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SBI introduces 'SIM binding' feature for more secure transactions; all you need to know

SBI introduces 'SIM binding' feature for more secure transactions; all you need to know

SBI has rolled out SIM binding feature on its YONO Lite app to ensure secure online transactions. To use this feature, users will have to update to Yono Lite app version 5.3.48

SBI has rolled out SIM binding feature on its YONO Lite app SBI has rolled out SIM binding feature on its YONO Lite app

Since online payments have taken centerstage due to the COVID-19 pandemic, the State Bank of India (SBI) has decided to make online transactions more secure for its customers. SBI has rolled out SIM binding feature on its YONO Lite app to ensure secure online transactions.

"Now online banking is more secure than ever with SBI! Download the latest YONO Lite app now," SBI tweeted. SIM binding is "a new technology that allows only one user per device with a registered mobile number and makes online banking more secure than ever," SBI said. India's largest public service lender will not allow users to make transactions in case they log in using a different number.

To use this feature, users will have to update to Yono Lite app version 5.3.48 and complete a one-time registration process with the registered mobile number.

Also read: 'Steer clear': SBI alerts customers against phishing attacks

Here's how users can register their mobile numbers on the YONO Lite app

  • Android users are required to download and open the SBI Yono Lite app from Play Store and select SIM 1 or SIM 2 registered with SBI for this process. SIM selection is not needed in case of a single SIM.
  • A message will appear on your screen asking you to send an SMS from the device for validation of mobile number.
  • Hit the 'Proceed' button and an SMS containing a unique code will be sent from the device to a pre-defined number
  • Once redirected to the registration screen, enter your username and password, and hit the 'register' button
  • Accept terms and conditions for registration and click on 'OK'
  • You will get an activation code on your registered mobile number. This code will remain valid for 30 minutes
  • Enter the code to complete the activation process
  • Users can now log in to the YONO Lite application

Also read: Beware of QR code frauds! SBI warns customers amid rise in online payments