SBI gives Yono app a brick and mortar presence

NEW DELHI: State Bank of India (SBI), the country's largest bank, has launched its high-tech ‘YONO Branches’ to give its flagship banking app a physical presence. These branches are targeted at digital-savvy customers to enable them to undertake physical transactions in a self-service model.
The YONO Branch has been launched as part of a pilot project in three cities – Navi Mumbai, Indore and Gurugram.The objective of setting up the branch is to improve customer experience and encourage migration toward digital banking among its customers. Unlike its earlier banking apps, YONO is being positioned by SBI as an integrated digital and lifestyle platform providing offers like other e-commerce sites.
SBI has made the app available globally by launching it in UK & Mauritius and plans to take it to 9 more countries by the year-end. The app has crossed 5.1 crore downloads and 2.4 crores registered users The app has 50 lakh logins per day along with over 4,000 daily disbursals of personal loans. SBI has partnered with more than 85 e-Commerce players across 16 plus categories. SBI through YONO has also come up with various initiatives which include YONO Cash (Card-less withdrawal facility from ATMs), Pre-approved Personal Loan, YONO Krishi catering to all categories of customers.
The YONO branch adopts the 'Digital-first’ operating model by allowing multiple self-service options for cheque deposits, passbook printing and self-assist kiosks which will enable customers to avail a broad range of services, such as booking FD or creating an account. While the services are digital the customer can get handholding from bank staff
Launching the branch on the eve of the 65th anniversary of its Foundation Day SBI chairman Rajnish Kumar said “We are glad to witness YONO SBI venturing into brick and mortar model and are delighted to launch YONO Branch on the auspicious occasion of State Bank Day. We believe YONO Branch will enable and empower customers to adopt digital banking to enjoy all banking services with ease.”