HDFC Bank launches Video KYC facility to open new accounts

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HDFC Bank has announced the launch of Video KYC (Know Your Customer) facility. After successful completion of the pilot project, the bank has deployed consent-based Video KYC facility as an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure manner.

The Video KYC facility has been deployed for Savings and Corporate Salary accounts and Personal Loans so far and will be rolled out for other products in a phased manner. As per the RBI directions, successful completion of Video KYC is equivalent to full KYC and the customers are eligible for all financial and banking products. It is available on working days from 10 am to 6 pm.

Prospective customers can now sit in the comfort of their home or office and open a full KYC – all benefits account in HDFC Bank in a few minutes and avail the bank’s world-class products and services. The Video KYC process is online, secure, and quick. It is a paperless, contactless, and recorded interaction between a Bank official and the customer.

For Video KYC, a customer needs to complete Aadhaar OTP-based EKYC in Bank Application, keep original PAN Card handy, be in India while performing Video KYC, and have a smartphone with good data connectivity. After the customer completes his Aadhaar eKYC through the Bank Website or Insta Account Opening App available on Playstore, he gets connected to a Bank official who undertakes Video KYC.

Typically, during a Video KYC involves the bank official will verify customer’s information, click customer’s picture, click customer’s PAN card image, and Video KYC’s audio-video interaction is validated before the account is finally activated.

“We are delighted to announce the launch of Video KYC,” said Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank. “This facility is in line with our objective to leverage technology to deliver convenience to our customers. We are happy to state that the Video KYC is an outcome of our agile pod working together as part of the One Bank vision taking one more step in customer experience excellence journey.”

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