Karnataka Bank launches Online SB Account opening facility through 'Video based customer Identification Process'

Karnataka Bank has today launched Online SB Account opening facility through 'Video based Customer Identification Process (V-CIP)'. The facility enabled in the Corporate Website of the Bank, empowers any prospective customer to open a Savings Account through online process and complete KYC verification through a video call at their place of convenience. The end-to-end paperless digital process leverages the bank's Application Programming Interface (API) that auto-fills the account opening form, validates PAN/ Aadhaar number instantly and completes the Know Your Customer (KYC) process through a video call.

Launching the facility Shri Mahabaleshwara M.S, MD & CEO said, "Online SB Account opening facility through V-CIP will take the customers experience to a new high as it reduces the turnaround time of account opening by eliminating the need of customer's physical presence at the branch to complete Know Your Customer (KYC) process. While making the customer on boarding process more seamless and user friendly, I am sure this new facility will help to on-board new Gen & young clients to Bank platform. Bank is now focusing on taking the digital initiatives to the next level by focusing on 'KBL NxT' concept under wave 2.0 of our Transformation Journey KBL-VIKAAS and many more initiatives are in the offing to evolve as the 'Digital Bank of Future'".

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 64.50 as compared to the previous close of Rs. 65.10. The total number of shares traded during the day was 41841 in over 726 trades.

The stock hit an intraday high of Rs. 65.25 and intraday low of 64.00. The net turnover during the day was Rs. 2704331.00.

Source : Equity Bulls

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