Post operationalization of Jio Payments Bank (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership to bring next generation bilateral frictionless experience with exclusive digital Banking, Payments
and Commerce journeys for their customers. Jio and SBI are entering into a digital partnership aimed to increase SBI’s digital customer base multi-fold. SBI YONO is a revolutionary omni channel platform 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 a
seamless, integrated and superior customer experience. MyJio, one of India’s largest
over-the-top (OTT) mobile applications 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. Jio’s highest quality network in urban and rural
regions will allow SBI to launch customer centric services such as video banking and
other on-demand services. Additionally, Jio Phones will be available on special offers
for SBI customers.
Speaking on the partnership, Mr. 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.”
Mr. 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.”
