There is good news for the customers of the country’s largest public sector bank State Bank of India (SBI). Especially for people using SBI YONO app. In fact, the bank is working towards launching a version of its digital lending platform YONO.
There is good news for the customers of the country’s largest public sector bank State Bank of India (SBI). Especially for people using SBI YONO app. In fact, the bank is working towards launching the next version of its digital lending platform YONO (an app with multiple features).
SBI Chairman Dinesh Khara said during a banking event organized by industry body IMC that when the bank launched YONO, it was taken as a distribution-platform for the products of the retail segment.
He said SBI may utilize the potential of YONO for international operations. Especially where we have retail operations. We can also use YONO for business.
SBI Chairman said that now we are looking at how to bring all these features together on the next version of YONO. This is something we are working on and will come out with more features soon.
According to the bank’s annual report for 2020-21, about 7.96 crore people have downloaded YONO and 3.71 crore have registered as of 31 March 2021.
Explain that through YONO, you can open a savings account through video KYC sitting at home. The bank is providing this facility to its customers through the YONO app. According to the bank, this initiative is based on AI and facial recognition technology. The bank has said that such people can take advantage of this facility, who want to open their account in SBI.