Introduction
The State Bank of India, popularly known as SBI, is India's largest commercial bank with a glorious history of more than 200 years. State Bank of India, owned by The Government of India, is categorized as an Indian multinational, public sector banking and financial services company, with its headquarters located in Mumbai, Maharashtra.
SBI Digital products are introduced to enhance customer experience with the banks products. The primary aim of SBI digital products is to provide simpler, faster & easier access to all the products & services offered by the banks. This article discusses about some of the prominent SBI Digital Products that enhance customer experience.
Products
State bank buddy is a mobile wallet app that allows the users to send or ask for money from any of the contacts even if they do not have an account with SBI. It is a unique blend of payment and banking service. SBI Buddy is the best in market-wallet and has radical collaborations with merchant partners for exceptional shopping and payment experience. With the help of State Bank Buddy, the users have the freedom to recharge mobile/DTH, pay bills, book bus/flight/movie tickets, and send money to anyone 24x7 on the move.
State Bank Buddy Service Charges
Service charges for fund transfer through Mobile Wallet SBI Buddy to Bank Account @ 3% plus Service Tax transfer from SBI Buddy to Bank Account via IMPS.
| Features | |
|---|---|
| 1 | Load money into user wallet |
| 2 | Pay bills and recharge mobile/DTH |
| 3 | Instant transfer of money to the bank account |
| 4 | Book movies/Hotels/flights or shop online |
| 5 | Transfer money to the contacts on Facebook or Phonebook. |
| Transaction Limit on Wallet with Nil KYC | ||
|---|---|---|
| 1 | Maximum Balance | 10,000/- |
| 2 | Total reload in a month | 10,000/- |
| 3 | Top up through any channel/ transaction | 10,000/- |
| 4 | Daily limit of total transactions (merchant transaction and fund transfer) | 15,000/- |
| 5 | Monthly limit of total transactions (merchant transaction and fund transfer) | 20,000/- |
| 6 | Per transaction limit of fund transfer (Transfer to Account) | 2,000/- |
| 7 | Daily limit of fund transfer (Transfer to Account) | 2,000/- |
| 8 | Monthly limit of Fund Transfer (Transfer to Account) | 20,000/- |
| 9 | Cash out at ATM per transaction | Not allowed |
| Transaction Limit on Wallet with Full KYC | ||
|---|---|---|
| 1 | Maximum balance | 50,000/- |
| 2 | Total reload in a month | 50,000/- |
| 3 | Top up through any channel/ transaction | 10,000/- |
| 4 | Daily limit of total transactions (merchant transactions and fund transfer) | 50,000/- |
| 5 | Monthly limit of total transactions (merchant transactions and fund transfer) | 1,00,000/- |
| 6 | Per transactions limit of fund transfer (Transfer to Account) | 5,000/- |
| 7 | Daily limit of fund transfer (Transfer to Account) | 5,000/- |
| 8 | Monthly limit of fund transfer (Transfer to Account) | 25,000/- |
| 9 | Cash out at ATM per transaction | Presently not available |
SBI Digital Village is a comprehensive initiative to create a cashless ecosystem in every village. It also provides an approach to Government supported digital initiatives in health, agri-schemes & social security, educations, subsidies, and benefits. Initially, this facility is being implemented in the selected 21 villages across the nation.
Through Digital Village, the bank can connect people by providing Net banking, ATM cards, Green channel banking, Mobile banking, Self-service passbook printing machines, Wallet banking, POS, Cash Deposit Machines and Micro ATM at the village locations. Digital Village aims to improve the standard of people especially in villages and is considered as a part of Corporate Social Responsibility (CSR).
SBI Digi Voucher is a green initiative of SBI that allows you to access online to various forms, transactions slips, and challans through an APP. It also saves your valuable time to get direct access to the teller counter by allowing you to pre-complete transactions form online.
SBI Mingle is the social banking app which permits the users to perform the basic banking activities via SBI official page. It provides the convenience of banking on Twitter and Facebook through an App-based interface. Customers can perform all transactions anytime and anywhere just by logging in to their social media account.
| How to Start | |
|---|---|
| 1 | Users need to access SBI Mingle app from the Official SBI Facebook Page. |
| 2 | Once the access to the page gets established, you need to register. |
| 3 | After registering, Sign in to the app. |
| Security Aspects | |
|---|---|
| 1 | Social banking channel of SBI is protected by advanced security features, both logical and physical. |
| 2 | To reach our server Firewalls allow only valid web traffic. |
| 3 | SBI has extended various security measures to protect the users and has also regarded various risks inherent in transacting over a public network. |
| 4 | The bank has also installed mechanism such as Intrusion Dedication System. |
| 5 | Proven 256-bit Secure Socket Layer encryption technology is installed to ensure that the information exchanged between your dedicated URL and computer over the Internet cannot entrench upon and is secure. |
| Control Measures | |
|---|---|
| 1 | Access to Social banking is offered only by registering. |
| 2 | User ID and Password are generated through OTP, subject to verification. |
| 3 | User ID and Password generation is conducted in a secure environment and its distribution is computerized. |
| 4 | The second factor of authorization that is OTP is required for all transactions. |
| 5 | Customers can modify and fix the limits on the monetary value of transactions which they wish to carry out. |
State Bank Scribe is a unique, first of its kind service offered by SBI. SBI Scribe is an innovative real time digitization platform that captures all the customer information in one go. It is handwritten and enables immediate account activation. On July 1, 2016, the 61st SBI Bank day, SBI introduced SBI Scribe to provide every customer a digital and easy banking experience. SBI is now able to open user account by capturing the data digitally and verifying the data entered in real time thereby improving overall banking experience with SBI. SBI values customer time and user experience. Customers can use the same pen and paper that they are comfortable with to fill the application form. SBI has built in technical smarts (intuitive user interface) to take care of the rest.
SBI Scribe is a convenient and user friendly account opening process that enables immediate account activation. SBI Scribe is simpler, faster and easier. The traditional wait for account opening is now history. There is no more delayed account opening process and no more long queues. Customers can now visit the nearest SBI branch and open an account in a jiffy. SBI Scribe is a step closer to being The” Banker to Digital India”.
| Process | |
|---|---|
| 1 | Fill up the account opening form on the digital board at the bank |
| 2 | Walk-in with the KYC documents and Photographs(passport size) KYC Documents - Address Proof + ID Proof - Originals + Photocopies Valid KYC Documents - Passport, Aadhar Card, Voter ID Card, NREGA Card, PAN Card, Drivers License |
| 3 | Walk-out with an Account Number |
SBI SmartWatch allows banking through your State Bank SmartWatch. It offers a unique banking experience which is in tune with the technology of the future.
SBI Video Statement is the plan to view the account statement with dashboards and spend analysis. It comes for the visually challenged customers with a friendly audio narration.
SBI YONO app is an integrated digital banking platform that enables the users to access a variety of financial services and other services such as online shopping, taxi bookings, travel planning, offline retail, online education, or medical bill payments. With YONO, customers only need one application for all the mobile banking services such as cashless bill payments, loans, fund transactions, & bank account opening, investments, insurance and daily shopping needs.
| Features | |
|---|---|
| 1 | Users can open a digital savings account in less than 5 minutes. |
| 2 | Intelligent funds transfer with UPI enabled payments. |
| 3 | Easy to understand interface, simple and intuitive navigation. |
| 4 | Link and view all SBI group relationships in one app. |
| 5 | Offers exclusive discounts for SBI customers across a large number of e-commerce merchants. |
| 6 | Offers pre-approved personal loans on the go up to Rs 1 lacs without any documentation in just 2 minutes. |
| 7 | Intelligent spending analysis using categorization and smart auto-tagging of the transactions. |
| Steps | |
|---|---|
| 1 | Download SBI YONO app from Google Play Store. |
| 2 | Click to Install the app & accept all the terms and conditions. |
| 3 | Open the app & sign in with the number linked to the bank account. |
| 4 | Verify the bank account with the linked phone number through OTP. |
| 5 | The app is ready to be used. |
| How to Link SBI Card to YONO App | |
|---|---|
| 1 | All you need is the number which you have registered with SBI card. |
| 2 | Go to the Credit Card block of the app and click on ‘Link SBI Credit Card’ icon. |
| 3 | Enter the username & password to login your account. |
| 4 | Click on Send OTP. You will receive an OTP on the number. |
| 5 | Enter the OTP. |