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Online KYC is Here!

If board meetings, family get-togethers and even marriages can happen via video calls, could opening bank accounts have been far behind?


Several Indian banks are preparing to offer customers the option of opening a new account through video conferencing instead of visiting a branch. Most of the large lenders are in the final stages of launching know-your-customer (KYC) video platforms, said bankers familiar with the matter.


Wriju Ray, co-founder of IDfy, said his platform has gone live with a few banks with its video KYC platform and found that end users have adopted it with gusto. “In the post COVID world, there is certainly great momentum with large number of banks and NBFCs currently integrating and preparing to go live,” he said.


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