What are Super Banking Apps? How are they transforming the banking system in India?

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1. SBI YONO

SBI YONO means “You only need one”. It is a project of the bank to connect all customers of its joint venture through digital technology such as the dedicated application “YONO Mobile App” and the “YONO Website”. It is designed to bring together all the services offered by the bank under one roof/application and provide convenience to its customers.

Only the holder of an SBI bank account can use the YONO application. SBI customers can integrate all their products and services from their bank account, such as SBI Mutual Fund, SBI Card, SBI General Insurance, SBI Life Insurance and SBI Securities using the YONO app and website.

2. PayTM

2. PayTM

In this peer group, Paytm is just a payment bank that has a large customer base of its application. Paytm has user bases of approximately 333 million retail customers and over 21 million merchants using its services, which include payment, cloud, commerce and financial services. Its two-sided ecosystem – consumer and merchant – facilitates access to commerce and financial services by harnessing technology to improve the lives of customers and help merchants grow their businesses.

Paytm payment bank is a super banking app with strong digital product support of its fintech app for its customers. By the end of the 2021-22 fiscal year, Paytm could launch its super advanced app and is expected to add 2,000 to 3,000 app developers to its mini app store cum super banking app by then.

3. The BOB World

3. The BOB World

Bank of Baroda’s state-of-the-art and feature-rich mobile banking application is known as bob World. From simple balance inquiries to cardless cash withdrawals, this app puts over 190 banking services at your fingertips. The bob World mobile app was designed to give you a frictionless and hassle-free experience. The application divides more than 220 services into four pillars: Saving, Investing, Borrowing and Buying.

bob World is a new addition to the peer group with an updated identity. It offers digital services to bank customers digitally, 24 hours a day, anywhere in the world. With bob World, customers have a full range of digital products and services, including account management, loans and payments.

4.HDFC PayZapp App

4.HDFC PayZapp App

PayZapp from HDFC Bank is a complete payment and digital finance solution that allows customers to pay with just one click on the app. PayZapp allows customers to shop on their phone in partner apps, grocery stores, buy movie tickets, shop online on SmartBuy and get great discounts, book or compare movie tickets. flights and hotels, send money to anyone on your contact list or in your bank account, pay bills in the blink of an eye and top up your mobile, DTH and data card , among others. You can use PayZapp to link your debit and credit cards from any bank and experience the easiest and most secure payment method available.

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