What is Video-KYC? How to Avail the Facility to Sign up as a New Customer with Bank
4 years, 5 months ago

What is Video-KYC? How to Avail the Facility to Sign up as a New Customer with Bank

News 18  

Several banks in the country have started offering video-KYC service to sign up new customers. Reserve Bank of India earlier this year gave its nod to banks to use a video-KYC process. Under the video-KYC process, people are contacted by a bank officer through a live video call and they have to submit identity proof digitally. What they have to do is, visit the bank’s website, share personal details and enable access to the phone’s location for video KYC. Finally, after a conversation with a bank executive over video call, a bank account is opened and customers become eligible for availing various facilities.

Video Bank Customer Kyc  customers  banks  provide  sign  avail  documents  videokyc  customer  facility  video  process  website  bank  visit

History of this topic

Will KYC be digitalised? India's big plan to standardise banking checks
10 months, 3 weeks ago

Will KYC be digitalised? India's big plan to standardise banking checks

Hindustan Times  

India's financial stability panel plans to roll out a uniform approach to verifying customers across the financial sector and prevent illegal lending based on online applications, it said on Wednesday. India's fintech sector has been thrown into crisis after India's banking regulator on Jan. 31 directed Paytm Payments Bank to stop accepting fresh deposits in its accounts or popular wallets …

Reserve Bank of India's Fresh Update on KYC Process is Here; All You Need To Know
2 years ago

Reserve Bank of India's Fresh Update on KYC Process is Here; All You Need To Know

News 18  

On Thursday, the Reserve Bank of India updated clients’ KYC information. According to the central bank, a new KYC procedure can be completed in person at a bank branch or online using a video-based Customer Identification Process. The RBI stated that if the KYC documents submitted to the bank do not comply with the officially recognised documents, a new KYC …

How to do KYC online
3 years, 1 month ago

How to do KYC online

India Today  

The Reserve Bank of India has made it compulsory for all banks to make sure the financial institutions and other organisations verify the address and identity of customers who conduct any kind of financial transactions. The first step for investing in any kind of instruments like mutual funds, fixed deposits, or bank accounts a customer should submit KYC. The process …

How to protect from KYC fraud and why CKYC is important
3 years, 6 months ago

How to protect from KYC fraud and why CKYC is important

India TV News  

India is moving fast on the road to becoming a cashless economy. Recently, Chinese hackers reportedly targeted SBI customers to update their KYC process and get gifts worth Rs 50 lakh. Gautam Mahesh, Director of Products at Decentro, said that while the pandemic saw people shifting to digital payments, the rate of online scams and KYC frauds also increased at …

RBI Governor Shaktikanta Das announces rationalisation of KYC compliance norms
3 years, 8 months ago

RBI Governor Shaktikanta Das announces rationalisation of KYC compliance norms

Live Mint  

Amid the second wave coronavirus surge, Reserve Bank of India's Governor Shaktikanta Das made an unscheduled speech today. RBI Governor Shaktikanta Das said that the central bank will continue to monitor the emerging COVID-19 situation and will deploy all resources and instruments at its command for citizens, business entities, and institutions beleaguered by the second wave. These include extending the …

SBI new video KYC: Now you can open a savings account without visiting branch
3 years, 8 months ago

SBI new video KYC: Now you can open a savings account without visiting branch

Live Mint  

State Bank of India on Friday launched a Video KYC based account opening feature on its mobile banking app – YONO. This new feature will help customers open an account with SBI without having to visit a bank branch, India's largest lender said. Commenting on the new functionality, Dinesh Khara, chairman, SBI said, “It gives us immense pleasure to announce …

Video KYC lets more customers open bank accounts from home
4 years, 4 months ago

Video KYC lets more customers open bank accounts from home

Live Mint  

While banks, being an essential service, remained open even during the lockdown, many people became wary of visiting branches and turned to digital alternatives. The latest one is Axis Bank Ltd, which launched its Full Power Digital Savings Account on 31 August. Keeping in mind the need of the hour, we launched the Full Power Digital Savings Account, which can …

Irdai may soon allow insurers to use video KYC for verification
4 years, 4 months ago

Irdai may soon allow insurers to use video KYC for verification

Live Mint  

The Insurance Regulatory and Development Authority of India may soon allow insurers to leverage various electronic platforms to ensure ease of doing business. The insurers shall develop their application and undertake live VBIP carried out by an authorized person appointed by the insurer for the establishment, continuation and verification of account-based relationship with the prospective customer. The authorized person of …

IDFC First Bank launches video KYC facility for customers to open savings accounts
4 years, 7 months ago

IDFC First Bank launches video KYC facility for customers to open savings accounts

Firstpost  

IDFC First Bank has launched video KYC facility so that customers can open savings accounts without the need to visit a branch office New Delhi: IDFC First Bank has launched video KYC facility so that customers can open savings accounts without the need to visit a branch office. The zero-contact method completely does away with paper work or biometric verification, …

Loans, cards may be issued online soon
4 years, 9 months ago

Loans, cards may be issued online soon

Live Mint  

Just like demonetization gave a fillip to digital payments, the current lockdown may make the lending and card issuing process totally digital. “In the normal course of business, the process could have taken two to three quarters, as it requires banks to set up infrastructure based on the Reserve Bank of India’s guidelines. But lenders and card issuers are planning …

RBI Digital KYC: Advantages and importance, and how the new norms work
4 years, 11 months ago

RBI Digital KYC: Advantages and importance, and how the new norms work

Firstpost  

KYC has been a thorn in the side of the financial industry, particularly since the Supreme Court’s bar on Aadhaar based eKYC. The RBI’s latest norms now provide the industry with an urgent necessity- digital KYC which makes the process paperless, and video KYC which additionally makes it remote. The new norms implement the digital KYC brought in by the …

KYC for opening bank accounts to make process secure: UIDAI
5 years, 4 months ago

KYC for opening bank accounts to make process secure: UIDAI

India TV News  

The recent amendments to anti-money laundering rules allowing voluntary use of Aadhaar for the opening of bank accounts and the modalities of digital KYC for cases where verification is done using other documents like voter ID and driving licence will make the process secure and convenient for users, UIDAI CEO said on Wednesday. The government, last week, had notified amendments …

Discover Related