HDFC Bank today launched Video KYC (not your customer) facility. HDFC Bank on Thursday launched the consent-based video KYC facility as an alternative method after the success of the pilot project. Currently, this facility can be used by savings and corporate salary accounts and personal loan borrowers. It will be brought to other products in phases later.
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The video features an important role of Agile Pods in delivering KYC, including teams of branch banking, digital banking and retail assets. HDFC Bank is working on new products and services for various Agile Pod customers. Let me tell you that in January this year, the RBI issued guidelines for completing the video-based KYC process. Previously, banks had to rely on Aadhaar data to open accounts in remote areas.
The facility will be available from 10 am to 6 pm
Video KYC is the same as before as per RBI instructions. It is available from 10 a.m. to 6 p.m. on weekdays. This allows any customer to complete KYC through video sitting at home. Within minutes all KYC accounts can be opened with HDFC Bank and you can take advantage of the bank’s world class products and services. The video KYC process is online, secure and fast. It is a paperless, communicationless and recorded conversation between a bank officer and a customer.
What are the requirements for video KYC?
- Complete Aadhaar OTP based e KYC on bank application
- Keep the original PAN card
- Stay in India while doing video KYC
- Have a good data connection smartphone
- After the customer makes his Aadhaar card available on the Playstore through the bank’s website / Insta account opening app, he attaches the KC video to the video officer.
What do bank officials do during video KVC
- Verify customer information
- Check the customer’s picture
- Check customer’s PAN card
- Videos validate KYC’s audio-video interaction before the account is activated at the end of accounts.
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Launching the facility, Arvind Bhohra, Head, Banking Group, HDFC Bank, said, “We are pleased to announce the launch of KYC. In the first phase, we are looking at it for savings and corporate pay and personal loan customers. We have this facility with us for the benefit of our customers. “
What is video KYC and how it works
KYC means you don’t have a customer. Banks run KYC to verify the identity and address of the customer. Video KYC is similar to KYC. The difference is that the customer does not have to go to the bank for video KYC. To complete the video KYC process, customers will be sent a link via SMS or email. After clicking on this link, the customer video will reach the KYC webpage.
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Here the customer has to enter his mobile number. An OTP will come to this number, through which the video KYC process will start. The customer will be connected to the video KYC agent. This agent will get details from the customer through live video like PAN, passport size photo, signature, locality etc. The customer’s KYC formality will be completed within a few hours after all these videos are certified by the banking representative. The video call of KYC should be made from the domain of the concerned bank. It will not be valid from third party sources like Google Duo or WhatsApp.