New Delhi, July 1 (IANS). State Bank of India (SBI), the country’s largest public sector bank, on Wednesday announced the launch of several new Artificial Intelligence (AI) based digital facilities for customers on the occasion of its 71st Bank Day. The Bank has further enhanced its YONO platform with new customer experience, AI-based capabilities and several industry first features.
SBI said that now new customers will be able to open a savings account, demat account and trading account with SBICAP Securities Limited simultaneously through a single digital process (3-in-1 onboarding), making the start of investment easier and faster than before.
Additionally, eligible customers will now be able to convert their savings account to a corporate salary account online or even upgrade an existing salary account online without visiting the bank branch.
The bank has also launched an industry-first feature called Sustainability Journey on YONO, through which customers will be able to track carbon emissions savings through digital banking transactions and also see their green score every month.
Along with this, the facility of Financial Fitness Score has also been added to YONO. This feature will provide customers with an integrated analysis of their bank accounts, loans, investments, insurance and spending patterns, enabling them to better understand their financial situation.
SBI has also expanded the eTrade facility on its YONO business platform. Now the entire trade finance services of the bank will be available on the mobile platform. Through this, corporate and MSME customers will be able to view, track and authorize inland, import and export trade finance transactions securely from anywhere. This will speed up decision making, increase operational efficiency and enable better monitoring of the entire trade finance cycle.
The bank has also launched a new agentic AI-based virtual assistant called YONO G, which will be available 24×7 on YONO Business’ web and mobile platforms. This will provide customers with faster and personalized assistance by providing immediate responses to queries related to the Bank’s products, platform features and various services.
SBI Chairman Challa Srinivasulu Setty said that all these new initiatives reflect the bank’s commitment to make banking simpler, smarter and accessible to all by using artificial intelligence, digital innovation and data-based technologies.
He said that through new features like financial wellness, sustainable lifestyle, AI-based business banking and mobile trade finance, SBI is creating an integrated digital ecosystem that will strongly support the country’s growth journey towards the goal of ‘Develop India 2047’.
–IANS
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