Aug 4: Reliance Jio is expanding its banking business by collaborating with countries leading lender State Bank of India. In his announcement, Reliance chief Mukesh Ambani said that Jio will work closely with SBI to accelerate the digital transactions of banking customers.
Under the partnership, Jio will also be offering special connectivity solutions and devices to SBI customers. SBI’s all-in-one app SBI YONO will have the services of Relaince MyJio platform, which will benefit all integrated banking and financial services carried out through YONO. In-app services like cab booking, bill payments, recharges etc. are expected to get facilitated through the integration of Jio services.
Additionally, apps like the SBI Rewardz, the loyalty program for SBI customers, will also be integrated with Jio Prime to offer additional loyalty reward to the bank customers. Exclusive deals from Reliance Retail, Jio, partner brands and merchants etc. will be offered to SBI customers through the SBI apps after integration.
Speaking about the partnership, Mukesh Ambani said that the scale of SBI customer base is unparalalled, adding that Jio will remain committed in serving all the needs for SBI’s and JIO’s customers through its superior network and platforms combined with the retail ecosystem.
SBI is expecting to build on the partnership so as to offer customer-centric services like video banking and other on-demand services by leveraging the network reach of Jio in urban and rural regions. Jio, which was launched formally in September 2016, has quickly grown to become one of country’s leading telecom operators through cheap data and unlimited call offers and combined recharge packs for data and calls.