SBI’s Big Announcement: The country’s largest public-sector bank SBI, ie State Bank of India (SBI), has launched Video KYC, giving a big relief to its customers. In the current situation in Corona, where people are being instructed to stay at home. Keeping the same in mind, SBI has given the option to do KYC through video sitting at home instead of going to a branch to open an account in the bank.
SBI Chairman Dinesh Khara says that it is a great pleasure to announce the facility of opening an online savings account which is very necessary for the event of the current pandemic. We are confident that this initiative will add a new dimension to mobile banking and will also empower customers digitally for their banking needs. the bank has said, Artificial Intelligence and facial recognition technology by operating this digital initiative is a contactless and paperless process is. It is known that from last year many private banks are giving video KYC facilities to their customers.
SBI’s Big Announcement: This is how you can do video KYC from the YONO app
Download the YONO app on your phone.
Click on ‘New to SBI’ and select ‘Insta Plus Savings Account’.
Then, enter your Aadhaar details in the app.
After the Aadhaar authentication is complete, users will have to input personal details.
Then, the customer has to schedule a video call to complete the KYC process.
After the completion of video KYC, the account in SBI will open automatically.
YONO was launched in 2017
The YONO app launched in November 2017 has had 8 crore downloads and has more than 37 million registered users. SBI has partnered with more than 100 e-commerce companies in more than 20 categories on the YONO platform.
Account will be opened without going to bank branch
The process of opening the bank account of the customers through video call is a big step and this will give a new direction to the branchless banking. Apart from this, banks will be helped in increasing access to remote customers. Currently, to open an account, the customer has to walk to the bank branch and then fill the form or the agent takes your documents and signature at your home. In some cases, basic bank accounts can be opened online through Aadhaar, but paper documentation is mandatory for full service accounts.
What is KYC?
KYC is an identification process conducted by the Reserve Bank (RBI), with the help of which banks and other financial institutions get to know their customers better. KYC means ‘Know Your Customer’ Know your customer. Banks and financial companies fill the form for this and also take some proof of identity with it.
Documents required for KYC
1. Passport 2. Voter ID 3. Driving License 4. Aadhaar Card 5. NREGA Card 6. PAN card