Money & Banking

SBI’s digital banking platform ‘YONO’ encounters technical glitch

Our Bureau. Mumbai | Updated on December 02, 2020

State Bank of India’s (SBI) digital banking platform ‘YONO’ encountered a technical glitch on Wednesday. Customers took to twitter to complain about not being able to open the app/login.

According to SBI’s FY20 annual report, the daily active user base on YONO averaged 30 lakh logins (average 10 lakh in FY2019). This app was launched in November 2017.

Gaurav Mishra (@GPBhaiya) tweeted: “Why Yono is not working ?? I have to do important transaction (sic)”

Roshan Deep Singh (@RoshanDeepSing8) wondered: “Is there any problems with yono ?? Why it's not open (sic).”

Ram Krishna Hari (@sheldon_cottrel) asked: “Is there any problem for yono in maharashtra , i am not able to login.”

The bank has set great store by YONO, estimating a contribution of ₹1,000 crore to its profit before tax in FY21.

As of September-end 2020, India’s largest bank had about 2.85 crore cumulative registrations for YONO.

As per the report, YONO provides both lifestyle and banking experience with more than 31 products, and over 40 services of 5 Joint Venture partners (SBI Life Insurance, SBI Card, SBICAP Securities, SBI General Insurance and SBI Mutual Fund) live on its financial superstore.

Published on December 02, 2020

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