Central Bank of India partnered with ID to implement digital Know Your Customer (KYC), video KYC and eKYC for its network across India. The aim of the partnership is to bring seamless onboarding and provide efficient digital facilities to the customers across India.
ID is India’s fastest and first-ever AI-based fully compliant Video KYC solution and a flagship product by Think360.ai. It has the target to digitize 10 million customers’ onboarding annually and streamline its end-to-end processes. Central Bank of India had an eight-month-long gruelling evaluation process on technology and product experience followed by a reverse auction commercial round for this selection. This partnership will support the bank in driving its digital transformation agenda and supporting digital finance initiatives championed by the government.
Important takeaways for all competitive exams:
- Central Bank of India Founded: 21 December 1911;
- Central Bank of India Headquarters: Mumbai, Maharashtra;
- Central Bank of India MD & CEO: Matam Venkata Rao;
- Central Bank of India Tagline: ‘Central’ to you since 1911.