YONO 2.0 launched, Know the features
State Bank of India (SBI) has launched YONO 2.0, an upgraded version of its digital banking platform. This platform offers both mobile and internet banking facilities. The bank announced on December 15 that this upgraded version will provide digital access to over 500 million customers. SBI had launched YONO approximately eight years ago.
Currently, approximately 9.60 crore bank customers use YONO. The bank aims to double this number to 20 crore. YONO has become a major channel for customer acquisition and lending for SBI. A large number of new savings accounts are being opened and personal loans are being disbursed through this platform.
YONO 2.0 is a simple and lightweight app that doesn’t require an expensive smartphone to use. It works even in areas with weak internet connectivity. Using the YONO 2.0 app, users can manage their finances, transfer funds, pay bills, and make UPI transactions.
SBI has merged its mobile app and internet banking platform into YONO 2.0. The app also features enhanced security measures. Transaction controls and the OTP process have been strengthened. YONO 2.0 simplifies KYC and re-KYC processes, eliminating the need for repeated verification for many products and services.
Currently, this app is available in English and Hindi. The bank plans to make it available in 15 languages, which will allow SBI customers across the country to use it. The app also includes financial management tools such as spending analysis, smart recommendations, and a credit score simulator. These tools will enable users to track and improve their credit health.
