After SBI, ICICI, and Kotak, HDFC Bank will now be offering the video KYC process to its customers. With the help of this KYC process, customers of the bank won’t have to come all the way to the bank and instead complete their KYC process virtually.
One of the major upsides of this is that people will not have to step out of the safety of their homes and will be able to follow social distancing and safety precautions that are required to keep the COVID-19 pandemic at bay.
Find out all the details about KDFC Bank’s Video KYC right here!
HDFC Bank To Launch Video KYC Soon; Platform Being Tested
As per reports, HDFC Bank will soon be launching the video KYC service for its customers soon and is already testing the platform. Apparently, the initial onboarding process of customers has already begun, but the national launch of the platform is yet to happen.
Sources have revealed, “Currently the bank is still testing the platform, it has to be prepared for massive scale given its reach in the country.”
Banks who have offered the virtual KYC process for their customers are working in collaboration with technology startups such as IDfy, Signzy and Veri5 Digital. These startups will help in verifying documents remotely and also in video services.
Sources have revealed that the HDFC Bank is working with IDfy for their video KYC service. HDFC video KYC will be accessible through its official website and also a dedicated app on the Play Store which is called Insta Account.
HDFC Bank eKYC: How Does It Work?
The video KYC process allows customers to open a full-fledged savings account or a loan account without actually visiting the bank or filling out any paperwork. The Reserve Bank of India has given the go ahead for the onboarding process of customers in January after which many of the banks started initiating their video KYC process.
As of now, the bank is offering full service savings and a salary account which will later be extended to offering credit cards and instant personal loans among other services.
Customers will require their Aadhaar number and PAN card to validate their applications. They can also choose the video call option where a bank officer will get in touch with the customer, capture a photo, and get electronic signatures from the customer and validate the original documents virtually.
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