HDFC Bank has launched video KYC (Know Your Customer) facility for its customers. The consent-based Video KYC facility is an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment. As per the Reserve Bank of India (RBI) directions, successful completion of Video KYC is equivalent to full KYC and the customers is eligible for all financial / banking products.
HDFC Bank video KYC facility will be rolled in a phased manner. In the first phase, savings and corporate salary and personal loan customers can avail this facility. The video KYC process is online, secure, and quick. It is a paperless, contactless, and recorded interaction between a Bank official and the customer.