Video KYC: Indian Bank to allow applicants to open account from anywhere

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Video KYC: Indian Bank to allow applicants to open account from anywhere
Video KYC: Indian Bank to allow applicants to open account from anywhere

Developed in conjunction with Gieom Business Solutions, the video KYC facility further simplifies the subsequent steps and would deliver the cheque book and ATM card to the registered address of a customer

Public sector Indian Bank on Tuesday said, to allow an applicant to open an account from anywhere by incorporating its Video-Based Customer Identification Process (VCIP) technology on its web-based platform, it has launched the Video KYC (know your customer) facility.

To complete the physical verification process in place, Indian Bank, in a statement said the initiative would dispense with the need for a personal visit to any branch of the bank.

Developed in conjunction with Gieom Business Solutions, the video KYC facility further simplifies the subsequent steps and would deliver the cheque book and ATM card to the registered address of a customer.

After completing the initiation procedures, customers can proceed to deposit the minimum balance through offline or online route and transact seamlessly using the ATM card and mobile banking.

“It is a momentous occasion for us at Indian Bank to launch our Video KYC facility that will be using the latest VCIP technology to enhance customer convenience and experience”, the bank’s MD and CEO, Shanti Lal Jain said.

“We will extend this facility to all applicable services in a phased manner. Additionally, this should help us extend our reach and significantly help us in driving financial inclusion. This is a step towards digitization”, he said.

A valid mobile number, e-mail, PAN Card, Aadhaar number (linked with mobile number) and access to a computer equipped with camera and a microphone facility are the pre-requisites to avail the Video KYC facility.

The statement added that the process validates the applicant’s credentials from multiple sources like a bank representative initiated video-call, information from UIDAI, and OTP for registration of the mobile number.

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