Shiv Kumar Bhasin
CIO Sep 02nd 2018 A-A+

Shiv Kumar Bhasin is Global CTO at State Bank of India. He is an IT industry veteran with more than 22 years of global experience working across Fortune 500 financial services companies, as a catalyst for digital transformation, customer experience, design thinking, IoT and robotics.

Digital Strategy:

SBI’s YONO is the first digital platform in India to offer a Single Customer View (SCV) across all banking products like CASA, TD/FD, loans, credit cards, mutual funds, insurance, demat account and so on. YONO, acronym for You Only Need One is true to its name as it is the biggest ecommerce aggregator platform, substituting over 75 leading merchant apps. 

A platform driven by AI and advanced machine learning, it is customers’ companion with real-time information about financial planning for their lifestyle needs, frequent funds transfer list, spend analysis etc. It provides smart investment advice based on customer transactions. It also features an interactive virtual assistant Chatbot SIA (State Bank Intelligent Assistant) with cognitive capability.

For instance, a YONO customer can open an Insta Savings Account, get a PAPL (Pre-approved Personal Loan) in just three clicks without visiting the Branch and with zero paperwork. It is integrated with YONO band, a wearable built on NFC technology, for ultrasonic sound waves-based proximity payments.

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