Kotak Mahindra Bank becomes first bank in India to allow video KYC

Kotak Mahindra Bank becomes first bank in India to allow video KYC

Kotak Mahindra Bank becomes first bank in India to allow video KYC

  • Kotak Mahindra Bank has introduced the video-KYC facility for customers opening savings account on Kotak 811 platform.
  • With this, Kotak Mahindra Bank has become the first Indian bank to offer video-based “zero-contact” onboarding service.
  • RBI has introduced the notification regarding Video-based KYC in January 2020. With Video KYC, verification of documents, signature are completed via a video call with a representative from the bank without any physical interface.

Points to remember:

  1. Which is the first bank in India to introduce video-based KYC?- Kotak Mahindra Bank

Source: Economic Times

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