SBI's next challenge: Keeping digital banking app YONO ahead of the curve

Bank enters uncharted territory as it looks to license app, which it values at $40 billion

When State Bank of India (SBI) launched its digital banking application, You Only Need One (YONO), most thought the largest bank in the country was playing catch-up.
 
Now, as the bank plans to monetise the app and the chairman pegs its enterprise value as high as $40 billion others are trailing instead.
 
Since its launch in November 2017, the app has seen a huge rise in subscription and range of products offered. Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app.