Kotak Mahindra Bank launches Video KYC

Wednesday 20 May 2020 14:19 CET | News

India-based lender Kotak Mahindra Bank has launched a Video KYC service that allows customers to open a savings account remotely.

Kotak launched this initiative on a pilot basis for a zero-contact customer onboarding on its digital banking platform Kotak 811, amid the COVID-19 pandemic. According to Verdict, the move is in line with Kotak’s digital-first strategy to provide customers with a fully-digital and paperless account opening.

Using the Video KYC feature, customers can submit their KYC documents and signature via a video call with the bank. This eliminates the need for a branch visit, sharing of physical documents or submitting biometric verification to open an account.

Upon completion of the Video KYC, customers will receive full-fledged savings account with no restrictions on deposits and account balances.

More: Link

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Keywords: Kotak Mahindra Bank, KYC, India, onboarding, digital banking, banking, banks
Categories: Fraud & Financial Crime
Countries: India
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