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SBI and Reliance Jio deepen partnership to spur digital transactions by SBI customers

August 03, 2018
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Reliance Jio Infocomm Limited (RJIL) and State Bank of India (SBI) are entering into a digital partnership which aims at increasing SBI’s digital customer base. As per the partnership, SBI’s You Only Need One’s (YONO) digital banking features and solutions will be enabled through the MyJio platform for a seamless, integrated and superior customer experience. MyJio will also bring in financial services capabilities of SBI and Jio Payments Bank.

Further, RJIL and SBI customers will benefit from Jio Prime, which would offer exclusive deals from Reliance Retail, partner brands and merchants. Additionally, the integration between SBI Rewardz and Jio Prime would offer a loyalty reward earning opportunities as well as broader redemption within Reliance Jio and other online and physical partner ecosystems to SBI customers.

SBI will also make Jio as one of its preferred partners for designing and providing network and connectivity solutions. Earlier, SBI and Jio had entered into a joint venture to launch Jio Payments Bank.

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.”

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.”



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