19th January, 2020
Business

SBI unveils first in India integrated lifestyle banking

India is gearing-up its banking system rapidly. Now the State Bank of India (SBI) has unveiled the country’s first integrated lifestyle and banking digital platform.  The platform was made live on Nov 24. It was launched by Finance Minister Arun Jaitley.

About the platform

YONO – ‘You Only Need One’-- is the first digital banking platform to offer customised products and offers. Over 60 e-commerce players will offer services by leveraging analytics.

YONO will also allow customers to meet their lifestyle needs across 14 categories. It would include booking and renting of cabs, entertainment, availing dining experience, travel and stays and even medical needs.

Technology and user-interface

SBI’s product employs the latest digital technologies such as artificial intelligence (AI), predictive analytics and machine learning. It can be accessed through mobile applications and web portal.
This portal will not redirect customers to respective service providers, and would seamlessly provide access to investment products.

The portal has been designed with minimum possible clicks and easy to understand descriptions.

Partners

SBI has partnered with big e-commerce players including Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus.