Equitas Small Finance Bank adds a new feather in its cap; launches video KYC

Equitas Small Finance Bank Limited launched a video KYC account on Friday. It is a web application designed to conduct a remote verification process through a video call.

The video call has to be triggered by the relationship executive’s domain, which would be recorded and stored. The customer has to submit their Aadhaar and PAN Card details on the video call for the bank to verify.

The bank has revamped its mobile app to deliver most of the services over the app itself. Besides, it is also working to roll in remaining services as well over the app. With this, any person, sitting anywhere in the country, can open a savings account with Equitas Small Finance Bank, complete the full KYC on a video call with the bank employee and start enjoying the benefit of 'do it yourself' (DIY) service.

Over the years, the banking and finance industry has embraced digital technology at a fast pace. In times of such pandemic-led social distancing, such initiatives will help the bank attract more customers without fearing the virus.

The stock of Equitas Holdings Limited closed at 53.50, down by 2.37  per cent or Rs 1.30 per share. The intraday high is Rs 55.60 and intraday low is Rs 52.90.