From ongoing memes to personal experiences, banking does come across as one of the most complicated matters for Indians living beyond the seas. Factors such as exchange rates and complex paperwork give users a tough time.
Although UPI is expanding beyond borders, banking remains a challenge for most overseas Indians. However, SBI’s recent venture provides a big relief, as they are expanding their YONO Global application to Singapore and the US.
Vidya Krishnan, SBI’s Deputy MD (IT), mentioned that the bank is committed to ongoing investments in YONO Global to ensure superior customer experiences.
Krishnan, SBI’s Deputy MD (IT), has engaged with Singapore-based digital platform enablers and regulators to integrate YONO with PayNow for a launch in Singapore. Emphasizing the importance, she highlighted ongoing efforts to enhance remittance services for the significant Indian diaspora in the city-state, as reported by PTI.
As of now, YONO can be accessed in 9 countries, starting its expansion in 2019 with the UK.
Though India has a robust banking system, in the last couple of years, it started to expand. This expansion will not only help India have a stronger grip on global standards but will also make life easier for many Indians living overseas.
