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IDBI Bank launches video KYC account opening facility; here's how to open savings account

IDBI Bank's Video KYC Account Opening (VAO) facility is a completely contactless and paperless mode of on-boarding the customer and tailor made for the demands of post pandemic world

twitter-logoBusinessToday.In | January 4, 2021 | Updated 18:56 IST
IDBI Bank launches video KYC account opening facility; here's how to open savings account
IDBI Bank launches Video KYC Account Opening (VAO) facility

IDBI Bank on Monday launched Video KYC Account Opening (VAO) facility for savings bank accounts to ensure safety of its customers during coronavirus pandemic. This comes close on the heels of the "I Quick" mobile app based account opening and "WhatsApp Banking" facilities the bank had launched recently.

The Mumbai-headquartered bank said that VAO is a completely contactless and paperless mode of on-boarding the customer and tailor made for the demands of post pandemic world. Through VAO, a customer can open a savings account with IDBI Bank from the convenience of his/her house or office as there are no physical forms to be filled and no visits to be made to the branch for opening one's Savings Bank account, the Life Insurance Corporation (LIC) controlled-lender said.

Suresh Khatanhar, Deputy Managing Director, IDBI Bank inaugurated a centralised Video KYC hub at Mumbai. Speaking on the launch, Khatanhar said, "VAO - Video KYC Account Opening is yet another step in creating more digital journeys benefiting the customers. The bank is endeavouring to make more such customer friendly digital conveniences available for customer delight".

Also Read: IDBI Bank share climbs 4% on sale of 23% stake in JV to Ageas Insurance

IDBI Bank has already launched its mobile banking application "I-Quick", which allow its customers to avail themselves a range of services such as funds transfer, bill payment, mobile/DTH recharge, and an account view across savings, current account, fixed/recurring deposits, loans and demat. I Quick Account is an Aadhaar and PAN based instant Savings Account for our customers who do not have any existing Savings Account with IDBI Bank.

In October last year, the bank launched its banking services on WhatsApp to allow the customers to access banking services remotely at their convenience. Through the WhatsApp Banking facility, the bank's customers can avail various essential banking services such as: account balance information, last five transactions, request for a cheque book and an email statement, interest rates, as well as details of the IDBI Bank branches/ATMs in the vicinity.

By Chitranjan Kumar

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