SBI YONO launches video KYC-based opening of savings account

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The State Bank of India (SBI) has launched a video KYC-based account opening feature on its YONO mobile banking app. The bank introduced this latest feature to help customers open an account without having to visit the bank branch. Considering the current pandemic situation, this digital initiative will support a contactless and paperless process, powered by Artificial Intelligence (AI) and Facial Recognition Technology. The customers who are planning to open a new savings account with SBI can do so with this video KYC feature.

You can avail this facility by these simple steps:

1. Download the YONO App
2. Click on ‘New to SBI’
3. Select ‘Insta Plus Savings Account’
4. Enter Aadhaar details in the app and complete the Aadhar authentication
5. Enter other required personal details and schedule a video call to complete the KYC process
6. On successful completion of Video KYC, the account will be automatically opened

On the launch of this video KYC based account, the chairman of SBI, Dinesh Khara, said, “It gives us immense pleasure to announce the launch of online savings bank account opening facility which is very much necessary in the current pandemic situation.”

“This is a step ahead to ensure customers’ safety, financial security, and cost-effectiveness. We believe this initiative will add a new dimension to mobile banking and empower customers to go digital for their banking needs. This development is yet another proof of our commitment to a digital India,” he added further.