HDFC Bank launches video KYC facility: All you need to know

HDFC Bank today launched video KYC (Know Your Customer) facility for its customers. "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 bank said in a statement.

HDFC Bank video KYC facility will be rolled in a phased manner, In the first phase, savings and corporate salary and personal loan customers can avail this facility.

“We are delighted to announce the launch of Video KYC. 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," said Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank.

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

-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.

-Video KYC’s audio-video interaction is validated before the account is finally activated.

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.