Video KYC: What It Is And How It Works

The Banking & Finance sector has seen rapid shifts in its landscape over the past few decades. Due to technological developments and rapid growth of the digital, traditional banking processes are now being digitised and more streamlined. One such innovation is Video KYC for bank account opening.

You must have already heard about KYC, short for Know Your Customer, and its use case in the banking sector. We at INDIE want to make your banking experience seamless and accessible. So let us make this procedure easier for you to understand.

What is Video KYC?

Video KYC is a digital initiative introduced by the Reserve Bank of India (RBI) in 2020 to expedite the verification process for online bank account opening. This enables customers to complete their KYC process remotely from their homes or offices, thereby removing the hassle of physical visits to bank branches.

It is a fully secure way of verification via video call facilitated by accountable bank representatives.

Now let’s get started on the A-Z of Video KYC

How to do Video KYC for opening your bank account at INDIE by IndusInd Bank?

Step 1: Start the Process

To begin the Video KYC for bank account opening, download INDIE by IndusInd Bank on your mobile phone and select the “Open Account” option. Fill the necessary details required for account opening and select “Complete Video KYC” at the end. 

Step 2: Schedule a Video Call At Your Convenience

After confirming your interest in Video KYC you will be connected to a verification agent. You will have to provide camera permissions to the INDIE app for capturing your video and validating your identity.  The only prerequisite is for you to have a stable internet connection and listed documents ready with you for verification.

Step 3: Verification Call and Check

Once connected, IndusInd Bank’s representative will initiate the video call. They will brief you about the process and ask you for your identity and address-proof documents such as Aadhaar card and PAN card. You also have to keep a white paper and a blue pen handy with you for live verification. Hold the documents close to the camera for our representative to verify the details accurately.

Step 4: Confirmation and Account Activation

Your account opening request will successfully go through the pipeline once your verification and authentication is completed.  You will receive a confirmation message or email containing the details of your new bank account along with instructions for activating it.

Once your Video KYC is complete, you will receive your welcome-kit to your registered mailing address.

To know the complete procedure for online bank account opening with INDIE, read: https://indie.indusind.com/indie/blogs/steps-to-open-indie-account.html

How does Video KYC benefit you and your banking experience?

Video KYC allows customers to complete the account opening process anywhere anytime. It’s convenient, fast and flexible for you. Since the Video KYC process adheres to strict security protocols, it ensures the confidentiality and integrity of your data. With real-time interaction with bank representatives, you can also clarify any queries or concerns related to the new account opening process, ensuring a smooth and hassle-free experience.

At INDIE, we ensure you get the best of the digital world by leveraging technology. With Video KYC on INDIE, we aim to make banking more accessible, convenient, and secure than ever before. Whether you're a new customer looking for online bank account opening or an existing customer exploring digital banking solutions, Video KYC offers a seamless and efficient way to fulfil your banking needs. Experience the future of banking with IndusInd Bank’s INDIE and open your account hassle-free today!