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SBI launches ‘SIM Binding’ feature to protect customers from digital fraud, know how it will work

SBI SIM Binding Feature: The new feature in SBI YONO and YONO Lite app will protect customers from digital fraud.

sbi sim binding

The country’s largest public sector bank, State Bank of India (SBI) has taken a new step to protect crores of its customers from digital fraud. SBI has launched a new security feature ‘SIM Binding’ in its Yono and Yono Lite app for the safety of customers. This will protect customers from digital fraud. YONO and YONO Lite with SIM binding feature will work only on devices whose mobile number is SIM registered with the bank.

SBI DMD (Strategy) and Chief Digital Officer Rana Ashutosh Kumar Singh said, “We are delighted to introduce SIM binding facility on two of SBI’s most popular platforms i.e. Yono and Yono Lite. With this new facility, we aim to provide better security to all our customers and provide them with a convenient and secure online banking experience. We at SBI have always endeavored to encourage our customers to avail digital banking services from the comfort of their homes and avail one-stop banking and lifestyle solutions from YONO and YONO Lite.

The new version of these platforms will protect customers from digital fraud. With the SIM binding feature, YONO and YONO Lite will work only on devices whose mobile numbers have SIM registered with the bank.

How will the SIM Binding feature work?

>> Customers need to update their mobile apps to use the new versions of YONO and YONO Lite with enhanced security features and complete the registration process once again on these apps.

>> To complete the registration process, it is necessary to have a mobile number registered with the bank.

>> Customers have to ensure that they register themselves with the device which has the SIM of the registered contact number.

YONO and YONO Lite will work with the basic rule of One Mobile Device – One User – One RMN. However, customers can use both YONO and YONO Lite on the same mobile device using RMN’s SIM with the bank. If the customer is using a mobile number which is not registered with the bank, then they will not be able to complete the registration process on YONO and YONO Lite.

The new SIM binding feature allows two different users to use YONO and YONO Lite separately in a dual SIM handset, provided both the users’ RMS SIMs are inserted in the device.

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