Press release
Mangaluru, June 22: Karnataka Bank has today launched the SB online account opening feature through the “Video-Based Client Identification Process (V-CIP)”. The feature enabled on the Bank’s corporate website allows any potential customer to open a savings account through an online process and complete KYC verification through a video call at their convenience. The end-to-end digital paperless process relies on the bank‘s Application Programming Interface (API) which automatically fills in the account opening form, instantly validates the PAN/Aadhaar number and completes the Know process Your Customer (KYC) via video call.
During the launch of the facility, Shri Mahabaleshwara MS, MD and CEO said, “The online SB account opening facility through V-CIP will take the experience of the customers to a new height as it reduces the execution of the account opening by eliminating the need for the customer to be physically present at the branch to complete the Know Your Customer (KYC) process. While making the customer onboarding process more seamless and user-friendly, I’m sure this new facility will help onboard new Gen & Young customers to the Bank’s platform. The bank is now focused on taking digital initiatives to the next level focusing on the “KBL NxT” concept as part of wave 2.0 of our KBL-VIKAAS transformation journey and many more initiatives are on the way as the “Digital Bank of the Future”.
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