SBI pushes for digital to improve cost efficiency

Finance Minister Arun Jaitley will tomorrow launch SBI's 'Yono', a lifestyle and financial services mobile app

Public lender State Bank of India (SBI) is taking the digital route for both customer interface and back-end processes to improve its cost efficiency. 

Chairman Rajnish Kumar said the lender’s digital initiatives have twin objectives —offering a new and innovative product to the customers as well as improving the bank’s cost efficiency. “The ultimate idea is customers should get enhanced experience. It should also result in cost efficiencies for the bank through optimisation of bank power, which we intend to use more and more for sales and customer interface, rather than most of our manpower being involved in the back-end