SBI to launch ‘Yono Global’ app in Singapore, US soon


New Delhi: State Bank of India (SBI) will soon launch its ‘Yono Global’ mobile banking app in Singapore and the US. The app will provide digitized remittance and other services to its customers, said Vidya Krishnan, Deputy MD (IT).

“We are continuing to invest in Yono Global to offer the best services available as we strive to give our customers a better experience,” Krishnan told PTI at the three-day Singapore Fintech Festival (SFF), which ends on 17 November.

Krishnan held discussions with Singapore-based digital platform enablers and the local regulator and central bank, the Monetary Authority of Singapore (MAS). “We are always working on the payment situation between India and Singapore, due to the large number of Indian diaspora in the city-state.”

SBI Yono Global services in nine countries

Currently, SBI provides Yono Global services in nine countries, starting with UK operations in September 2019. SBI’s foreign operations have a total balance sheet size of USD 78 billion. In Singapore, SBI is integrating its Yono Global app with PayNow and aims to launch it soon.

Meanwhile, speakers at SFF highlighted the importance of emerging technologies, especially artificial intelligence (AI), recognizing the need for human touch and emotion in interpersonal interactions.

Oscar-nominated film director Shekhar Kapur said, “One thing AI is going to do is change everything. Change happens a lot.”

In competitions held on testing technologies, Nikhilesh Goel of Indian origin, Co-Founder and CEO of Validus Capital Group, based in Singapore, was named among the winners for the Individual Category (in recognition of C-Suite leaders).

Validus targets Southeast Asia’s leading SMEs with all-in-one business finance.

(With PTI inputs)

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