Jio, SBI deepen partnership for digital banking, payments

Jio and SBI are entering into a digital partnership aimed to increase SBI’s digital customer base multi-fold.

SBI YONO is offering digital banking, commerce and financial superstore services to customers.

YONO’s digital banking features and solutions will be enabled through the MyJio platform for integrated customer experience.

MyJio will now bring in financial services capabilities of SBI and Jio Payments Bank.

Jio and SBI customers will benefit from Jio Prime, a consumer engagement and commerce platform from Reliance.

Jio Prime will offer exclusive deals from Reliance Retail, Jio, partner brands and merchants. In addition, with an integration between SBI Rewardz (existing loyalty program from SBI) and Jio Prime, customers of SBI will be offered additional loyalty reward earning opportunities as well as broader redemption within Reliance, Jio and other online and physical partner ecosystems.

SBI will be engaging Jio as one of its preferred partners for designing and providing network and connectivity solutions.

Speaking on the partnership, Rajnish Kumar, Chairman, SBI said, “As India’s largest Bank with leadership in digital banking, we are delighted to partner with Jio the world’s largest network. All the areas of co-operation are mutually beneficial enhancing the digital foot-print for SBI customers with superior and rewarding customer experiences.”

Mukesh D. Ambani, Chairman, Reliance Industries Limited said, “The scale of the SBI customer base is unmatched globally. Jio is committed to using its superior network and platforms combined with the Retail ecosystem to accelerate digital adoption serving all the needs for SBI’s and Jio’s customers.”