India's largest lender State Bank of India (SBI) has introduced a new feature to its Yono Lite app. This new feature will work as a layer of safety for customers and the rise in fraud in digital transactions and users of this app can do financial as well as non-financial transactions safely. SBI customers can update their existing app to keep using the SBI Yono Lite.
SBI informed its customers about this new feature through a tweet, "Now online banking is more secure than ever with SBI! Download the latest YONO Lite app now".
All you need to know about SIM binding feature?
SIM binding feature is a new technology that makes online banking more secure than ever by allowing only one user per device with a registered mobile number. Customers have to finish a one-time registration process with the registered mobile number available on your phone after updating the Yono Lite app version 5.3.48.
Yono Lite
Yono Lite is a safe, convenient and easy to use application with a host of features to help users manage their finances . This app is SBI's retail internet banking based application for smartphones.
Yono Lite app - New registration process for SBI customers
For Android users - registration process
-Visit Playstore and download and open the YONO Lite SBI app
-To complete the registration process, choose SIM 1 or SIM 2 which is registered with SBI. In the case of a single SIM, no SIM selection is required.
-An SMS from the device for validating the mobile number, a message will be shown on the screen.
-Click on the ‘Proceed’ button and an SMS containing a unique code will be sent from the device to a predefined number.
-Sending the SMS standard SMS charges are applicable as per your SMS plan.
-Fill username and Password and click the REGISTER button on the registration screen.
-Select the checkbox and click the ‘Ok’ button to accept the Terms and Conditions for registration.
-An activation code will be sent to the registered mobile number. This activation code will be valid for 30 minutes.
-By inputting the Activation code in the app, the user has to complete the activation process.
-This process will allow customers to log in to the YONO Lite application.
For iOS users - registration process
-Visit App store and download and open the YONO Lite app. An SMS from the device for validating the mobile number will be displayed.
-Click on the ‘Proceed’ button, a unique code will be auto-filled in the default SMS app with a pre-defined Number. The user must send the SMS within 30 seconds from the Phone number linked with SBI Account to proceed. For sending the SMS standard SMS charges are applicable as per your SMS plan.
-Enter Username and Password and click the REGISTER button on the registration screen.
-Select the checkbox and click the ‘Ok’ button to accept the Terms and Conditions for registration. An activation code will be sent to the registered mobile number.
-The user has to complete the activation by inputting the Activation code in the app.
-Users can now log in to the YONO Lite application.
"Bank Securely with YONO SBI! YONO SBI is levelling up its security features. The new upgrade will allow access to YONO SBI only from the phone which has the mobile number registered with the bank," earlier, SBI had tweeted about the new version of the SBI Yono app.
Account holders should log in only if they are using the mobile phone number that is registered with the bank. SBI YONO will not allow account holders to make any transaction if they try to log in with a different number.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
