Money & Banking

RBL Bank launches contactless banking initiatives

Our Bureau Mumbai | Updated on May 22, 2020

RBL Bank on Friday announced the launch of several contactless banking initiatives including services on WhatsApp with real-time updates with information on account balance, credit cards, products and even opening of new digital account.

It has also introduced instant digital bank account opening with video KYC as well as a virtual debit card in its Mobile app, that would enable contactless transactions without the need for plastic cards.

“Aligned to the New Normal of social distancing and contactless transactions, RBL Bank, goes live with several contactless banking initiatives, eliminating the need for physical contact amidst these unprecedented times of COVID-19,” it said in a statement.

Surinder Chawla, Head, Retail Liabilities and Wealth Management, RBL Bank said noted that adoption of digital channels has grown by 98 per cent during the year.

“Our digitally acquired savings account grew 4X during the lockdown period and we anticipate it to grow to 10X in the next quarter. We also expect the digital wave to continue as more customers realise the many benefits of banking on-the-go, especially given the need for safety and hygiene protocols in these times,” he said.

Published on May 22, 2020

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