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YONO: The One Digital Banking App of State Bank of India

Book Chapter

Authors: Vijaya Kittu Manda, Satluri Subhadra Shashi Rekha, Aruna Polisetty

Book Name: New Paradigms in Business Management Practices

ISBN: 979-8-576-29351-3

Publisher: Amazon Publishers

Editor(s): Sruthi S

Book Chapter Number: 3

Publication Date: December 2020

Pages: 21-26

Book Link on Publisher Website

Abstract: In their pursuit to increase customer engagement, Indian banks began providing various financial tools in the form of digital banking mobile applications, making banking services available at the fingertips. India's largest retail bank, the State Bank of India (SBI), has introduced several financial tools in its YONO (You Only Need One) app, making it one of the most sought-after mobile apps from any Indian bank. This research article uses descriptive research qualitative methods to explore how SBI went through a digital makeover, making YONO a successful technology start-up. Increasing penetration of smart mobile phones helped banks use fintech tools to provide financial tools far beyond traditional banking, providing a win-win situation to both banks and their customers. Findings and suggestions from this study can help SBI, in particular, and other Indian banks in general, to build better business strategies to be close with its customers.

DOI: https://doi.org/10.17605/OSF.IO/CPXR4

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A Study on Awareness and Use of SBI YONO Application among customers in Thrissur District
By Anaswara K S & Praveena Vijayan; International Journal of Business and Management Invention (IJBMI); Volume 13 Issue 9; PP: 17-23