State Bank of India revolutionises its YONO platform with advanced AI-powered digital innovations, offering seamless retail and business banking experiences, including a unique sustainability tracker and an AI virtual assistant for its vast customer base.
Key Points
- SBI introduces AI-powered digital innovations on its YONO platform for over 53 crore customers.
- New retail features include a 3-in-1 digital onboarding for savings, demat, and trading accounts, and online salary account upgrades.
- An industry-first sustainability journey on YONO allows customers to track carbon emissions and monitor a monthly green score.
- Business banking is enhanced with integrated Trade Finance on YONO Business and the launch of YONO Ji, an AI virtual assistant.
- These initiatives align with SBI's commitment to technology-driven, customer-centric banking and India's Viksit Bharat 2047 vision.
State Bank of India has unveiled a suite of AI-powered digital innovations to strengthen retail and business banking, marking its 71st foundation day. This move reaffirms its commitment to delivering intelligent and future-ready banking experiences for over 53 crore customers.
The announcements primarily focus on SBI's YONO platform, introducing new customer journeys, AI-driven capabilities, and industry-first features. These innovations are designed to simplify banking, empower businesses, and promote financial and sustainability wellness, as stated by the bank.
Enhancing Retail Banking and Onboarding
For retail customers, State Bank of India (SBI) has expanded YONO with new digital journeys, making banking more intuitive and comprehensive. New customers can now open a Savings Account, along with a demat and trading account with SBICAP Securities Ltd, through a single 3-in-1 digital onboarding process. Additionally, eligible customers can seamlessly convert their savings account into a Corporate Salary Account or upgrade an existing salary account online, eliminating the need to visit a branch.
The bank has also introduced an industry-first sustainability journey on YONO. This feature enables customers to track the carbon emissions saved through digital banking transactions and monitor a monthly green score, promoting environmental awareness.
Advanced Business Banking and AI Integration
Strengthening its leadership in business banking, SBI has significantly expanded eTrade on YONO Business by integrating its complete Trade Finance suite into the mobile platform. This enhancement aims to streamline trade finance operations for businesses.
Furthermore, SBI introduced YONO Ji, an Agentic AI-powered virtual assistant. Available 24x7 across YONO Business web and mobile platforms, YONO Ji provides instant guidance on products, platform features, and service-related queries, ensuring faster and more personalised customer assistance.
SBI Chairman CS Setty commented on the developments, stating, "As we celebrate 71 years of serving the nation, our focus remains on building a technology-driven and customer-centric bank...today's launches reflect our commitment to harnessing Artificial Intelligence, digital innovation and data-driven insights to make banking simpler, smarter and more accessible." He added that from financial wellness and sustainable living to AI-powered business banking and mobile trade finance, we are creating integrated digital ecosystems that support India's growth journey towards Viksit Bharat 2047. Currently, there are over 10 crore registered YONO users out of SBI's 53 crore customers.
