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SBI Connected Banking Solutions
SBI Connected Banking Solutions
At SBI, we’re committed to empowering businesses with cutting-edge digital solutions. Our Connected Banking Solution is designed to seamlessly integrate your banking with a variety of leading fintech applications, simplifying your financial management and boosting efficiency.
What is Connected Banking?
Connected Banking is a one-stop solution that links your SBI Current Account with top-tier fintech platforms, enabling automated workflows, real-time data synchronization, and comprehensive financial management tools. This integrated solution helps you manage payments, accounting, and cash flow, all from one platform.
Key Features:
- Instant Reconciliation: Automatically reconcile your transactions in real time with accounting software.
- Seamless Payments: Leverage robust payment solutions for faster, secure transfers, and manage bulk payments effortlessly.
- Integrated Cash Flow Management: Stay on top of your finances with advanced cash flow tracking tools.
- Time-Saving Automation: Automate routine financial processes, reducing manual work and human error.
- Improved Financial Visibility: Get real-time insights into your business’s financial health with advanced reporting tools.
- Enhanced Control: Stay in control of all your transactions, track payments, and manage invoices from one place.
SBI has collaborated with industry leaders like OPEN Financial Technologies Pvt Ltd, Marg ERP Ltd, Zoho Corporation Ltd, and Cipherpay Technologies Pvt Ltd to offer a range of services tailored to meet your unique business needs.
SBI Connected Banking is ideal for:
- Businesses with SBI Current Accounts
- SMEs and Enterprises looking for digital transformation in their financial operations
- Businesses that want to automate financial workflows for greater efficiency.
Login to https://yonobusiness.sbi -> Select API Banking for more details
End to End Digital Journeys for Single Users (Sole Proprietors)
For Multiusers (Vyapaar/Vistaar) Customers a one-time Branch Visit required along with Board Resolution.
Going Digital (How to get Onboarded)
- Self onboarding for Proprietor with business debit cards
- Instant digital activation without a branch visit
- How to go digital?
- Go to https://yonobusiness.sbi
- Click on “Register” button to apply for digital banking
- Enter required details
- Authenticate through debit card, choose your user ID and use yono Business web and mobile app immediately
- Experience 24X7 access to your account seamlessly
- Quick access to balance, transaction statement and dashboard view for major products and services. Also transact, if opted
- Access web and mobile app yono Business platforms with superior user experience
- Simple digital onboarding for existing non-digital customers
- Who does it apply? Business customers who use only branch for enquiries/transactions and do not use any digital channel (Proprietors with debit card may self-onboard as shown below)
- Yono Business is a one stop digital solution for all your corporate banking needs
- How to go digital?
- Go to https://yonobusiness.sbi
- Click on “Register” button to apply for digital banking
- Enter required details
- Take a printout
- Get it signed by the authorized signatory
- Carry listed documents for verification and submit to your home branch (Onetime visit)
- On approval by the Branch SMS will be sent to your registered mobile number
- Choose your own user ID and start using Net Banking/ Corporate Internet Banking, eTrade/eForex, and other SBI products and services
- Experience 24X7 access to your account seamlessly
- Quick access to balance, transaction statement and dashboard view for major products and services. Also transact, if opted.
- Access web and mobile app yono Business platforms with superior user experience
- Convenient online Current Account opening request
- Online Current Account opening application for all business customers e.g., Proprietors, Partners, Companies, Societies, Trust, HUF etc.
- How to go digital?
- Go to https://yonobusiness.sbi
- Click on “Open Current Account”
- Enter required details and submit
- Carry listed documents (clearly specified in the same link) to your preferred branch (Onetime visit)
- Sign in presence of branch officer on required documents
- Post verification of documents and authorization by branch, SMS will be sent to registered mobile number along with account number and other details
- Get best in industry features: Highest Cash Deposit Limit, Cash Withdrawals, Lowest Annual maintenance balance, Cash Pickup, Zero Hidden Charges and multiple other benefits (T&C Apply)
- 24X7 access to bank with yono Business app and web application
Forex
- 4. Book exchange rate online and Upload Documents
- Book exchange rate in popular currency pairs (USD/INR, EUR/USD, GBP/USD, EUR/INR and GBP/INR) for various tenors (Cash, Tom, Spot, Forwards)
- Fully/partially cancel Forward Contracts, Place order, Add swap points for transactions where spot rate is booked earlier and other best in class features
- Ability to negotiate finer rates with dealer for predefined transaction amount, long term forward etc.
- Document First: Ability to upload a document, get it vetted by the branch officials before booking a rate
- Integrated MIS
- How to Use?
- Login to https://yonobusiness.sbi
- Click eForex icon in yono business
- Book rate tab to choose Book Exchange rate, Place order, Document first
- Upload documents tab to upload the documents irrespective of channel of booking (e.g., Dealer board, Fx-Retail)
- Forex Dashboard to view Running orders and Booked trades (Active, Outstanding, Matured and Documents first)
Roll-over facility
- Customer can now rollover the outstanding forward contracts through eForex. Matching spot rate is provided in such type of transactions.
- How to roll-over?
- Go to Forex dashboard > Outstanding >Click on rollover icon
- OR
- Book rate screen > Click on toggle button > Select transaction type (rollover) >Select forward contract number
Trade
- 5. Import LC issuance and LC Bill acceptance
- Request for paperless Import LC application under 10 minutes
- No branch visits
- No physical document submission
- No Stamping
- Enhanced user interface displaying available limit, utilized limit, margins etc., with mark lien request facility, PDF view of previous Import LC applications and facility to save drafts/templates
- How to initiate Digital Import LC?
- Maker to login to https://yonobusiness.sbi
- Click on “eTrade” icon
- To request for Import LC,
- Select import > import LC > create new LC
- Enter LC details > Bank and other details > Shipment details > Documents required and additional conditions > Undertakings and upload the documents and submit
- Checker to login and authorise the request
- Branch officials will verify the request and issue the Import LC
- Real time tracking of Import LC application status (Successful/Rejected/Pending)
- Import LC bill lodged by branch will be available in yono business for the customers to view and download, if required
- Provision for acceptance and rejection of Import LC Bills
- 6. Export LC advising
- Dashboard for viewing LC Advised and Amendments
- Easy download of MT700
- Accept/Reject the amendments
- Amendment history is colour coded for easy reference
- Regular Alerts/Notification of export advising
LC Bill acceptance
Loans
- 7. PABL / PABL POS
- Booster to MSME (Micro) Segment as a drop line facility
- Preapproved loan for Sole Proprietors / Individuals (having Current account)
- Loan amount increased from 10 Lacs to 20 Lacs (min Rs. 50,000)
- How to avail PABL Loan?
- Go to https://yonobusiness.sbi
- Login to yono Business
- Pop-up will be displayed to eligible customers
- Click on Pop-up > Check the loan amount >Enter details and Submit
- Branch will contact the customer
- Onetime branch visit for signing the documents for sanction/disbursement of loan
- 8. SME gold loan
- Apply Online for SME Gold Loan
- Eligibility: Proprietary Firms having access to yono Business
- Request for the Gold Loan above Rs. 1 Lakh up to Rs. 50 Lakhs
- Know eligibility, loan terms and required documents immediately
- Choose branch of your choice and view karat-wise gold rates
- How to apply SME Gold Loan?
- Customer to login https://yonobusiness.sbi
- Select SME Gold Loan
- View features, eligibility, interest rate and documents to be submitted
- Details are auto-populated, verify details and enter desired amount
- Choose the branch from which the loan shall be availed
- Branch will contact the customer on submission of request for further processing
Payment APIs
- 9. Payment APIs (Integration with ERP/accounting platform)
- Complete payment solutions powered by API Banking
- Payment APIs enable posting from customers ERP to Bank’s systems via yono Business
- Two types of APIs available: STP (direct posting) and non STP (request posted to and approved by checker in yono Business)
- Steps to avail API Banking
- Step 1
- Register online on Sandbox API hub
- Entirely digital journey (no paper documentation required)
- Explore various APIs in sandbox
- For accessing yono Business sandbox portal, please visit https://apihub.yonobusiness.sbi
- Register online on Sandbox API hub
- Step 2
- Submit onboarding documents, Board resolution to get UAT access
- Share Details of UAT IP(s), Extended Validation SSL Security Certificate etc.
- Complete UAT and submit exit report
- Step 3
- Share Details of Production IP(s), Extended Validation SSL Security Certificate etc.
- Sign SLA and NDA with Bank
- Submit certificate from CERT-IN empanelled vendors on 43 points checklist of RBI (for aggregators)
Liquidity Management
- 10. Liquidity Management
- Sweep: Movement of funds from Child account to parent account
- Reverse Sweep: Reverse movement of funds from Parent account to child account
- Centralization of Account Balances giving clear visibility of funds
- Helps in reducing interest / faster churning of surplus funds
- How to Use?
- Onboarding with the help of branch (one time)
- The corporate dealers and agents to login https://yonobusiness.sbi
- Select Liquidity Management menu
- View MIS and Dashboard on Execution, Billing, Pricing, Billing Adjustments, GST, Recon MIS
- Customize Billing and Execution MIS as per requirement
Quick Transfer
- 11. Quick Transfer facility is now available to Multi Users Corporates (Vyapar/Vistaar)
Key features:
- Payment can be made directly to the beneficiary without adding them
- Admin will enable Quick Transfer rights to Authorisers along with the transaction limit
- Only Authoriser can make a payment through Quick Transfer
- Admin can give rights to more than one authorizer
- Transaction limits are as under-
Users
Maximum Quick Transfer limit per day
Maximum per Transaction limit
Multi User
Rs. 5,00,000/- (Max of all Authorisers under one Admin*)
Rs. 25,000/-
- Admin can set the limit for Authorizers.
- Quick Transfer payment can also be made to an existing beneficiary
- Corporate will have a facility to mark as favourite transaction on status page
- All payment options are available within bank and other banks
Latest Update for Yono Business Mobile App Users
- Please update your mobile device to Android Version11 or above. Yono Business mobile app will not work on Android version 8 and below from May-2024 and Android Version 10 and below from Jan-2025. In case of any query/clarification, please write to support.ybmobile@sbi.co.in