Open New ICICI Bank Salary A/C, Get Loans Via Video KYC; ICICI 1st Bank To Offer Video KYC For These Services

After the State Bank Of India, ICICI has also launched the video KYC process for customers to carry out their Know Your Customer process online. The Coronavirus pandemic requires social distancing so as to not spread, and making the KYC process online will enable people to follow the safety norms and save themselves from the disease. 

Find out all about ICICI’s KYC process right here!

ICICI Bank Launches Video KYC For Customers 

Very recently, SBI made the process of online KYC available for its users, and it was clear that the rest of the banks would soon follow suit. 

The ICICI Bank is next in line and has also enabled any new customers to open a savings account including a salary account or avail a personal loan with the bank. This is also available for customers who are looking to apply for the ‘Amazon Pay ICICI Bank Credit Card’.

Anup Bagchi, Executive Director, ICICI Bank said, “The facility of doing KYC verification through video interaction brings in a new paradigm as it makes the whole process digital, friction-less and fast to the customer.”

He also said that to complete the KYC process from their homes within minutes, a customer should only have a digital device, PAN card, a pen, and paper.

ICICI’s Video KYC: All You Need To Know

Here is a step by step process of how you can avail the online KYC process by ICICI Bank:

1. Firstly, you will need to apply to open an account at the bank, or for availing a personal loan or credit card. You can apply for the ‘Insta Save’ Savings Account through the bank’s website. You will need to enter your PAN, authenticate with your Aadhaar and OTP, and also provide some other details.
2. Next, you will need to click on the Video KYC option that you will see online or you might also receive a link for the same. You will also be required to give permission to the location on the device for geotagging within India.
3. After this, you will be routed to an official of the bank who will carry out the KYC in real time which only takes a few minutes.
4. now you will be required to submit your details for the KYC process to be completed. Remember to keep your PAN card a blank sheet of paper and pen handy as the bank officer will record the PAN image, your signature, and facial image through a video call. 

As per reports the online KYC system uses artificial intelligence based facial recognition feature and matches your photo that is available Aadhar site with you. Also, note that all the video KYCs will be recorded and stored on the bank’s system.