Daijiworld Media Network - Mumbai

Mumbai, Dec 16: State Bank of India plans to nearly double its mobile banking customer base to 20 crore over the next two years, up from the current 9.4 crore, with the launch of its upgraded digital platform Yono 2.0, chairman C S Setty said on Tuesday.

To facilitate a smooth transition for customers to the new platform, the country’s largest lender will significantly expand its in-branch digital support system, deploying around 10,000 floor managers across branches nationwide by March.

“This is not simply a mobile application,” Setty said at a press conference. “We have rewritten the entire internet banking code, which will now be called Yono Net Banking, and alongside that we have launched a completely reimagined mobile app.”

Highlighting the benefits of digital expansion, Setty said onboarding customers through digital channels sharply reduces acquisition costs, while also enhancing convenience and efficiency. The bank expects Yono 2.0 to play a central role in driving customer engagement and accelerating SBI’s digital growth over the coming years.