Kochi: Customers can now update their KYC details at home. This is possible through the video KYC system. Several banks, including SBI, ICICI Bank, and HDFC Bank, have introduced video KYC facilities. Now South Indian Bank and IDBI Bank have introduced Video KYC.
South Indian Bank has introduced the facility for customers to open accounts through Video KYC. The account can be opened through a video call using a PAN card and Aadhaar number. The customer can open an account online by completing all the KYC procedures instantly. Video KYC was one of the major announcements made by the Reserve Bank as part of the covid measures
The Reserve Bank of India (RBI) has suggested that banks should set up video KYC facilities to prevent customers from visiting bank branches during outbreaks. The Reserve Bank of India (RBI) has also directed banks across the country to update KYC records via video as part of consumer-friendly measures.
As part of this, IDBI Bank has facilitated Video-Based Customer Identification (V-CIP). Customers can conveniently update KYC offline through the V-CIP link on the Bank’s website.