HDFC Bank launches video KYC – Times of India

MUMBAI: HDFC Bank has enabled opening of savings account remotely by activating video KYC. The bank is also offering personal loans to new customers who can avail of the facility.
Video KYC requires the prospective customer to have an Aadhaar and PAN number. The prospective customer needs to download the bank application and complete an Aadhaar OTP-based eKYC. After completing this they get connected to a bank executive who undertakes Video KYC. This process requires the customer to have a physical copy of documents and the customer needs to be present in India.
During the video-KYC call, which is done during weekdays between 10am and 6pm, the executive will verify the customer’s information, click pictures of the customer, and account opening documents.
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 is eligible for all financial / banking products.