You only need one app for banking and lifestyle services
Over 51 million downloads and 5 million logins per day - this is SBI's mobile banking and lifestyle app YONO (you only need one). As a one-stop-shop app, it offers not just financial services but also a gamut of investment, insurance and shopping services
SBI's mobile banking and lifestyle app YONO (you only need one) is a one-stop-shop app that offers not just financial services but also a gamut of investment, insurance and shopping services.
Accessible on Android and iOS as well as on web, YONO allows a seamless omnichannel experience through a single customer ID and password. The app is designed to minimize clicks and maximize convenience. Therefore, "you only need one" app.
By reducing all banking paperwork, YONO also simplifies the lives of SBI executives, enabling them to focus their efforts and energy on serving their customers better.
SEAMLESS BANKING WITH YONO
Launched in November 2017 by the honourable Finance Minister of India, YONO has become popular among customers. In the 2.5 years since its launch, it has added many feathers to its cap. In July 2018, it won the Mobile Banking Initiative of the Year in India Award at the Asian Banking and Finance Retail Banking Awards (Singapore). In December 2018, it bagged the Best BFSI in Terms of Implementation of Digital Transformation Award at the CSI IT Innovation & Excellence Awards (Mumbai).
NEW AGE DIGITAL SOLUTIONS
YONO plans to onboard 250 million customers by financial year 2025. It also plans to add many new products to its portfolio in the coming years, including end-to-end home loans and pre-approved car loans.
YONO relies on a range of new-age digital solutions. It uses data analytics for future credit assessment. The YONO team is now building a video KYC feature to further streamline and expedite opening of digital accounts, developing a farmer database with the help of blockchain technology, and creating a tool to authenticate inward cheques using machine learning.
WHAT YONO OFFERS?
YONO offers end-to-end digital-banking services, enabling customers to open a savings account in less than five minutes using their Aadhaar Card and without any paperwork, transfer funds in just four clicks, receive an overdraft facility against fixed deposits, and view their entire financial portfolio with SBI in one place.
YONO Cash - With YONO Cash, customers can withdraw cash from 270,000 touchpoints including ATMs, CSPs or merchant shops without needing to use their debit cards. YONO DURING LOCKDOWN -
During lockdown, YONO started a new preapproved personal loan facility to help customers to borrow up to INR 5 lakh within 45 minutes and commence their repayment journey only after six months.
SIMPLIFYING SHOPPING AND PAYING BILLS WITH YONO
Through YONO's online marketplace, customers can directly shop from more than 80 e-commerce sites. YONO offers a host of exclusive and personalised deals to help customers save more as they shop.
To further simplify shopping, the platform is now developing features such as debit on delivery that enables customers to pay directly through their bank account at the time of product delivery, without using their debit or credit cards.
YONO also allows customers to pay their bills, individually or through "auto-pay", across more than 20 categories including mobile recharge, credit card and utilities.
REWARD POINTS WITH YONO
Customers receive reward points for transactions made through YONO that can be redeemed for shopping, buying gift vouchers, recharging mobile/DTH and even for donating to social or environmental causes.
INVESTING AND INSURING WITH YONO
In addition to being a banking app, YONO is also a financial superstore. It includes products and services from SBI Life, SBICAP, SBI Cards, SBI Mutual Fund and SBI General Insurance. Paperless instant policies without medical check-up or branch visit, more than 9 general insurance policies (from health to car insurance), 16+ credit card variants, and thousands of ELSS, equity and DAF mutual funds—YONO makes all these and more available to its customers on a single platform. What's more, it also offers wealth and financial advisory. With YONO, customers do not need to switch between apps for their different financial needs.
YONO FOR FARMERS
Inspired by the overwhelming response to its flagship app, SBI launched YONO Krishi, a platform designed especially for farmers, in April 2019. Available in eight vernacular languages, YONO Krishi provides simplified banking services, an online marketplace to buy/rent agricultural inputs and equipment, farming advisory, and investment and insurance products and services, including agri gold loans. Already, it has made life simpler and uncomplicated for farmers, enabling them to spend more time on their harvest and sales.