SBI YONO 2.0 Launch: State Bank of India Reportedly Targets 20 Crore Users, Plans to Hire 6,500 Staff

The State Bank of India (SBI) on Monday launched YONO 2.0, the revamped version of its digital banking and services platform, in India. The platform was unveiled during an event in Mumbai. During the launch of the updated SBI YONO 2.0, a senior executive reportedly revealed the financial institution's plans to hire over 6,000 new employees, which is expected to help the bank migrating its customers to its updated digital services channels, like the mobile app and the web portal.

SBI YONO 2.0 Digital Banking Platform Integrates Mobile and Internet Banking

According to a Mint report, SBI YONO 2.0, the bank's revamped digital banking platform, was launched in India on Monday, eight years after the bank first launched the YONO digital banking platform. YONO 2.0 is reportedly less resource-intensive, and it is touted to be “a simpler and lighter” app, which can also function on phones with less capable hardware and in locations with poor cellular and internet connectivity.

Users can check their account balance, transfer money, pay bills, and make Unified Payments Interface (UPI) transactions from the new SBI YONO 2.0 mobile banking app, the report added. The bank reportedly rebuilt its UPI payments stack to compete with widely used platforms like Google Pay and PhonePe. It will also introduce “simplified KYC and re-KYC processes”, which is said to reduce the number of times a user has to go through the verification process.

SBI's new YONO 2.0 digital banking platform also offers reinforced and strengthened security features, such as transaction controls and a fresh OTP generation process, which will reportedly reduce payment delays caused by “weak” networks.

A CNBC TV18 report states that the SBI YONO 2.0 digital banking platform integrates mobile banking and internet banking into a single backend architecture. This means that the mobile app and the internet banking portal use a common user interface and technological infrastructure. This is said to help the financial institution's customers switch between the two platforms “without disruption”, while also enhancing continuity “across channels”.

During the YONO 2.0 launch event, SBI Chairman CS Setty, reportedly revealed the institution's plan to onboard 200 million (or 20 crore) digital users onto its updated digital banking platform. To make this happen, SBI is reportedly looking to hire 6,500 new employees by March 31, 2026, out of which 3,500 positions have already been filled.