YONO, the acronym for 'You Only Need One', will be the first digital banking platform to offer customised products and offers from over 60 e-commerce players by leveraging analytics, besides a range of banking and financial services, the SBI release said here.
"In addition..., YONO will also allow customers to meet their lifestyle needs across 14 categories including booking and renting cabs, entertainment, dining experience, travel and stay, medical needs and so on," it said.
To provide the customised offers and discounts, SBI has partnered with e-commerce players including Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus, it said.
The SBI said the product employs the latest digital technologies such as artificial intelligence (AI), predictive analytics and machine learning, and can be accessed through a mobile application and web portal.
"This will also be the first to offer online purchase and view of insurance policies within the portal, without redirecting customer to respective service provider, and to seamlessly access and purchase investment products," the release said.
"Customers will be able to seamlessly access... services with a single user ID and password. The portal has been designed with minimum possible clicks and easy to understand descriptions," SBI Chairman Rajnish Kumar said in a statement.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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