Murali Vaidyanathan, President & Country Head - Branch Banking, Liabilities, Product & Wealth, Equitas Small Finance BankLimited, said, “Equitas SFB has always provided a better experience for its customers. Today, Equitas SFB is bringing ina new digital banking experience to its customers, the new video KYC account is a step forward towards our vision. This will ensure contactless, no branch visit and hassle-free account opening and transactions for customers.”
Here are some of the features of Video KYC account works, as per the filing by Equitas Holdings:
- A customer receives SMS.
- Fills form before VKYC.
- Agent panel can see & interact with the customer video & customer’s location.
- Random questions are asked from the customer to check the liveliness of the person.
- Customer’s Aadhaar details are confirmed during the Video call with previously submitted documents while opening the selfie account.
- Wet signature is collected from the user by asking the user to switch the camera from front to rear and signing on a white paper.
- Customers are asked to submit the PAN card through the rear camera. The process can be extended to add images to be collected if required.
- Facial recognition is done on the image captured during the video call with the image as per the documenting banking records.
- Customer is also asked for a debit card/cheque book confirmation for issuance request to be taken on the same video call. Communication address is also verified on the video call.
- The checker(s) can access this transaction by logging in their panel which will list all the available transactions.
- Rejection can be turned into a retry SMS with a reason for rejection.
On Sensex, the Equitas Holding stock ended at Rs53.50 per piece down by 2.37%.