CS Setty: SBI YONO 2.0 Prioritizes User Growth, Cost Cuts; Monetization Delayed

• SBI will delay monetizing or listing its digital platform YONO, prioritizing customer adoption and cost reduction.
• YONO 2.0 aims to cut cost-to-serve by 40-50% and enhance product penetration, serving as the backbone for SBI's digital strategy.
• SBI plans to increase YONO's user base from 9.6 crore to 20 crore in two years, with 90% of new customers onboarded via the mobile app.
• YONO 2.0 offers a uniform experience across mobile, internet banking, and branches, supporting multiple Indian languages and focusing on Gen Z.
• The platform features enhanced security, fraud prevention, and a standalone OTP generator, while SBI maintains a "digital-first, not digital-only" approach.

Why It Matters: SBI's YONO 2.0 aims to digitally serve 20 crore customers, reshaping future banking.