SBI Unveils New AI Features on 71st Bank Day, Enhancing Digital Services for Customers

New Delhi, July 1: The State Bank of India (SBI), the country’s largest public sector bank, announced the launch of several new artificial intelligence (AI)-based digital services for customers on the occasion of its 71st Bank Day. The bank has upgraded its YONO platform with enhanced customer experiences, AI capabilities, and features that are industry-first.

SBI revealed that new customers can now open a savings account, a demat account, and a trading account with SBI Securities Limited through a single digital process (3-in-1 onboarding). This makes the investment initiation faster and easier than before.

Additionally, eligible customers can now convert their savings accounts into corporate salary accounts online without visiting a bank branch, or upgrade their existing salary accounts online.

The bank has also launched a feature called Sustainability Journey on YONO, allowing customers to track the carbon emissions saved through digital banking transactions and view their green score each month.

Moreover, YONO now includes a Financial Fitness Score feature. This provides customers with an integrated analysis of their bank accounts, loans, investments, insurance, and spending patterns, helping them better understand their financial situation.

SBI has expanded its eTrade facility on the YONO Business platform. Now, the bank’s complete trade finance services will be available on the mobile platform. Corporate and MSME customers can securely view, track, and authorize transactions related to inland, import, and export trade finance from anywhere. This will speed up decision-making, enhance operational efficiency, and allow for better monitoring across the entire trade finance cycle.

The bank has also launched a new agent-based AI virtual assistant named YONO G. This assistant will be available 24/7 on the YONO Business web and mobile platforms, providing customers with quick answers to questions related to bank products, platform features, and various services, thus offering faster and more personalized assistance.

SBI Chairman Challa Srinivasaulu Setty stated that these new initiatives reflect the bank’s commitment to making banking simpler, smarter, and accessible to all through the use of artificial intelligence, digital innovation, and data-driven technologies.

He mentioned that through new features like financial health, sustainable lifestyle, AI-based business banking, and mobile trade finance, SBI is creating an integrated digital ecosystem that will significantly support the country’s development journey towards the goal of ‘Developed India 2047.’