HDFC Bank launches Video KYC facility

With Video KYC, prospective customers can open a full KYC all benefit account quickly through an online and secure journey

Mumbai. HDFC Bank today announced the launch of Video KYC (Know Your Customer) facility. After successful completion of the pilot project, HDFC Bank has deployed consent-based Video KYC facility as an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment.

The video KYC facility is a result of an Agile Pods comprising teams from Branch Banking, Digital Banking and Retail assets working together. At HDFC Bank, there are various Agile Pods working on new products and services for customers. This is in line with the One Bank vision of harnessing the competencies and capabilities of various teams for strategic projects in the Bank.

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. It is available on working days from 10 am to 6 pm.

Prospective customers can now sit in the comfort of their home or office and open a full KYC – all benefits account in HDFC Bank in a few minutes and avail the bank’s world-class products and services. The Video KYC process is online, secure, and quick. It is a paperless, contactless, and recorded interaction between a Bank official and the customer.

For Video KYC, customer needs to:

Complete Aadhaar OTP-based EKYC in Bank Application
Keep original PAN Card handy
Be in India while performing Video KYC
Have a smartphone with a good data connectivity
After the customer completes his / her Aadhaar eKYC through the Bank Website / Insta Account Opening App available on Playstore, he / she gets connected to a Bank official who undertakes Video KYC.

Typically, during a Video KYC involves the bank official will

Verify customer’s information
Click customer’s picture
Click customer’s PAN card image
Video KYC’s audio-video interaction is validated before the account is finally activated.

“We are delighted to announce the launch of Video KYC,” said Mr Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank. “In the first phase, we’re rolling it out for Savings and Corporate Salary and Personal Loans customers and will be rolled out for other products in a phased manner. This facility is in line with our objective to leverage technology to deliver convenience to our customers. We are happy to state that the Video KYC is an outcome of our agile pod working together as part of the One Bank vision taking one more step in customer experience excellence journey.”