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State Bank of India’s digital transformation: Taking the digitisation flame from Digital 2.0 to Digital 3.0

Shiv Kumar Bhasin, CTO State Bank of India, on the various new online and mobile banking services being offered to the bank’s customers.

State Bank has been transforming the customer experience across channels by providing state of art digital mobile apps. Banks may have just got to grips with online and mobile banking, but advances in technology and daily emerging new customer interaction channels provide a glimpse of future customer interactions for GenY customers. For transforming the customer experience SBI has launched various apps.

State Bank Anywhere
This is State Bank of India’s Retail Banking application for your smartphones. It offers single sign-on credentials with Internet Banking, so customers don’t need to remember multiple credentials for undertaking financial transactions across desktop/laptop/tablet on Internet Banking and the Mobile App on smartphones. It is an omni-channel mobile application from India’s largest bank. It offers mVisa based innovative payment engine for QR code enabled transactions. It interfaces with a safe, convenient and easy to use application with a host of features to help users manage finances on the move. SBI Anywhere offers complete control of debit card. A customer can switch on/off the debit card transactions, and you can switch on or off for e-commerce transactions to avoid any misuse of your debit card.

State Bank of India Smart Watch Banking – SBI Wear
State Bank of India has enabled State Bank Anywhere for Smart Devices Banking on Android and iOS-based smartwatches. SBI Wear offers accounts balances, and mini statements. It will be offering all transactional alerts and notifications, intuitive interface for instant mobile top-up, bill payments and fund transfers, capturing drop on floor requests, cheque book requests, etc in the next releases over 30 to 60 days.

State Bank Buddy
State Bank Buddy is the first Indian Mobile Wallet Application available in 13 languages. It comes with several features like ability to send money to registered and new users, ask for money and send reminders to settle dues, transfer additional cash into an account of your choice free of cost, recharge and pay bills instantly, book movie tickets, book IRCTC tickets, make merchant payments at large stores like Madura Fashions, Arrow, Allen Solly, Louis Philippe, etc, book flights and hotels, and shop for your favourite merchandise. Very soon corner kirana stores will be able to accept payments on their SBI Buddy Wallet.
How State Bank Buddy works:
• First time users sign up by swiping to the right
• Load money into your wallet
• Transfer money with your contacts on the phonebook
• Recharge your mobile/DTH and pay bills
• Shop online and book movies, trains, flights and hotels
• Transfer money instantly to your bank account

State Bank Mingle
SBI is offering its millennial GenY customers a new digital experience allowing them to do banking transactions as part of their everyday lives, when and where they want to on Facebook and Twitter. It’s an omni-channel experience. The Facebook application was launched on July 1, 20016. One Twitter, banking currently offered is balance enquiry and mini statement. SBI will be exploring other social media apps (eg WhatsApp and other messaging apps) as well to enable banking operations.

Customers have to register on the Facebook app for the SBI Mingle service through a simple one-time registration process using either their account number or their ATM/debit card details. After registering they can undertake various banking facilities. Currently balance enquiry, mini statement, funds transfer within SBI as well as inter-bank and beneficiary management services are available for Facebook. On Twitter, customers can use hashtags to find out their account balance, view mini statements and P2P funds transfer.

State Bank Digi Voucher
Today in the branch, customers need to fill up paper forms/vouchers for cash withdrawal, cash/cheque deposit, draft issuance, NEFT/RTGS payments, etc, to carry out the transactions. These paper vouchers require paper manufactured from 50 trees per day. To digitise this process and re-imagine the customer experience, the SBI Digi Voucher mobile application is created so that customers could fill up virtual vouchers in the comfort of their home/office on the mobile app before coming to the branch. Alternatively, if customers don’t have smartphone, they can use the kiosk in the branch to fill up the virtual vouchers. This app would be available on Android/iOS smartphones, and kiosks in branches. This application promotes green banking.

State Bank mCASH
State Bank mCASH is a P2P Funds Transfer application, and a quick way to claim funds sent by SBI customers through OnlineSBI or State Bank Anywhere. Any SBI customer having the Internet banking facility can now transfer funds to a third party without beneficiary registration, either through mobile number or email ID of the beneficiary.

At the other end, the beneficiary (with an account in any bank) can claim the fund either through State Bank mCASH Mobile App or mCASH link available on OnlineSBI. The recipient will receive a link via SMS or email and an 8-digit passcode based on the medium chosen by the sender. The beneficiary is required to enter the account number, IFS code, and passcode, and mobile number or email address. After due validations, ‘real time’ funds would be transferred to the desired account. State Bank mCASH app has two options: Claim and Favourites. In the Favourites section, customers can store account number and IFSC code (maximum 5 accounts) for future claims.

State Bank No Queue
This is a unique app to enable customers to book a Virtual Queue Ticket (e-Token) for select services at select SBI branches. Customers can generate an e-Token before reaching the branch, thus avoiding waiting in the queue at the branch and saving valuable time. The app also conveys the estimated waiting time, number of customers ahead and a map showing the direction to the branch. Customers will be updated about their position in the queue through instant alerts. This service is available for all SBI and non SBI customers. Customers can book a virtual ticket only during the branch business hours.
How to use State Bank No Queue:
1. Download the State Bank No Queue App from Google Play Store.
2. Do an one time sign-up with basic information viz. name and mobile number.
3. Choose from the list of select services that you wish to avail at SBI branches.
4. Locate get the list of branches close to your current location with detailed information about the expected waiting time and number of customers ahead of you.
5. Book oyur Virtual Queue Ticket. Conveniently join the queue even before you visit the branch and save valuable time.

State Bank Rewardz
State Bank Rewardz is the enterprise-wide Loyalty Program for all State Bank customers that awards them reward points for many transactions across the following banking services, Debit Card, Internet Banking, Mobile Banking, Personal Banking Accounts, Loans, Demat Account, Rural Banking, and SME Account.
On State Bank Rewardz app, you can:
• Register for State Bank Rewardz.
• Check your reward points.
• Redeem your reward points.
• If you are falling short of reward points, use your State Bank debit card to pay the remaining amount.
• Locate a Max Get More partner outlet near you.
• Get the best offers, alerts, updates and notifications based on your location.

SBI Quick
Missed call banking is a new service from State Bank of India that involves banking by giving a missed call or sending an SMS with pre-defined keywords to pre-defined mobile numbers. This service can only be activated for the mobile number that is registered for a particular account with the bank.
Services include:
1. Balance enquiry
2. Mini statement
3. Blocking of ATM card
4. Car and home loan enquiry

State Bank App Kart
State Bank App Kart is a smartphone application holding the mobile applications of State Bank Group. This gives the users a seamless User Interface for installing, opening or upgrading mobile applications of State Bank Group. Applications of State Bank Group will be available to the users under a single umbrella. Fake applications in State Bank’s names would not be available in the Master App. It increases customer convenience, as the user does not have to search in the Google Play Store for downloads/updates of each app.

State Bank Secure OTP
State Bank Secure OTP is an OTP generation app for verifying transactions done through State Bank Internet Banking and State Bank Anywhere App. OTP can be generated in two modes.
1. Online OTP in which Internet connection (via SIM or Wi-Fi) is required for generating OTP. Liberation from broken/inconsistent/unreliable mobile services of service providers in India.
2. Offline OTP in which OTP is generated in the absence of Wi-Fi, mobile network or SIM card.
One time registration with your INB credentials is required for using the app. Service provider independent, hassle free OTP service is now available on this app.

State Bank Exclusif
SBI Exclusif is a mobile app for State Bank Wealth Customers. Wealth customers can avail the following features on their fingertips:
• Compare current and model portfolio allocation
• View holdings across asset classes
• Get reports on holdings, transactions, realised gain/loss
• View the latest news feeds that impact investments and the economy
SBI Exclusif customers can connect to the relationship manager using video call/chat/phone call. Video call offers co-browsing experience and placing the trade securely while interacting with the relationship manager. Currently video calls are available only on Internet banking.

Shiv Kumar Bhasin

Shiv Kumar Bhasin is CTO at State Bank of India 

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