In a remarkable move towards convenience and customer-centricity, Bank of Baroda (BoB) has unveiled its innovative Video Re-KYC service.
Eliminating the need for physical visits to branches, customers can now update their KYC details from the comfort of their homes.
With this forward-looking initiative, BoB sets a new standard for streamlined banking services.
Exploring Video Re-KYC:
BoB’s Video Re-KYC service caters to individuals holding both an Aadhaar number and a PAN card.
The process begins by visiting the official BoB website or app and clicking on the designated “Video Re-KYC” link.
Subsequently, customers provide their account number and mobile number, receiving a One-Time Password (OTP) on their mobile device.
Once the OTP is entered, a connection is established with a BoB banker who verifies the customer’s identity through a video call.
To initiate the Video Re-KYC service, customers first access the BoB website and fill in basic information to complete the online Re-KYC application.
Following submission, a video KYC call with a bank official ensues. For the video call, customers need a PAN card, a blank white sheet of paper, and a blue/black pen.
The video call can be scheduled between 10:00 AM to 6:00 PM on all working days, ensuring flexibility for customers.
Benefits of Video Re-KYC:
The Video Re-KYC service allows for real-time updating of customer details. Upon conclusion of the video call, the updated information is seamlessly integrated into the bank’s records.
Customers receive a confirmation message, signifying the successful completion of the process.
BoB emphasizes that this service significantly reduces the time required for re-KYC and obviates the necessity for branch visits.
Adhering to Regulatory Requirements:
Keeping in line with RBI’s stipulation for periodic KYC updates, Bank of Baroda’s introduction of the Video Re-KYC service underscores its commitment to providing modern and efficient banking solutions.
Having initially introduced Video KYC in 2021 for digital savings account opening, the bank has now extended this facility to re-KYC procedures, further enhancing customer experience.