Karnataka Bank has launched online savings bank (SB) account opening facility through ‘Video-based Customer Identification Process (V-CIP)’.
The facility enabled in the corporate website of the bank, empowers prospective customers to open an SB account through online process and complete KYC (know your customer) verification through a video call at their place of convenience.
The end-to-end paperless digital process leverages the bank’s API (Application Programming Interface) that auto fills the account opening form, validates PAN/Aadhaar number instantly and completes the KYC process through a video call.
Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, a statement said online SB account opening facility through V-CIP will take the customers experience to a new high as it reduces the turnaround time of account opening.
“While making the customer on boarding process more seamless and user friendly, I am sure this new facility will help to on board new generation and young clients to the bank platform. Bank is now focusing on taking the digital initiatives to the next level by focusing on ‘KBL NxT’ concept under wave 2.0 of our transformation journey ‘KBL-VIKAAS’, and many more initiatives are in the offing to evolve as the ‘digital bank of future’,” he said.