HThe current situation globally distances customers from visiting a bank branch for applying a personal loan or a credit card. ICICI Bank has announced the launch of a facility that makes individuals complete the KYC process, which is required to open a new relationship with the bank through video interaction. To start with the bank has made the facility available for new individuals who are keen to open a savings bank account, including a salary account, or avail a personal loan with the bank. This facility is also available for individuals applying for the ‘Amazon Pay ICCI Bank Credit Card’. The bank will shortly extend the ‘Video KYC’ facility to other variants of credit cards, home loans, and other retail products.
As this facility allows individuals to complete the KYC process digitally within a few minutes, it is helpful for them. They can do so without physically meeting a bank official at the branch. It assumes greater importance during the ongoing Coronavirus pandemic. This is so because new individuals can complete their KYC requirements for a great many banking services remotely and digitally. An individual is in a position to complete the KYC crosses using his PAN card, a pen, and paper. This can be done from their home in a matter of a few minutes. Once done, the new customer savings or salary account gets fully operational in a matter of a few hours with no physical contact at all. When a new individual opens an online ‘Insta Save’ Savings Account, an instant account, he/she with the option for ‘Video KYC’.
The customers get the same option when they apply for the ‘Amazon Pay ICICI Bank Credit Card’. The ‘Video KYC’ is also available for other savings account variants like ‘The One’, gold privilege account, salary accounts, and personal loan. To avail the facility, one can connect with the Relationship Manager or branch official. During the process, the verification of a prospective customer’s KYC documents and signature are recorded through a video call with ICICI Bank officer. In this way averting the need of the customer physically contacting a bank branch. The individual has can also have the convenience of much time saving to the individual. Anyone can avail of the video facility following these simple steps.
- Apply for opening account/availing a personal loan or credit card: One can apply for an ‘Insta Save’ savings account accessing the bank’s website. Here the individuals need to enter PAN, validate using Aadhaar and OTP, etc.
- Click on Video KYC tab: Next the customer needs to click on the Video KYC tab visible online or the link received from the bank.
- Submit details for Video KYC: The individual has to keep ready his/her PAN card, a blank white sheet of paper, etc. They need to ensure healthy data connectivity as the bank officer records the PAN image along with the customer signature and facial image via the video call.
