The pilot of YONO 2.0, the digital banking application of the country’s largest bank, is expected to be out in November 2024, the lender’s chairman CS Setty said.
“We have identified some of the frequently used consumer services and those will be moved into phase 1, hopefully sometime during November we will be able to launch under closed user groups and then eventually to the public,” Setty said at Global Fintech Fest in Mumbai on August 2024.
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Setty also said that YONO 2.0 will see more robustness and scalability than YONO 1.0.
“We are looking at a complete transformation of this app. It’s 5-6 years old, while design elements will remain, we are focussing more on the stability, scalability and robustness of the application,” he said.
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Earlier, the bank said that it will soon launch its’ Yono Global’ in Singapore and the US, offering digitalized remittance and other services to its customers, Vidya Krishnan, Deputy MD (IT), said. “We are continuing to invest in Yono Global to offer the best services available as we want to give superior experience to our customers,” Krishnan told PTI at the three-day Singapore Fintech Festival (SFF), which ends on November 17.
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SBI’s digital push
Setty also added that the bank is focusing more on technology and technological resilience, which needs to invest in data architecture, revisit your infrastructure, network.
“We are also looking at large-scale adoption of marketing technologies or mar-tech. This would help us, combined with our prowess which we developed in AI & ML to make hyper personalized offers.
