CS Setty, MD, SBI, tells Piyush Shukla in an exclusive interview that the launch of Yono 2.0 has the potential to engage with an additional 75-100 fintech players. Excerpts:
What are some of the key areas where SBI wants to collaborate with fintechs?
The first thing we looked at was ways to make fintech onboarding or engagement much easier than today. We have done extensive study of the fintech ecosystem and identified areas where we can collaborate. It could be on the customer journeys, customer onboarding, risk management, collections, customer experience or digital marketing space.
Scalability is also important because when you are dealing with SBI, which has 470 million customers, the volumes are very significant. For instance, the daily logins of Yono 1.0 are almost 12 million to 15 million. So if we have to make a service available to such large number of customers, we need to have tie-up with a fintech which is able to scale it up. We also keep telling fintechs that the priority of information security is critical for us.
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