Financial ServicesCustomer Service

How State Bank of India Built YONO — A USD 40B Digital Platform Serving 491M Customers

SBState Bank of IndiaSource: IBM ↗January 2023

State Bank of India partnered with IBM to build YONO, a comprehensive mobile platform combining banking, financial services, and marketplace that achieved 64 million downloads and a USD 40-50 billion valuation.

Impact

64 million

App Downloads

9 million

Daily Logins

USD 40-50 billion

Platform Valuation

7+ million

Bank Account Openings

3 months

MVP Delivery

Challenge

Needed to modernize legacy banking infrastructure to serve 491 million customers with a unified digital platform, recognizing that 60% of India's population is under 35 and increasingly online.

Solution

Built YONO (You Only Need One) — a comprehensive mobile platform combining digital banking, financial services superstore, and online marketplace using IBM Garage methodology, IBM API Connect, IBM Cognos Analytics, and IBM Consulting.

Tools & Technologies

IAIBM API ConnectWorkflow AutomationICIBM ConsultingAgentic ManagementIGIBM GarageCRM & SalesICIBM Cognos AnalyticsBusiness Intelligence

What Leaders Say

“Today, YONO has a valuation of USD 40-50 billion built in three years with IBM.”

Amit Saxena, Global Deputy Chief Technology Officer, SBI
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Full Story

State Bank of India (SBI), the country's largest bank with 491 million customers, recognized that 60% of India's population is under 35 and increasingly digital-native. To serve this evolving demographic, SBI embarked on an ambitious digital transformation to build YONO (You Only Need One) — a comprehensive mobile platform that would unify banking, financial services, and an online marketplace across all 76 business units.

Using IBM Garage methodology with agile development and design thinking, SBI and IBM delivered the initial marketplace MVP in just 3 months. The platform was architected using IBM API Connect for service integration, IBM Cognos Analytics for intelligence, and IBM Consulting for end-to-end transformation support.

The results were extraordinary: YONO achieved 64 million downloads, 9 million daily logins, over 10 million cardless ATM withdrawals, 7 million bank account openings, and 400,000 life insurance policies sold — all through the digital platform. Within three years, YONO reached a platform valuation of USD 40-50 billion, making it one of the most successful digital banking transformations globally.

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