State Bank of India has received several complaints from its customers due to a deluge of spam notifications.
Contents
Notifications With Wrong Customer Names
Users of the bank’s mobile app Yono Lite took to Twitter to air their complaints and share screenshots displaying the problem.
Aside from the annoying frequency of the notifications, people have also been receiving notifications addressed to different names than that of the user.
The notifications were pertaining to eligibility and availability of instant personal loans.
A Hack?
Some people theorised that the app had been hacked since they were not able to even log in to it.
They deleted the app as a precaution if it was really hacked.
Technical Glitch
SBI finally addressed the issues and said that the notifications were the result of a technical error.
It said that it is working to rectify the issue at the earliest and that it regrets the inconvenience caused.
In related news, SBI said that it will create a separate digital entity and will revamp its current app.
Revamping Mobile Banking
It will now be called ‘Only Yono’ and existing Yono customers will be migrated to Only Yono in 12-18 months.
Only Yono will be the next generation of Yono (You Only Need One), a complete digital bank with “a leaner and modular architecture, more streamlined journeys, sleek and personalized customer-centric design and capturing value from ecosystems.”
Features And Benefits
It will also be built using modern technology, products, and take advantage of cloud computing to handle large volumes while also providing a superior customer experience.
The digital-only bank strategy helps the bank run it at a very low cost, up to 70% lower in steady state compared with traditional operations, according to a McKinsey report.
Its launch takes less time, has fewer constraints related to legacy technology, and it allows banks to test concepts at lower risk.
Comments are closed, but trackbacks and pingbacks are open.