at ATMS. Cardless cash withdrawal can also be done through POS terminals along with the facility to shop without use of a debit/credit card. With 90+ leading merchants such as Amazon, Myntra, Tatacliq, OLA, Yatra, IRCTC, Shoppers Stop, Uber etc. on a single platform offering exclusive YONO deals for online shopping. SBI customers don’t need to separately download these apps and can directly access them through YONO. Online availment of Pre-approved loans (Personal Loan, Pension Loan, Xpress Credit and Xpress Credit Insta top-up loan) that are immediately disbursed with zero paperwork are extremely popular with the customers.

Additionally, the Bank is providing the convenience of online purchase of various financial products of the Bank’s Joint Venture Companies (SBI Life, SBI Caps, SBI Cards, SBI Mutual Fund and SBI General Insurance) on a single platform. Customers can instantly avail life insurance cover up to Rs.20 lakhs. Along with addition of various new features on the YONO app, several new journeys (such as Digital Account Opening, Agri Gold Loan, ecards Apply, KYC Update, Stop Cheque etc.) have been launched on the YONO Portal interfacing the Branch, to provide an enhanced and convenient experience to the customers, should they visit the Branch.

YONO Business

YONO Business is one-stop integrated banking solution addressing corporate financial needs. YONO Business has provided single sign-on to the Corporate customers who may be using Corporate Internet Banking, Cash Management Product, Supply Chain Finance, e-trade and e-forex. Corporate customer does not need to maintain separate username and password for all their corporate applications within the bank.

YONO business-design principle is to make all journeys intuitive and simple. It is designed to reduce the footfall at branches and to serve each corporate customer in a seamless way. The design is supported by robust technology with high end systems and controls. API based platform is getting ready for direct interface with ERP systems of corporate customers.

YONO Business platform also provides unified digital onboarding of NTD (new to digital) corporates using simple and omnibus document submission process. Proprietory / single user firms can use their debit card credentials for complete digital on-boarding. Corporates interested in online booking of forex rates can use the eforex module of Yono Business. Letter of Credit related inputs can be entered by the Corporate from his own office without visiting a bank branch. The corporate also has facility to apply for a plethora of special corporate services being provided by the Bank. These services include; requisition for POS terminals, State Bank Collect / MOPS for collections, Bulk Payments, e-mandate facility, RERA accounts etc. The design of YONO business is customer oriented as customer surveys are performed with different segment of corporate customers and each process is conceptualised keeping customer convenience and security aspects in mind.

YONO Krishi

YONO Krishi was launched in July 2019 primarily targeted for farmers. With features like Agri Gold Loan, YONO Mandi and YONO Mitra, the platform has been designed to cater to the banking and agricultural needs of farmers through a digital platform. It is a one stop solution for the agriculturists, offering simplified banking services, finance/ credit, investment and advisory/ market intelligence related services as well as to enable market linkage through an online marketplace. Apart from providing enhanced customer experience for agriculture needs, existing processes at the branches are being digitised to reduce manual intervention, which will reduce the turnaround time and improve operational efficiency.

YONO Global

YONO went international with the launch of Yono Global mobile application in UK on 23.09.2019, with a strong focus on convenience for retail customers. The app aims to serve the hyper connected, highly informed, value-driven customers expecting immediate banking services with real time responses and targets to scale up the business of SBI’S foreign offices/subsidiaries. It also provides services like FD and remittances to walkin customers who are not maintaining any operative savings or current account with the Bank. The app enables customers to view, download or email the account statements of their account whether maintained in SBI’S Foreign office or any domestic (Indian) branch.

The app has also been released in Mauritius and Maldives and is getting ready for launch in Canada, Singapore and Bahrain.