NE BUSINESS BUREAU
CHENNAI, AUG 30
City Union Bank announced on Saturday that it has launched ‘Video KYC’ to facilitate their new customers to open Savings Account digitally from the comfort of the home, a bank release said.
“The RBI has permitted the Video-based Customer Identification Process (V-CIP) as a consent based method of establishing the customer’s identity, for customer onboarding. Based on this guideline we have launched the Customer Identification Process through video interaction for the opening of an account.
The prospective customers who wish to open an account with our bank have to download the “CUB Easy” App from their android phones and can open Account instantly using their PAN and Aadhaar,” the release added
The Bank officials will verify the KYC details of the customer through Video at customer’s convenient time. After verification the account will be made fully operational. Now, any person can open account instantly through the APP and gets 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.