YONO (You Only Need One) is a digital banking platform launched by SBI to help customers find a solution regarding their queries. Recently, YONO (1) has touched a landmark of 20 million registered users. In the past two years, YONO has managed to transform the journey of digital transformation. YONO has also managed to attract a lot of customers for SBI in the recent period. With a vast customer base, YONO is one of the most used digital banking platforms in 2020. YONO also has partnered with over 100 e-commerce companies with more than 20 categories. According to a survey, YONO completed 5 million ATM transactions recently, which is a big feat for any digital banking platform.

Services offered by YONO

YONO is the solution to the modern-day problem; with several features, YONO helps the customer to find different stuff in one place. These services of YONO make it different from other digital banking platforms.

  1. UPI payment method helps you to transfer funds quickly with a single click.
  2. A variety of discount deals can help you connect with many e-commerce websites.
  3. You can get life insurance, mutual funds, and credit card with the help of YONO.
  4. Somebody can easily book tickets for different platforms such as IRCTC, Redbus.
  5. Room bookings are also available on YONO, which makes it more versatile for people.
  6. YONO helps you to keep track of your expenditure and manage your transactions in a better way.
  7. Pre-approved loans up to 5 lakhs are readily available on YONO.
  8. YONO provides security to your banking information, and it makes sure that your information is safe and secure from any fraud activities.

Success Mantra over the years

Consistency has been the key to the success of YONO over the years. YONO has been updated at regular intervals by the tech team, which has helped reduce the bugs over the years. Moreover, the customer support team of YONO has helped in customer satisfaction, and this is one of the primary reasons for such a vast customer base of YONO. Apart from customer support, YONO is easy to install and run an application with an easy guide, which helps the customer to operate it efficiently.

SBI’s chairman, Rajnish Kumar, recently revealed that he is quite happy with YONO’s performance. In addition to this, he also mentioned that different steps would be taken soon to improve performance. Additional security measures would be installed to respect the privacy of customers and users.

Expectations and results

SBI is planning to make some significant changes in the application shortly. Along with the login option, easy to pay, click and view the balance option will also be available.

Now, customers can easily log in using a six-digit M-pin for better assistance. Along with this, customers can also log in using biometric and face id.

All these features are convenient, and these will help customers to run the application efficiently and smoothly.

Customers are expecting new discounts and offers during the upcoming Diwali season. Different discount coupons can be provided to the customers, along with combo offers.

In the past, all these offers and discounts have helped SBI to attract a huge customer base. Customers are happy to use the application because of the reliability and trust in SBI over the years.

YONO has helped customers across India save their time and perform different banking activities while at home. These positives aspects are the primary reason for such a significant milestone achieved by YONO.

Reviews regarding YONO

Numerous people have reviews YONO, and most people are impressed by the features of the application. People have shared their experiences based on the usage and results they have seen. Here are some of the typical reviews shared by people regarding the YONO:-

” YONO is easy to operate application with vast benefits and features.”

” YONO has helped me save my time, and the security level is appreciated.”

” Although there are few limitations still, YONO is the future to the digital banking department.”

So, people across India have shared their opinions, and these opinions are quite positive. People have also shared their thoughts regarding the change that can be made in the future, and YONO has accepted these changes very well.

Future of banking problems

Without a doubt, YONO is going to be the future of the digital banking platform. In a recent press conference, Rajnish Kumar mentioned that SBI already has 100 partners, and more investors are looking to invest their money in the application. He also noted that cardless ATM transactions are the banking sector’s future, and YONO has helped people achieve such a goal.

After the success of cardless transactions, YONO has planned to establish nearly 10 lakh cash point to meet people’s requirements. Further, he mentioned that this would reduce the usage of debit cards, and it will soon eliminate the use of debit cards.

Apart from all these features and benefits, YONO can help people maintain social distancing during the period of Covid-19. People can perform numerous random activities with just a few clicks from home. However, few activities are still not possible on YONO, but as we have seen, YONO has grown a lot in the past two years, and it is expected to grow more in the upcoming time.

To conclude, it is quite clear that digital platforms have helped humanity a lot in past times, and it is the need of the hour. Moreover, nearly 75% of the population nowadays depends upon the digital medium to communicate and perform their activities. YONO is expected to grow as one of the leading digital banking platforms, and as per their growth in recent times, it will happen very soon.

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