Science, Technology and Development ISSN : 0950-0707 A COMPARATIVE STUDY BETWEEN CUSTOMER PERCEPTIONS TOWARDS SBI YONO AND OTHER MOBILE BANKING SERVICES Bhagyalakshmi Burra Research Scholar, Carrer Point University Dr.K V Ramana Murthy Research Supervisor, Career point University ABSTRACT India is one of the top rising smartphone user nations. In India, we have more than 900 million smartphone users, but only 40 million consumers also use mobile banking. There could be different factors, including the need for active cooperation between banks and Telecom Business, lack of consumer access, prices, knowledge of the mobile banking app, etc. Mobile banking is a movement powered by mobile networking technologies, one of the world's fastest rising markets. There are obstacles to the implementation of mobile banking systems, as with digital technologies. Banks must strive to develop consumer understanding of mobile banking. They ought to encourage the advantages and efficacy of mobile banking. In India, the SBI has extensively used the spectrum of cell phones. As a leader in providing customers with mobile banking application services, SBI has succeeded in launching several such applications which have rendered banking a far simpler business for customers. This paper explores how customers like the different smartphone apps of SBI, how happy they are with multiple applications and how customers of SBI embrace these applications. The research contrasts consumer perceptions of SBI YONO and other mobile banking facilities. Keywords:Banking Services, Mobile Banking, State Bank of India, Customer Perception and satisfaction, etc. I. INTRODUCTION Online banking is a facility that helps consumers to start and/or do banking on their mobile telephones. Most banks in India and abroad provide this. Customers may view their account balance via mobile banking, make immediate funds transactions and pay bills, etc. Volume IX Issue XII DECEMBER 2020 Page No : 349 Science, Technology and Development ISSN : 0950-0707 M-commerce is the fast-emerging e-commerce concept which offers various mobile device services. Now for days, as the amount of wireless Internet subscribers and mobile users has grown, m-commerce technology is being increasingly embraced worldwide. In India, the commercial banking sector has involved many financial developments, shifting its emphasis from conventional banking to technical banking to fulfil its customers' needs and achieve competitive advantage. One such breakthrough is mobile banking. Mobile banking may consist of three interrelated concepts, namely. Mobile and mobile accounting and financial details. 1.1 MOBILE BANKING AND STATE BANK OF INDIA More than two centuries earlier, when the Bank of Calcutta came into existence in 1806, the state Bank of India (SBI) was laid. In the developing years of growth and development, the Bank's sector has been limited to the discounting, retention of cash and savings accounts, issuance and delivery of Rs-limited cash notes and lending. Just one lakh. Since then SBI has rapidly extended its company, services and customer base. Just nine purchases are rendered in branches out of 100 transactions at SBI. Although transactions at ATMs were approximately 55% during demonetization, they are now approximately 30%. Mobile banking has risen to 55% now. There are various types of mobile banking, viz. via SMS, USSD and mobile apps. Some of the banks like SBI, have incorporated services like loan approval and linking of insurance policy in their mobile banking apps. Core elements of the Digital proposition ❖ One view for customer of all wealth and financial assets ❖ 100% digital experience, eliminating need to visit branches ❖ All financial products of SBI group on a single platform ❖ Digital onboarding of customers through e-KYC and biometric authentication Volume IX Issue XII DECEMBER 2020 Page No : 350 Science, Technology and Development ISSN : 0950-0707 ❖ Providing customers financial calculators, comparison tools and life event-based targeting ❖ Big data analytics to target financial products such as insurance, cards, securities etc. to specific customer segments ❖ Personalization of offers with intelligence engine for giving targeted offers ❖ Online store for customers to fulfill their lifestyle needs ❖ Customer segmentation on demographic and financial parameters ❖ Predictive analytics for search, wish list and offer management 1.2 SBI YONO SBI YONO is only one for you. This digital banking software is a one-stop banking, lifestyle, savings, savings and shopping requires solutions from State Bank of India (SBI). Various steps may be taken with this tool, including loan applications, instant opening of a savings account or even online shopping. State bank of India offers one the most convenient Internet banking service compared to other banks in India. SBI’s new mobile banking app “Yono” offers facilities that are comparatively more convenient and feature-rich compared when compared with any other bank in India. With the SBI mobile banking app Yono, it is very easy to download the SBI bank statement on Mobile. SBI bank statement pdf can be downloaded offline using the Yono app too. SBI also owns a digital wallet called SBI Buddy provides applications for almost any program. There will be more than a dozen different YONO applications. The bank also added that the digitalization of its facilities was rather violent. Features ✓ Simplified banking – Using the simple functionality of the app to perform basic banking transactions such as checking your balance, making a fixed deposit, adding beneficiaries, etc. ✓ The biggest shopping market in India – Either shopping your grocery, the latest electronics, booking your flight/train tickets or your next holiday, YONO SBI has covered you with exclusive deals and rewards for SBI customers across merchants providing shopping, travel booking, flight and bus ticket reservations, train ticket reservations by IRCTC, food service and more. ✓ Get a summary of your expenses with the intelligent spending analysis, which conveniently defines your expenditures and classifies them accordingly. ✓ Request Cheque Books, ATM Cards / Debit Cards or use emergency facilities to change ATM PINs, block ATM cards / Debit Cards or avoid cheque through YONO SBI Volume IX Issue XII DECEMBER 2020 Page No : 351 Science, Technology and Development ISSN : 0950-0707 ✓ Use the goal-based deposit service to fulfill your goals by saving regularly by YONO SBI. II. REVIEW OF LITERATURE The first surge of bank technology started with the usage of specialised distribution machines (ALPM) in the 1980s according to RBI Studies (1998). The RBI urged all banks to conduct big branch computing. Two alternatives were available: automating the front office or the back office. In the first step, various banks decided to automate the front office. Whereas banks such as the State Bank of India have worked on branch automation. Routray (2008),The study indicates that mobile and wireless networking equipment are being made more competitive and reliable for companies to do business. Mobile banking (M- banking) is one of the most effective apps. Technological advances play a critical role in any application for acknowledgment. An significant problem is to make M-banking an efficient bandwidth management. A broad variety of carriers is driven by the growing simplicity and versatility of the Wireless ATM and their on-demand bandwidth function. However certain things need to be dealt with in WATM. The challenges include cost-effective network preparation, site maintenance and transfer management. In this paper we presented and tested an M-banking technology architecture utilising a wireless ATM, which optimises use of bandwidth and offers efficient control of transfer systems. The results of simulation demonstrate that the resulting system manages the bandwidth and the transmission problem very well in wireless ATM and offers an efficient WATM frame model. Sharma and Singh (2009)Explained that the cause which emerge from safety concerns such as theft, abuse of accounts and a user-friendly app for less use of mobile banking in India. But with time and the awareness of mobile banking these problems can be minimised by m- payment. It is challenging for the first time for users to use mobile banking or others that seldom do so but the difficulty for users will intensify as such technological approvals are needed for virtual money transfers on their phones. More mobile than bank accounts were disclosed by results. The banks primarily concentrate on providing consumers such as ATMs, smart card services, selling points etc. This facility provides a replacement for money without currency, given by technology. Abishek Singh, Om Shankar, Vikas Kumar and Tapan Ray (2009)E-banking is now the mainstream pattern in our region, according to their report. There is no longer a decline in the queue at the branches, lots of hours in the bank no more waiting days and weeks. Anything can be achieved with a card, a gadget. It's fast, it functions, and people like it most of all. However, it is also challenging for certain people to utilise this form of technology mostly people used to do things in the old conventional fashion. The usage of ads today allows people to use electronic banking because it avoids the problems they experience when they use the old banking mechanism. Advancing electronic banking or e-banking started with the use, including mobile banking, bill paying, electronic money transfer, on-line banking and other electronic transfers, of automated teller machines (ATMs). They claim that e-banking is Volume IX Issue XII DECEMBER 2020 Page No : 352 Science, Technology and Development ISSN : 0950-0707 being aimed at mobile banking for many people. Some people still assume that the most common route in future would be online banking. Uppal (2010)In an inquiry into the reach of mobile banking between the different e-channels between 2000-2001 and 2006-2007, the mobile banking services of various bank groups in India were studied. The study stated that fewer percent of the branches offering mobile banking services are in the SBI community, nationalised banks and the old private sector banks.