ICICI Bank launched Video KYC for credit card, personal loans and savings accounts

ICICI Bank has launched of ‘Know Your Customer’ (KYC) verification process through video interaction. Now, if any pf the customer wants to open an account in ICICI bank he would have to go through verification of ‘Video KYC’. This service is available for the new customers who would apply for savings account, including a salary account, or avail a personal loan with the Bank. Also, for the customers who would apply ‘Amazon Pay ICICI Bank Credit Card’.

“The facility of doing KYC verification through video interaction brings in a new paradigm as it makes the whole process digital, friction-less and fast to the customer. Armed with a digital device, PAN card, a pen and paper, a customer can complete his/her KYC process from their home in a matter of few minutes,” Anup Bagchi, Executive Director, ICICI Bank said.

ICICI Bank has become the first bank in the banking industry to allow video KYC for opening salary accounts and availing a personal loan.

Video KYC is really a very easy KYC process which works digitally within a few minutes, without physically meeting a bank official at the branch or their home. During coronavirus pandemic, it has become essential for banking industry, as new customers can complete their KYC requirements for the banking services remotely and digitally.