In a move to make things easier for its customers, Bank of Baroda (BoB), a public sector bank, has introduced a ‘Video Re-KYC’ service.
This service allows customers to complete their ‘Know Your Customer’ (KYC) process without having to physically visit a bank branch.
Let’s explore the details of this new facility and how it benefits account holders.
Who Can Use the Video KYC Facility
The ‘Video Re-KYC’ option is available for individual account holders of Bank of Baroda who are Indian citizens and are 18 years of age or older.
To use this service, customers need to have their Aadhaar Number and PAN Card.
The Easy Steps to Complete Re-KYC
The process to use the ‘Video Re-KYC’ service is simple and convenient. Customers can start by applying for Re-KYC on the bank’s website.
Once the online application is submitted, a bank employee will conduct a video call to complete the KYC process.
During the video call, customers need to keep their PAN card, a white paper, and a blue or black pen handy.
Time and Convenience
Bank of Baroda ensures that the ‘Video Re-KYC’ calls can be made on any business day between 10 am to 6 pm.
Once the video call is completed, the customer’s details will be updated in the bank’s records.
To keep customers informed, the bank will also send a message confirming the completion of the process.
Bank of Baroda initially introduced the video KYC facility in 2021 for Digital Savings Accounts.
Now, this efficient method has been extended to serve the traditional customers as well.
Simplifying KYC Verification
KYC verification is a regulatory requirement for banks. The KYC Registry, used by over 5,500 financial institutions worldwide, manages the KYC exchange process for corporate customers.
Individual resident customers who possess an Aadhaar number and an original PAN card can take advantage of the ‘Video Re-KYC’ process.
This digital method offers a paperless, touchless, and contactless way to update KYC details.
With this service, there’s no need to make a branch visit; customers can complete the process from the comfort of their own place.
Bank of Baroda’s ‘Video Re-KYC’ service introduces a hassle-free way for customers to fulfill their KYC requirements.
By utilizing technology and a straightforward process, the bank aims to provide convenience and efficiency to its valued customers.
