The share of new SBI savings accounts opened on YONO fell from 66% to 54% in a quarter. What is the root cause?

Introduction

In FY26, more than 66% of new SBI savings accounts were opened digitally through YONO. That share is one of the bank's headline digital achievements and a key input into the goal of doubling YONO users to 20 crore. In this scenario, the share of new savings accounts opened through YONO fell from 66% to 54% over one quarter, while total new savings accounts across all channels were roughly flat. In other words, customers are still opening accounts with SBI, but more of them are doing it at a branch. This is a hard question because account opening involves many systems: Aadhaar e-KYC, video KYC, PAN validation, the new YONO 2.0 app, and branch incentives. I'll clarify, rule out external factors, map the journey, break down the metric, form hypotheses, find the root cause and propose a fix.

Step 1

Clarifying Questions (3 minutes)

• Did digital account openings fall in absolute numbers, or did branch openings rise?

Why it matters: It tells us whether digital broke or branches pulled volume. Expected answer: Digital openings fell about 15%; branch openings rose about 30%. Impact on approach: Both sides need investigation.

• Is the drop across all regions and customer types?

Expected answer: Sharper in semi-urban and rural areas, and among customers aged 18–25.

• Were there any regulatory or process changes in KYC?

Expected answer: The bank tightened video KYC checks after a rise in mule account fraud.

• Any changes in branch targets or incentives?

Expected answer: A new campaign rewards branches for opening accounts with a debit card and nominee registered at opening.