The firm confirmed the development through its official communiqué yesterday and also said that the move is aimed to increase SBI’s digital customer base significantly.
The communiqué stated that SBI YONO will help in boosting the e-payments business. SBI YONO is a revolutionary omnichannel platform that offers digital banking, commerce and financial superstore services to customers.
Further, the firm believes that YONO’s digital banking features and solutions will be enabled through the MyJio platform for a hasslefree and integrated customer experience.
“The scale of the SBI customer base is unmatched globally. Jio is committed to using its superior network and platforms combined with the Retail ecosystem to accelerate digital adoption serving all the needs for SBI’s and Jio’s customers,” said Mukesh Ambani, Chairman, Reliance Industries Limited.
Reliance adds that Jio and SBI customers will be significantly benefited from Jio Prime, a consumer engagement and commerce platform from Reliance Jio.
This new offering will enable the customers to receive exclusive deals from Reliance Retail, Jio, partner brands and merchants.
“As India’s largest Bank with leadership in digital banking, we are delighted to partner with Jio the world’s largest network. All the areas of co-operation are mutually beneficial in enhancing the digital foot-print for SBI customers with superior and rewarding customer experiences,” said Rajnish Kumar, Chairman, SBI.