SBI Launches Video KYC Based Savings Account Opening

The country's largest lender State Bank of India (SBI) has launched a video-based KYC facility on the YONO app to open a savings account. is. This facility will be available to customers opening a new savings account with the bank. 

The bank said in a statement that it is powered by facial recognition technology through artificial intelligence. In this, customers will not have 'contact' with anyone and there will be no paperwork. Dinesh Khara, chairman of the bank said that this is a step towards ensuring the life and financial security of customers and lower costs. 

We are confident that this initiative will add a new dimension to mobile banking and provide customers with the facility of being digital for their banking needs