In what marks a pivotal year for Indian banking, State Bank of India (SBI) is not only reinforcing its financial dominance but also making bold strides into the future by aggressively investing in cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and Big Data. The bank’s Annual Report for FY2025 provides a clear vision: India’s largest lender is fundamentally transforming its operations through a seamless integration of technology, positioning itself to meet the fast-evolving needs of the nation’s digital economy.
At the forefront of this transformation is Challa Sreenivasulu Setty, Chairman of SBI, who emphasized the role of next-gen technology in the bank’s ongoing evolution. In his statement, Setty highlighted, “Cutting-edge and next-gen technology, aimed at providing responsible, secured, and convenient products and services, remains the core of your Bank’s host of innovative and interwoven strategies.” He further elaborated that SBI is “constantly moving the needle up by integrating proven stacks of technological infrastructure with futuristic domains of new-age technologies.” The strategic deployment of Generative AI, Predictive AI/ML, and Large Language Models (LLMs) across vital bank functions such as credit underwriting, treasury operations, risk management, and ALM (Asset Liability Management) exemplifies SBI’s forward-thinking approach. These tech innovations are not only enhancing customer engagement but also optimizing operational efficiency at an unprecedented scale.
One of the most tangible outcomes of this profound technological integration is the significant shift in the way SBI conducts transactions. Over 98.20% of all transactions now flow through the bank’s alternate channels, drastically reducing the dependence on traditional, manual, branch-based services. This marks a fundamental shift in how banking services are delivered, making them faster, more convenient, and accessible to a wider range of customers.
A cornerstone of SBI’s tech-first strategy is its flagship digital banking platform, YONO (You Only Need One). With over 8.8 crore registered users, YONO has become a pioneering force in digital banking. The platform saw the addition of 164 new features in FY2025 alone, expanding its services to include everything from Jan Nivesh investments and International Fund Transfers to UPI QR Cash Withdrawals. This digital leap showcases SBI’s ambition to deliver a seamless and holistic banking experience, not only in urban areas but also in rural India, thanks to YONO’s robust multilingual support and vernacular capabilities.
As SBI continues to build on its tech-driven transformation, the future of banking in India is being redefined. The bank’s dedication to innovation and customer centric solutions is paving the way for a truly digital-first banking experience that empowers individuals and businesses alike. By leveraging the power of AI, ML, and Big Data, SBI is not only shaping the future of banking but also solidifying its position as the banker to every Indian. With its visionary leadership, unwavering commitment to technology, and customer-first approach, SBI is well on its way to setting new benchmarks in the banking industry, heralding an exciting new era for both the bank and the country’s financial ecosystem.
