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For the current financial year 2022-23, Union Bank of India has launched UnionNXT, a super-app, and SMBHAV, a digital transformation effort with a budget of Rs 1,000 crore (FY23). By 2025, the public sector lender expects a two-year recovery from the spending, with an aim of 50 percent of business originating on the digital platform.

Payments, online shopping, bill payments, recharges, investment, loans, and cash transfers are all available through a banking super-app. Other large lenders' super-apps are similar to UBI's, such as State Bank of India's Yono, HDFC Bank's PayZapp, and ICICI Bank's iMobile. The Mumbai-based public sector lender's super-app for the marketplace would be expanded in the next phase, allowing users to use app features to purchase consumer products and services. It did not, however, establish a timeline for such a marketplace offering.

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