State Bank of India launched a Video KYC based account opening feature on its mobile banking app – YONO. This new feature will help customers open an account with SBI without having to visit a bank branch, India’s largest lender said. “This digital initiative powered by Artificial Intelligence and Facial Recognition Technology is a contactless and paperless process,” the lender further added. Commenting on the new functionality, Dinesh Khara, chairman, SBI said, “It gives us immense pleasure to announce the launch of online savings bank account opening facility which is very much necessary in the current pandemic situation. This is a step ahead to ensure customers’ safety, financial security, and cost-effectiveness.” Customers, who are planning to open a new savings account with SBI, will be able to avail this new feature. On successful completion of Video KYC, the account will be automatically opened. “We believe this initiative will add a new dimension to mobile banking and empower customers to go digital for their banking needs. This development is yet another proof of our commitment to a digital India,” Khara added.
#SBI #VideoKYC #YONO #KYC #Hybiz
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