Private lender HDFC Bank has launched its Video KYC (Know Your Customer) facility today in a bid to offer convenience to its customers during pandemic outbreak. After running its pilot project successfully, the bank deployed its consent-based Video KYC facility as an alternative method for establishing the prospective customer’s identity, to ensure safe account opening process in a safe environment.
The video KYC facility that is being offered by the bank has been so far deployed for Savings and Corporate Salary accounts and Personal Loans and will be launched for other products in a phased manner. As per RBI directions, completion of Video KYC successfully is equal to full KYC and post the completion of the KYC customers are eligible for all financial banking products. It is available on working days from 10 am to 6 pm.
“We are delighted to announce the launch of Video KYC,” said Mr Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank. “In the first phase, we’re rolling it out for Savings and Corporate Salary and Personal Loans customers and will be rolled out for other products in a phased manner. This facility is in line with our objective to leverage technology to deliver convenience to our customers. We are happy to state that the Video KYC is an outcome of our agile pod working together as part of the One Bank vision taking one more step in customer experience excellence journey.”