SBI is working on the introduction of YONO 2: Chairman

State bank of India, the country’s largest lender is working on rolling out the next version of its Yono (You Only Need One app) digital lending platform, President Dinesh Khara said. Yono was originally intended as a distribution platform for the products in the retail segment.

“During the trip, SBI was able to see the potential of Yono for international activities, especially where we have retail stores. We were also able to visualize its relevance to Yono’s business and have now begun to apply it to our agricultural segment.” . he said.
“Now we’re thinking about how we can integrate all these fragmented pieces of Yono and think in terms like Yono 2 what the next version is. We are working on that and it will come out with this and products soon,” said Khara. .
As of March 31, 2021, Yono has more than 7.96 million downloads and approximately 3.71 million registrations, according to the bank’s 2020-2021 annual report. The bank added 40,000 overseas clients to the Yono platform by the end of March 2021, it said. is on track to launch Yono in Singapore, Bahrain, South Africa and the US by the end of fiscal 202122.

Khara said SBI looks at technology from an operational monitoring perspective.
The bank has begun using analytics to profile and reach customers, and is also using analytics for risk management and mitigation.

Prashant Kumar, Managing Director and CEO of Yes Bank, said at the event that banks need alliances and relationships with technology during this time.

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