What are super banking apps? How are they transforming the banking system in India?
1. SBI YONO
SBI YONO stands for “You only need one”. It is a project of the bank to connect all the customers of its joint venture via digital technologies such as the dedicated application âYONO Mobile Appâ and the âYONO Websiteâ. It is designed to bring together all the services offered by the bank under one roof / application and provide more convenience to its customers.
Only the holder of an SBI bank account can use the YONO application. SBI clients can integrate all their products and services from their bank account, such as SBI Mutual Fund, SBI Card, SBI General Insurance, SBI Life Insurance and SBI Securities using the YONO app and website.
In this peer group, Paytm is just a payment bank that has a large customer audience for its app. Paytm has user bases of approximately 333 million retail customers and over 21 million merchants who use its services, which include payment, cloud, commerce and financial services. Its two-way ecosystem – consumer and merchant – facilitates access to commerce and financial services by harnessing technology to improve the lives of customers and help merchants grow their businesses.
Paytm payment bank is a super banking app with strong digital product support from its fintech app for its customers. By the end of fiscal year 2021-2022, Paytm could launch its advanced super app by then and is expected to add 2,000 to 3,000 app developers to its mini app store and app by then. great banking app.
3. The world of BOB
Bank of Baroda’s state-of-the-art and feature-rich mobile banking app is known as bob World. From simple balance requests to cardless cash withdrawals, this app puts over 190 banking services at your fingertips. The bob World mobile app has been designed to give you a frictionless and hassle-free experience. The app spreads over 220 services across four pillars: saving, investing, borrowing and buying.
bob World is a new addition to the peer group with an updated identity. It offers digital services to bank customers digitally, 24 hours a day, anywhere in the world. With bob World, customers have access to a full range of digital products and services, including account management, loans and payments.
HDFC Bank’s PayZapp is a comprehensive digital payment and finance solution that allows customers to pay with just one click of the app. PayZapp allows customers to shop on their phone in partner apps, shop for groceries, buy movie tickets, shop online at SmartBuy and get great discounts, book or compare plane tickets and hotels, send money to anyone on your contact list or bank account, pay bills in the blink of an eye and top up your mobile, DTH and card data, among others. You can use PayZapp to link your debit and credit cards from any bank and experience the easiest and most secure payment method available.