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SBI tops all Mobile Banking Charts

Mar 22nd, 2016 7:06 am | By | Category: LATEST NEWS

Mumbai – March 21, 2016: State Bank of India (SBI) has now become the digital banker of India. All Bank data on Mobile Banking published by RBI for the month of December 2015 shows that SBI accounts for 38.44% of total mobile banking transactions. In terms of the value of these transactions, the Bank’s market share is at 35.97%.

SBI yet again led the mobile banking space with 151.83 lakhs mobile transactions for Rs.17636 crores during the month of December 2015.

Smt. Arundhati Bhattacharya, Chairman – SBI informed that in terms of the count of mobile banking transactions, the bank has been consistently maintaining leadership position since April 2015. Till a few months back, SBI customers were doing mostly low to medium value fund transfer and m-Commerce transactions on mobile. However, with the launch of its dedicated user friendly mobile apps for non-retail customers, the average transaction size has shot up more than 5 times.

In May 2015, SBI launched mobile banking variant StateBankAnywhere-SARAL which is meant for small and medium firms with single authorized signatory/user. Another variant StateBankAnywhere – Corporate for bank’s large corporate customers was launched on 28th October, 2015.Both apps are secure, convenient and easy to use with a host of features including payments to EPFO/ registered suppliers in a few clicks. These apps have been receiving significant response from on-the-move corporate customers and are facilitating a large number of high-value transactions through mobile. State Bank of India has a mobile app for each segment covering wide range of needs of its customers. The app ‘State Bank App Kart’ gives its users a seamless User Interface (UI) for installing, opening or upgrading mobile applications of State Bank Group.

SMS Banking is just appropriate for non-smart basic phone holders. App and non-app variants of SBI Quick facilitate inquiry related options for everyone from basic phone holders to the smart phone users. For those customers who transact on a small scale for day-to-day payments and m-commerce, the Bank has launched its mobile wallet ‘State Bank Buddy’. With current user base of around 2.5 million, the wallet is gaining popularity amongst customers of SBI as well as other banks. Ms Bhattacharya further added that the Bank is committed to digitize its products, services and processes to enhance customer experience and move towards a more agile eco system.

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