YONO by SBI (You Only Need One)

An Omni-channel app for Lifestyle &

Banking needs

2

State Bank of India is among the largest retail banks in the world

#1 Largest Bank in India

(Balance Sheet Size,

Branches)

423 Mn+ customer

base

USD 550 Bn+

business size

SBI Online

is India’s most and the

World’s 5th most visited

banking site

59,263

Pan-India ATMs

24.5 Mn+ FI accounts

opened during the year

80% transactions on

Anytime/ Digital

channels

32.7 Mn+ Internet

banking users

85.7 Mn+ Financial

Inclusion accounts

52,340 + Customer

Service Points under

Business

Correspondent model

3

SBI – a dominant player in digital space

Key digital payment products:

• YONO by SBI

• Mobile Banking

• Internet Banking

• State Bank Buddy (e-Wallet)

• Debit & Pre-paid cards

• Merchant Acquiring Business i.e. PoS terminals

• Aadhar Pay

• Bharat QR

• UPI

SBI has always been in the forefront of Digital Banking innovations

4

We embarked on one of the largest digital

transformation programs ever with three key aspirations

A digital bank for

nearly one-third the nation

End to end digitization to

enhance customer experience

and increase wallet share

India’s biggest

marketplace with

75+ partners and

Other financial

products of SBI group

5

Core elements of the Digital proposition

100% digital experience, eliminating need to visit branches

One view for customer of all wealth and financial assets

Digital onboarding of customers through e-KYC and biometric authentication

Online loan products for retail customers (PAPL to begin with)

Digital bank

All financial products of SBI group on a single platform

Big data analytics to target financial products such as insurance, cards, securities etc. to

specific customer segments

Providing customers financial calculators, comparison tools and life event based targeting

Financial

superstore

Online store for customers to fulfill their lifestyle needs

Personalization of offers with intelligence engine for giving targeted offers

Predictive analytics for search, wish list and offer management

Customer segmentation on demographic and financial parameters

Online

marketplace

Digital journeys with seamless customer experience

Streamline back office operations

Reduction in operating costs

e2e

digitisation

6

260,000+ logins daily

1.57 Mn Registered Users

on Mobile Application &

Web Portal

4.9 Mn downloads on Mobile

77000+ Credit Cards Linked

11600+ Life Ins. Policies Linked

41900+ SSL portfolios linked

2.11+ Mn visits on

Online Marketplace 2500+ pre-approved personal

loans disbursed

150,000+ savings bank accounts

opened since launch

Ranked Top 5 app in

Finance category in iOS

YONO is already one of the largest digital banks across the world

7

With YONO, SBI aspires to achieve growth, improve

productivity and enhance customer experience

Deliver world class customer experience through distinctive, omni-channel and

seamless customer journeys

Achieve disproportionate growth through digital

Increase share of wallet and acquire at scale

Digital to facilitate incremental sales beyond traditional channel

Improvement in C/I ratio through end to end digital redesigning of processes

Orchestrate the digital ecosystem

Partner with ecosystem players to serve core customer needs

Cross-sell opportunities beyond banking products

8

Transformation through digital re-imagining of core processes

Deploying a digitally enabled sales force to service customer needs at their doorstep

Introduction of cashless operation branches through revamping of select physical branches

Centralization and digitisation of high volume, low value add activities which might benefit

from economies of scale

Customer journey simplification through reimagining of key process

Deploying robotic process automation to automate existing routine tasks

Contact centre modernization leveraging Chat/Voice BOTs and Artificial Intelligence

Creating simplified paperless processes for availing and servicing loans on digital channels

Using predictive analytics & leveraging social media data for better targeting of products

Capture and mine big data to gain deep insights into customer behaviour

Leveraging geo-tagging to deliver real-time location-based targeted customer offers

Experimenting with latest technologies like IOT, Block chain, Rob advisors, AI, and other

cutting edge technologies to be at the forefront of innovation

Providing differentiated customer experience and product delivery through alliances with up

coming disruptors in FinTech sector

9

“Wow” factors created to enhance customer experience,

increase staff convenience and reduce overall TAT

Journey Wow factors / Key shifts

Account

opening

Digitised account opening with Instant activation

Reduced customer inputs during digital journeys

Straight through process with single maker to checker hand-off

Minimal Overall TAT of account opening

Elimination of processing centres in digitally opened accounts

Loans

Digitized journey with instant decision on approval

24x7 availability for applying for a loan increasing new applications and conversion

Automated risk scoring and decisioning during the process

Automation of disbursal through app

PAPL launched, Home Loan, Car Loan, Education Loan, Express Credit being developed

CX

Convenience of payments systems and all utility bill payments in one single platform

Tools like spend analyser & average balance graph for customer spends tracking

Jargon free and reduced time for customer journeys

Ex: Account opening journey reduced from 68 to 17 fields, remaining auto-populated

4-click PAPL with no paper work

Journeys in hand to cover entire retail portfolio and almost all non-financial transactions (WIP)

10

Customers can choose between multiple digital account

opening journeys based on their needs

Digital savings account

(with full KYC)

Single branch visit

required to give

biometric and other

terms and conditions

Personalized platinum

debit card

Instant personalized

debit card issued if

customer visits

“InTouch” branch

Insta savings account

Paperless account

opening

Instant account

activation – no visit

required to the branch

Signatureless account

Average time of 4

minutes

Regular (Branch Assist)

savings account

Paperless account

opening

Single handoff between

maker and checker,

ensuring convenience

for customer and

branch staff.

Instant activation

Reduced time at

branches (from 40

minutes to 5 minutes)

Digital doorstep savings

account (Yet to be launched-WIP)

Paperless account

opening

Doorstep account

opening – no visit

required to the branch

Free personal accident

insurance cover

Personalized platinum

debit card

Signatureless account

Available in select

cities

11

Online marketplace increasing customer engagement

Offers

Book Now

Online

Shopping

Gifting

Rewards /

Points

Wallet

Online

Marketplace

A B2C platform with several major

international e-commerce players like

Amazon, Uber, AirBnB, Booking.com,

Expedia etc. across 16 categories like

Fashion & Lifestyle, Electronics, Home &

Furnishing, Travel, Hospitality & Holidays

etc., to cater to lifestyle needs of the

customers.

A portal for SBI customers to:

Access the world of online products,

anywhere, anytime, customized based on

preferences and transaction history

Search across e-commerce sites

Avail customized offers

Get financing options from SBI

Get points and rewards on purchases

An online ‘Automall’ with global automotive

players is being developed.

Aspirations

12

Financial Superstore – a one stop shop for all financial

needs of the customer

Financial Superstore

Life Insurance

General Insurance

Mutual Funds

Credit Cards

Demat A/c

Customer one view – a one stop shop for all

financial products like Credit cards, Mutual

funds, Insurance, Securities providing ease

of usage for customers.

Integration of front and back office

processes for online sale of financial

products.

Wealth & Financial advisory through

financial calculators, comparison tools

amongst product offerings

Data & Analytics driven customer targeting

based on purchase behavior and life events

of the customer.

Work started for National Pension Scheme

and PPF also.

Key features

13

e2e initiatives - Digitization & Centralization

Enhancing customer experience and release of branch capacity through digitization & centralization of

Non - financial services

Structured form of receiving service requests from branches and further processing

Economies of scale – better productivity

of staff

Greater span of control

Standardization of processes, workflows

and queue systems

Increased efficiency Increased effectiveness

Enhanced focus on customer service due to

timely processing of customer requests and

transparency for customer with regards to

status, follow-up action if required

Release of branch capacity for sales related

activities

Digitization of services on YONO platform, contact centre in self-service mode

Service requests on YONO platform (Mobile, E-mail addition/update, Cheque and Debit card related

requests etc.) are digitized

Digitization

Centralization

14

Analytics will help deliver a Next Gen Digital experience

Omni-channel interface with 360° customer one view for superior digital experience

Integration with social media, with event triggers and sentiment analysis

Analytics Driven Contact centre to understand, predict and resolve customer queries

Customer

Journey

Analytics

Real-time customer targeting using behavioural and predictive analytics

Location and context-based marketing, with geo fencing for notifications

Digital marketing and enhanced lead capturing based on app & transaction behaviour

Real-time

Contextual

Offers

Customer segmentation for retail Loans, other financial products (Life/General Insurance,

Mutual Funds, Securities etc.) and Cards products based on eligibility rules

Automated Business Intelligence reports and dashboards to understand business

performance and key gaps

Process

Efficiency

Improve existing product propensity models to include customer transactional patterns,

clickstream behaviour, demographics and social media events & triggers

Execute and track cross selling campaigns to identify key product , transactional and

channel preferences

Enhanced

Cross Sell

Models

15

Adoption of innovation elements to our ‘Go Digital Be Digital’

strategy

We are improving efficiency and bringing substantial reduction in cost to income ratio to the Bank by

stitching several innovation elements to YONO ecosystem

Chatbot with 850+ FAQs to start with. Advanced features being added in phases.

Personal Financial Management (PFM) – Aggregation of customer data from various sources and help

customer manage and invest own finances with the help of sophisticated algorithms.

Biometric Authentication – Standardizing customer authentications to YONO app with Enrolment,

Verification & Authorization

Sound based peer to peer funds transfer – Facilitating Peer to Peer and Consumer to Merchant

payments using secure sound-wave communication technology

Internet of Things (IoT) based offerings – IoT driven B2C payments, smart home payments and Beacons

to introduce mobility in banking

Robotic Process Automation – Automatic repetitive tasks such as day-to-day reconciliations, report

generation, auto closure of loans etc.

Credit Assessment using Machine Learning & Deep Learning – Improve future credit assessment and

underwriting logic through iteratively learning from data and finding hidden insights.

Cyber security risk monitoring using Cognitive computing – Identify potential security threats through

cognitive computing based adaptive security tools and continuous cyber risk monitoring softwares.

Blockchain – Bringing step function improvements in terms of speed, convenience, costs, transparency and

security across applications such as payments, financial asset transfers & smart contracts.

16

Thank you