The City Union Bank has launched a 'Video KYC' to help new customers to open Savings Accounts digitally from the comfort of their homes.
The RBI has permitted Video-based Customer Identification Process (V-CIP) as a consent-based method of establishing the customer's identity, for customer onboarding. Based on these guidelines, the bank has launched the Customer Identification Process through video interaction for the opening of an account.
The prospective customers who wish to open an account with City Union Bank have to download the "CUB Easy" App from their android phones and can open an Account instantly using their PAN and Aadhaar. The Bank officials will verify the KYC details of the customer through Video at the customer's convenience. After verification, the account will be made fully operational.
Now, any person can open account instantly through the APP and get the account converted into a full KYC account through this Video CIP process without visiting the branch personally. This facility can be used from anywhere and anytime to start the banking.
Disclaimer: This is a press release shared by City Union Bank.