Customers who are planning to open a new savings account with SBI will be able to take advantage of this new facility.
State Bank of India
The country’s largest government bank State Bank of India (SBI) on Friday launched a video KYC based account opening facility on its mobile banking app – YONO. India’s largest lenders said, this new facility will help customers to open an account with SBI without going to a bank branch. The bank said, this digital initiative powered by Artificial Intelligence (AI) and Facial Recognition Technology is a contactless and paperless process.
Commenting on the new facility, SBI Chairman Dinesh Khara said, “In the current situation, we are very happy to announce the facility of opening online savings bank account.” The video KYC facility is one step ahead to ensure customer safety, financial security and cost effectiveness.
Customers who are planning to open a new savings account with SBI will be able to take advantage of this new facility. Let’s know the process of opening a savings account in SBI through video KYC.
>> Download the YONO app on your phone.
>> Click on ‘New to SBI’ and select ‘Insta Plus Savings Account’.
>> Then, enter your Aadhaar details in the app.
>> After the Aadhaar authentication is complete, users will have to input personal details.
>> Then, the customer has to schedule a video call to complete the KYC process.
>> After the completion of video KYC, the account in SBI will open automatically.
YONO was launched in 2017
The YONO app launched in November 2017 has had 8 crore downloads and has more than 37 million registered users. SBI has partnered with more than 100 e-commerce companies in more than 20 categories on the YONO platform.
SBI chairman said, We are confident that this initiative will add a new dimension to mobile banking and empower customers to be digital for their banking needs. This development is another proof of our commitment to Digital India.
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