Context:
The State Bank of India (SBI), India’s largest public sector bank, is set to embark on a major digital transformation in FY26, headlined by the launch of a next-generation version of its flagship mobile banking app — ‘Only Yono’. The transformation strategy encompasses AI integration, multilingual customer engagement, and digitization across banking verticals.
Key Features of ‘Only Yono‘ App
- Hyper-personalised user journeys for seamless navigation and offers.
- Biometric login support for enhanced security.
- Multilingual interface to broaden accessibility across regions.
- Focus on paperless banking through:
- Video KYC for sole proprietorship account openings.
- Facial recognition in kiosk banking to boost rural and semi-urban inclusion.
Rural and Agri-Focused Digital Expansion
- Digital Kisan Credit Card (KCC) journey to be expanded to five more states, enhancing credit access for farmers.
- Revamp of Agri Loan Management System to streamline agricultural lending.
Branch and Self-Service Tech Upgrades
- Deployment of 3,000+ Swayam kiosks for automated passbook printing.
AI-Powered Customer Engagement
- A marketing technology platform integrated across SMS, WhatsApp, and email to go live by October 2025.
Advanced Data Infrastructure
- Development of a real-time analytics platform (Data Lakehouse) by September 2026.
- Will centralize decision-making data across business verticals.
Trade Finance & MSME Digital Push
- Revamp of trade finance operations with new digital modules.
- Export and import modules for trade finance went live in April 2025.
- Upgrades aimed at streamlining MSME and cross-border banking processes.
