How can Yono

revolutionise Digital
Banking?
Presented by-
Team Udyam
JBIMS
● Ashish Malhotra
● Shubham Biyani
● Rudraksha Patle
What is Yono by SBI?

YONO (You Only Need One) is an integrated digital banking platform offered by State
Bank of India (SBI) to enable users to access a variety of financial and other services.
YONO was launched on 24 November 2017. It offers banking services such as:

●Online Shopping
●Online Education
●UPI Payments
●Bank account opening
●Cashless Bill Payments
●Loans
●ATM Withdrawals
USPs of YONO

YONO Cash is a one-of-a-kind feature on the YONO platform (both on the App as well as the online portal). It allows
account holders to withdraw money instantaneously from any SBI ATM and most SBI Merchant POS terminals or
Customer Service Points (CSPs) across India without the need for a physical card or withdrawal slip.

To make a cash withdrawal, the YONO user only needs to log in to the platform and use the YONO Cash feature to
generate a reference number and a dynamic PIN. The customer can then use it to complete the transaction and
withdraw/obtain cash from any of the available channels, such as an ATM, a POS terminal, or a CSP.

The solution is unique because of multiple reasons.

❖ It's Convenient: Customers can withdraw cash from ATMs, POS, and CSPs even if they leave their wallets at
home and only have their phones with them. Over and beyond ATM withdrawals, YONO Cash transactions
are counted.
❖ It is friendly to the environment: Plastic cards will be completely phased out.
❖ It's safe to use: Eliminates the majority of the hazards connected with physical cards, such as shoulder
surfing, card trapping, card skimming, and card/pin loss. For each transaction, the PIN is generated
dynamically.
❖ It is available in eight regional languages
Yono in Figures (as of 2021)

App Downloads Registered Users

70.5 million 37.09 million

Average Daily Logins

10 million
SBI YONO: Revolutionising Indian Digital Banking

● Through the remodelling of a few physical branches, cashless operation branches can be
introduced
● High-volume, low-value-added tasks that could profit from economies of scale can be
centralised and digitised
● Modernization of contact centres using Chat/Voice BOTs and Artificial Intelligence
● Using digital channels to provide streamlined paperless processes for obtaining and
managing loans
● Predictive analytics and social media data to improve product targeting
● Using geo-tagging to send location-based targeted client offers in real time
How SBI & its YONO is most suited for mass adoption of digital payments?

Under PMJDY, launched in 2014, 420 million bank accounts have been opened till date. Also, a
substantial fraction of MSME 63.88 million remain outside the ambit of formal finance and there is
continued reliance on informal money markets like money lenders (quick disbursal without
documentation) or chit funds (delayed disbursal but lower interest rates than money lenders) to
finance itself, even at the cost of staying uncompetitive owing to the usurious interest burden.

Given its vast reach in remote, rural and urban areas, of all the banks, SBI is most suited for
revolutionising digital payments in India and YONO will be the critical instrument in achieving this
goal.
Future Plans

❖ Provide a world class customer experience through omni-channel and seamless customer
journeys
❖ Using digitalization, achieve disproportionate growth. Increase your share of wallet and
acquire at scale, and use digital to facilitate additional sales outside of your regular
channels.
❖ C/I ratio improvement through end-to-end digital process redesign
❖ Partner with ecosystem companies to satisfy key client demands and cross-sell
opportunities beyond banking goods to orchestrate the digital ecosystem.
Thank You!