State Bank of India has collaborated with Reliance Jio Infocomm whereby its digital banking solution Yono will tie up with MyJio application to boost digital payment.
As a result, Yono would now be preloaded on Reliance Jio handsets and SBI customers would benefit from Jio Prime, a consumer engagement and commerce platform with exclusive deals from Reliance Retail, Jio and partner brands.
Jio customers can benefit by downloading Yono on their handsets.
Currently, about 1.5 crore of 42 crore SBI customers are using Yono now which is expected to rise after this deal.
The latest pact is going to deepen SBI and Reliance’s partnership after their 30:70 joint venture in Jio Payments Bank.
SBI will also engage Jio as one of its preferred partners for designing and providing network and connectivity solutions.
Additionally, Jio Phones will be available on special offers for SBI customers.
“All the areas of co-operation are mutually beneficial enhancing the digital foot-print for SBI customers with superior and rewarding customer experiences,” SBI chairman said.
The service will be rolled out in the next 60-90 days.