Wednesday, August 23, 2023

Bank of Baroda Introduces “Video Re-KYC For Individual Resident Customers”

* Customers can complete Re-KYC digitally in just a few minutes in a secure manner without even having to visit their branch 

Bank of Baroda (Bank), one of India’s leading public sector banks, announced the launch of “Video Re-KYC” for eligible Individual Resident Customers. Available in English and Hindi, this is an alternative and more convenient method for customers to complete the periodic updation of KYC (Know Your Customer) digitally. Customers, whose Re-KYC is due, can complete their Video KYC in a few minutes without having to visit the branch. 

To avail the Video KYC facility, customers must be resident individuals, above 18 years of age and must have their Aadhaar number and original PAN Card. In the first stage, customers have to visit the Bank of Baroda website and complete the online Re-KYC application by submitting some basic information online. Once the online application is submitted, the Video KYC call with the bank executive will be conducted. For the Video call, customers will require original PAN Card, a blank white sheet of paper and a blue/black pen. 

Video Re-KYC calls will be undertaken during business hours (10:00AM to 6:00PM) on all working days.  

On successful completion of the video session, the customer details will be updated in the Bank’s records and a confirmation text message will be sent to the customer.  

Periodic updation of KYC (Re-KYC) is a mandatory requirement of the Reserve Bank of India (RBI) and customers need to immediately update their KYC documents with the bank when KYC update is due. The rollout of the Video Re-KYC facility makes the Re-KYC process much simpler, more convenient and elevates the entire customer experience. Customers of the Bank whose Re-KYC update is pending can now make the most of this facility and complete the process with ease. 

Bank of Baroda introduced Video KYC in the year 2021 to open full-fledged digital savings accounts. The Bank has now extended Video KYC for Re-KYC facility for the convenience of its customers.  

About Bank of Baroda 

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The Bank’s bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation. 

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