Commercial Bank Management

Group 9 : Ashutosh (380) | Rhea (412) | Sakshi (416) | Saloni (417) | Shakthidhar (420) | Vipul (427) | Gurpreet (441)
Introduction

Largest Bank in World’s Largest Democracy

Vision – Harnessing technology to meet its mandate as a

public sector bank to advance economic development in the
country, and to bring prudence in lending with early warning
signals on bad loans and for fraud prevention.

Major Innovation – YONO: You Only Need One

Introduction
YONO: Lifestyle and Banking, Dono!
Redesigning the Customer Journey – from physical at branches leading to digital, becoming
Concept
digital leading to physical

What is YONO? Accessibility Services

Integrated digital banking and An Omni Channel platform • Mobile Banking

lifestyle platform: One-stop offered as a smartphone App: • Integration with e-
solution for banking, Accessible for both Android commerce companies for
investment, insurance and and iOS shopping, bookings (travel,
lifestyle needs stay, movies) & much more

SBI has a 30% market share in the digital space 24 million registered users
Introduction
Key Features

• Instant account opening

• Complete Paperless and time-saving transactions
• Unified app for Lifestyle Expenses and Banking
• Fund transfer via UPI
• Simple user-interface design
• Smart Spending – Spend Analysis
• Pre-approved personal loans on the move

Benefits

• Exclusive discount offers and special deals

• Access to all the financial products from a single app
• Overdraft facilities against fixed deposits
• Benefits of AI based spend analyser
• Easy access to internet banking
 People

• Engineers and tech developers

• Relationship managers, front end staff that elaborate and guide the usage
• Helpline call attenders

Physical Evidence

Marketing • YONO acts as a facilitator, reducing one’s trips to the bank. The app provides
receipts, information, options to print data and more.

Mix • Document exchanges are done in a e-version on the app but supported by
offline verifications etc.

7 Ps Process

• The delivery of the Yono app is simply through the usage of the app once
downloaded. However, the banking process is delivered depending on need.
• Once set up, most activities, applications and transfers are done
independently and online.
• Things like loans are applied for through the app, and then supported by a
relationship manager or a front-end staff member for document
verification(at home or in branch), signing off on the final activities is an
offline process.
 Product

• Integrated platform for digital/mobile banking

• Ease of managing financial transactions such as booking flights, trains, online shopping
• Smartphone App for both Android and iOS and website
• Apps such as SBI Buddy integrated with YONO

Price

• No charges to avail cardless withdrawal facility at ATMs using YONO

• YONOCash transactions at the ATM are over and above the ATM transaction limit

Marketing
Mix Place

• Customer can open YONO account at SBI branches as well as digitally

7 Ps
• savings account could be opened from home by authenticating using Aadhar and OTP
• Biometrics registration needed to be done at branches

Promotion

• TV commercials and online ads targeting increased usability and convenience through
using YONO for all online transactions
• SBI has partnered with 60 e-commerce players such as Amazon, Ola, Flipkart, Yatra,
Swiggy and BYJU’s to attract customers
• Low processing fee and pre-approved personal loans
 4Cs SBI YONO
 Single and unified digital platform for financial
services and lifestyle shopping
 SIA bot facility to address customers’ queries,

removing the hassle to call SBI helpline
One view dashboard to view all investments,
cards, insurance and banking transaction
 Intelligent spend analysis to track expenses
across categories
 Empathetic banking: Curated offers and
continuous improvement of financial services
to target customers based on their life events,

location, past transaction history, etc
Conversational marketing: Through FB Click-to-
messenger ads SBI offered a personalized and
conversation-led experience to their customers
who were not used to doing digital
transactions, thus encouraging them to
download the YONO app
 Voice enabled interactive ad to promote
banking from home
 Innovative campaigns through its social media
platform such as #GharSeBanking, “20 under
20” to felicitate young leaders
CUSTOMER
 Its omnichannel services allows its customers to
access services on the go
 Can easily set up the digital account
 Eliminates hassle of visiting SBI branches
 Considerable amount of time and efforts saved
CONVENIENCE  Simple and minimalistic user interface helps
customers access information easily in real
time
 YONO Cash: No need to carry debit cards to
withdraw cash in ATMs
COMMUNICATION
 Zero cost to set up the digital account. Saves
the time and efforts of consumers to access
financial products
COST  Zero processing fees on loans through YONO
app reduces the cost for its customers while
availing loans
 Festive offers with discounted interest rates on
loans
Value addition to Customers
Privacy
• Customers are becoming increasingly
aware of data privacy issues
• Hence, the app instead of asking for
access to all information at the time
of installation can ask for information
only when its is required for service
• This will increase customer
confidence
SBI Fastag
• The intent of the YONO app is to
provide one-stop solution to its
customers.
• Hence, the next obvious step is to
integrate SBI Fastag into the YONO
platform for easier access to Fastag
services for customers
Additional Information
• There are instances when customers
face transaction failures/pending
transactions due to network issues
or technical glitches
• For such cases, information should
be provided to consumers on the
status of their transaction along with
a notification when it gets cleared
Additional Options
• The YONO app has the capability to
sanction personal loan to consumers.
• However, it does not provide the user to
select a repayment schedule which may
have been available had it been
sanctioned at the branch.
• Similarly, while applying for debit cards,
the customer is not provided the choose
from the various option available.
• Hence, adding these options would add
value to consumers
Modify Profile Information
• Many customers feel the need to
update their profile information, e.g.,
mobile no., email address, residential
address etc.
• The current app has capabilities of
changing a couple of these
information but not all
• Hence, it should look at providing a
secure way to allow modification of
such details
Extension to Merchants
• The YONO app currently caters to only
its retail customer segment.
• It also has a significant merchant
customer base.
• Many features of the current app such
as small ticket loans, overdraft facilities
are of significance to merchants
• Hence, introducing a merchant version
of the app will add value to its
merchant customer base.
Marketing Support
# Current issues in Vocal for Local User Persona Merchant Offer

User unawareness of local offerings

A Cake shop/ Gift house
Reach to larger audience; Concepts & strategies; Resources & funds creating offer ad to target User’s
Special Event
family/friend
B’day/Anniversa
Target ry
Create Ad Reach User
User at
Grocery/Dairy/Chemist targeting
Solution: Users on purchasing frequency
Empower Location based
MSMEs profile
with ATM
Marketing Merchant
support to Offer + User
profiles
MSME market Size(6.33 Crores)
Mi Filter the user

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Issues in Business
Development
Being a leading bank in the country, SBI caters to a large population and due to low
Scaling - Up penetration of internet with lower tech-inclusivity, there might be small user base for the
application.

A bank’s mobile experience needs to be fast, easy to use, fully featured (think live chat,
Technical and voice-enabled digital assistance, and the like), secure, and regularly updated in order to
Developmental Issues keep customers satisfied. And since, switching cost for the customers is low, any technical
and developmental issue might lead to customer loss.

FinTech have become some of the most profitable areas in Financial Services and thus,
Increasing Competition – attracting a lot of new entrants. In order to survive in such a competitive environment and
Entering a Red Ocean achieve high customer retention, SBI would need to innovate continuously leading to
increasing pressure on available resources and need for more.

Mobile bank apps use confidential data like phone numbers, addresses, DOB or bank
account information. The personal information of customers can’t be exposed in the public
Regulatory Compliance domain and with increasing data, regulatory requirements also become stringent, affecting
the smooth delivery of the services.
Thank You