The State Bank of India has launched India's first comprehensive digital service platform YONO, acronym for ‘You Only Need One’ by the hands of Union Finance Minister Arun Jaitley.  

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SBI developed YONO using the world’s latest digital technologies such as Artificial Intelligence, Predictive Analytics and Machine Learning and can be accessed through mobile phones, both android and iOS, and on the web through a browser.

Rajnish Kumar, Chairman, SBI “With the launch of YONO, customers will be able to seamlessly access lifestyle offerings and financial services with a single user id and password. 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."

YONO provides lifestyle needs across 14 categories like booking & renting cabs, entertainment, dining experience, travel & stay, medical needs and many more. 

Also, SBI  has partnered with over 60 E-commerce players to provide customized offers and discounts to customers. Some of them are Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus, among others.  

In regards to financial services, customers using YONO can fulfill the following needs. 

  • can open an SBI bank account digitally in less than five minutes
  • transfer funds in just four clicks 
  • avail of pre-approved personal loan sans any paperwork 
  • get overdraft facility against fixed deposit
  • have one view of their banking and financial portfolio of SBI Group companies 
  • benefit from intelligent spend analyser
  • utilise conversational banking guide through ‘Chat bot’

Kumar lastly said, "We believe this app will help us increase engagement with our customers and enhance their banking.”