SBI YONO 2.0: India's largest public sector bank, the State Bank of India (SBI), has introduced a major update in the world of mobile banking. The YONO app, which is used by millions of people daily to check balances, pay bills, and transfer money, has now returned in a completely new avatar. SBI has launched its new and upgraded YONO 2.0 app, which includes several new features.
Currently, YONO has approximately 94 million users. The bank aims to double this number to 200 million users in the next two years. Bank Chairman C.S. Shetty stated that YONO 2.0 is not just an app, but the bank's entire digital system.

What changes have been made to internet banking?

SBI has completely rewritten its internet banking code, which will now be called YONO Net Banking. The mobile app has also been given a completely new look and easier navigation to provide customers with a better experience.

What are the special features of YONO 2.0?

A key feature of YONO 2.0 is that if a customer leaves a transaction incomplete on mobile or internet banking, they can complete the same process at a bank branch without any difficulty. To facilitate this, SBI is expanding its digital support network in its branches. By March, 10,000 floor managers will be deployed across the country to assist customers with digital services.

YONO 2.0 has been designed to work seamlessly on all types of mobile phones and network conditions. The app consumes less memory and performs better even with slow internet or weak network connections.
How will YONO 2.0 compete with third-party UPI apps?

SBI has completely redesigned the UPI and payment system in YONO 2.0. The bank says that payments were the feature that customers most frequently requested improvements to. The new app will now directly compete with third-party UPI apps.

What is the Phygital model? SBI is adopting a digital-first strategy, but branch services will not be reduced. The bank says it will integrate digital and physical services to provide convenience to customers of all segments.
How secure is YONO 2.0?

YONO 2.0 uses a security-by-design model. Customers can set their own transaction limits and usage settings. In addition, 60-70% of transactions are monitored in real time.
When will the new app reach all users?

YONO 2.0 is being launched in a phased manner as an app upgrade. Most Android users will be shifted to the new app in the next two weeks. Approximately 35 million of the bank's internet banking users have already migrated to the new YONO Net Banking.

When was YONO launched?

Launched in 2017, YONO now handles most of SBI's digital operations. The bank has also clarified that work has already begun on YONO 3.0.

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