Bank of Baroda (BoB) which is the India’s third-largest public sector bank ha recently launched ‘Insta Click Savings Account’ for all its customers. This new service of Insta Click Savings Account will use a new form of digital KYC and Aadhar based OTP authentication of the customer which will be operated from the bank’s website, through internet banking or mobile app. This will activate the account in real-time. This will help the customers to start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.
“We are working on digitisation of all our process and intend to be 100% paperless by 2023. The only way to ensure our customers can have a safe and secure banking experience without having the need to step out of their homes is with adoption of digital products and services,” Sanjiv Chadha, MD & CEO, Bank of Baroda, said.
The product will give option to customers to subscribe to a wide range of digital channels like mobile banking, internet banking, UPI, and debit card.