India's leading public sector bank, State Bank of India (SBI) has launched a new security feature, 'SIM Binding' in its digital banking platform YONO and YONO Lite.
According to the bank, these new features have been launched to protect the customers from different kinds of digital frauds. 'With the SIM Binding feature, YONO and YONO Lite will work only on those devices which have SIM of mobile numbers registered with the bank," the bank added.
Customers will not be able to complete the registration process on YONO and YONO Lite if the mobile number they are using is is not registered with the bank.
“We are glad to launch the SIM Binding feature in two of most popular platforms of SBI i.e. YONO and YONO Lite. With this new feature, our aim is to provide enhanced security to all our customers and help them with a convenient and safe online banking experience."Rana Ashutosh Kumar Singh, DMD (Strategy) & Chief Digital Officer, SBI
In order to use the new version of SBI YONO and YONO Lite app with with new security features, customers will have to update their YONO/YONO Lite app. The update should be followed by the one-time registration process.
The registration process verifies the SIM of the registered mobile number with the bank in order to complete the registration.
Customers must make sure that they register themselves with the device which has the SIM of the registered contact number.