Kotak Mahindra Bank becomes first Indian lender to allow video KYC

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on Monday bank has introduced video-KYC facility for customers opening savings account on Kotak 811 – the banks digital banking platform. The private lender is the first Indian bank to offer video based “zero-contact” on boarding service.

The initiative is presently being launched on a pilot basis for savings accounts, Kotak Mahindra said in a press release. “The video KYC process to onboard new customers will be extended to other products in a phased manner,” the bank said in a statement.

With Video KYC, verification of documents, signature are completed via a video call with representative from the bank without any physical interface.