SBI Gears Up for YONO 2.0: Enhancing Digital Banking Experience

Former SBI Chairperson Dinesh Khara announced that the bank is developing a new version of its digital platform, YONO 2.0, to better address customer needs. Highlighting the platform's current success, Khara emphasized the importance of risk management in banking during his address at the Global Fintech Fest 2024.

SBI, India's largest lender, is set to upgrade its digital banking platform to YONO 2.0, aiming to enhance customer experience and cater to evolving preferences. Former Chairperson Dinesh Khara made this announcement during the Global Fintech Fest 2024, reiterating the platform's global impact and widespread user base.

Khara, who retired on Thursday, shared insights on YONO's journey, revealing that the platform, initially intended as a retail solution, has expanded to meet diverse banking and financial needs. With 80 million registered users and generating significant loan volumes, YONO has become a notable name in the digital banking landscape.

Emphasizing the importance of risk management, Khara cautioned bankers against becoming complacent during prosperous times. He highlighted the strengthening of the banking system's infrastructure to mitigate risks, ensuring secure and reliable lending practices.

(With inputs from agencies.)