World's largest Lender SBI set to launch new-gen Digital Banking platform
Dinesh Khara, the former chairman of SBI, stated on Thursday that the nation’s largest lender is developing a new version of its digital banking platform to meet the needs and preferences of its customers. Khara, who retired on Thursday and gave a special speech at the Global Fintech Fest 2024 in Mumbai, also said that a banker should always think about risks, even though people often ignore risks when they shouldn’t.
Expressing that YONO has 80 million enlisted clients today with very nearly 10 million clients signing in at the stage every day, he said in many regards, it would be a record of sorts across the globe.
Khara stated that the platform that enables customers to access their banking services and products from a single location generated loans worth 1.7 billion last year, and that YONO has expanded to a variety of international locations.
He further said SBI serves 50 crore users today, which is close to 33% of the nation’s populace and when we serve them, we need to deal with a wide range of clients and their inclinations in the midst of computerized loaning turning out to be progressively famous. However, he went on to say that the infrastructure of the system has improved, and that unsecured lending can be avoided with an adequate assessment of the income flows.
Regarding this Khara added, “We had envisaged YONO only as a retail solution and initially it was thought to replace internet banking but when we launched it, we thought that it should be much more than that, (as) it serves all banking and financial needs today. We're working on YONO 2.0 where it should be made more modular and faster in terms of processing”.
