To safeguard the interest of its customers, Country’s largest lender State Bank of India (SBI) has launched a new and enhanced security feature ‘SIM Binding’ in YONO and YONO Lite. The new version of these platforms will protect customers from various digital frauds.
With the SIM Binding feature, YONO and YONO Lite will work only on those devices which have SIM of mobile numbers registered with the Bank. To access to the new version of YONO and YONO Lite, users will have to update their mobile app and complete the one-time registration process on these Apps. The registration process verifies the SIM of the Registered Mobile Number (RMN) with the bank in order to complete the registration.
YONO (You Only Need One) is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as flight, train, bus and taxi bookings, online shopping, or medical bill payments.
YONO is offered as a smartphone app for both Android and iOS. YONO was launched in 2017.