SBI eyes customer acquisition at 1/10th cost via TCS-developed YONO 2.0: 10 takeaways

State Bank of India (SBI) -- the country's largest lender by assets -- has launched YONO 2.0, the next-generation offering of its popular mobile app. The PSU bank aims to take the YONO user base to as high as 20 crore through the latest version. Currently, its YONO customer base stands at 9.6 crore, according to the lender.

Here are 10 key takeaways from this news:

• The YONO 2.0 is developed by Tata Consultancy Services (TCS), the country's largest IT firm.
• Noting that the cost of acquiring customers through technology is 10 times lower compared to the traditional route, SBI stated that through YONO 2.0, the customer acquisition can take place at one-tenth the cost compared to through branches.
• The latest YONO version is powered by a unified backend for the mobile app and internet banking activities, with the same user interface across platforms.
• It aims to simplify KYC and re-KYC verifications without requiring the customer to undergo verification repeatedly.
• Currently available in Hindi and English, the YONO will expand its reach to 15 Indian languages soon, according to SBI.
• The PSU bank's latest YONO app focuses on green banking, with carbon footprint tracking and a green score feature.

• SBI Chairman Challa Sreenivasulu Setty said that YONO 2.0 will be used to empower customers.
• He also said that 65 per cent of the savings accounts at SBI are opened digitally today. The footfall at branches, he said, has reduced by 80-90 per cent due to technology. YONO 2.0 will be used to empower customers, the SBI chairman added.
• He also said that YONO's monetisation is not on the table at the moment.
• Challa also confirmed that the bank has already begun its work on YONO 3.0.

8 years of YONO

State Bank of India first introduced integrated digital platform YONO -- or "You Only Need One" -- in November 2017, as a unified lifestyle and banking app designed for millennials.

SBI shares

Earlier on Monday, SBI shares ended stronger by Rs 4.3 -- or 0.4 per cent -- at Rs 967.2 apiece on BSE.

At this level, the PSU bank stock has risen nearly 22 per cent in 2025 so far, outperforming gains of 9.6 per cent and 16.5 per cent in the Nifty50 and Nifty Bank indices, respectively.