SBI YONO 2.0: Unified Digital Banking Platform
Why in the news
State Bank of India, the largest public sector bank, launched YONO 2.0, a revamp of its YONO (You Only Need One) app.
Key facts
- Merges mobile banking, internet banking and a financial marketplace with a common KYC and login.
- Single KYC or re-KYC across SBI products, per risk-based KYC norms.
- Starts in English and Hindi; more Indian languages planned.
Features
| Feature | Detail |
|---|---|
| Seamless access | Switch devices without fresh login |
| Security | Stronger authentication, fraud and transaction monitoring, biometrics |
| Interface | Cleaner dashboards, spending and savings insights |
| Super-app | Loans, investments, insurance, bill payments |
Significance
- Takes on fintech super apps and widens rural and semi-urban reach.
Exam angle
- YONO = You Only Need One.