YONO: SBI launches an Integrated Digital Banking Superapp
DOI: https://doie.org/10.10399/ABPI.2025391094
Authors:DEEPANKAR ROY, DHANANJAY BAPAT, SAMRAT RAY
Keywords:
Digital Banking, YONO, Transformation, Regulations, Innovation, Financial Inclusion
Abstract:
Digital banking in India is undergoing significant transformation with the adoption of newer technology, and the formation of the National Payments Corporation of India to give push to electronic transactions. State Bank of India, one of the oldest and largest banks in India, was keen to respond to the evolving banking environment. SBI unveiled a YONO, a leading mobile banking and lifestyle app, that serves as a one-stop shop for banking and lifestyle-related needs in addition to a financial superstore. YONO app is offered by the leading bank from India, State Bank of India. YONO app is a significant digital transformation initiative with the consideration of four pillars: a digital bank for convenience, a financial superstore offering investments and other financial services, an online marketplace with lifestyle products from partners, and an overall digital transformation with analytics that connected these options end to end. The case describes the regulatory environment in India, the evolution of super apps with a global perspective, developing YONO at SBI, the launch of YONO, and specific challenges. In order to improve user experience and customer satisfaction, SBI redesigned its banking application (app), YONO, and presented it as a full-service digital bank (DB) under the new name "Only YONO".