PSU Banks plan to set up a VideoKYC-HUB

[RAMESH BABU N]

In order to avoid delay n duplication at various levels, PSU BANKS are likely to set up a common hub for all VKYC related functions n for ensuring a realtime sync with DigitalLocker n all other such Govt Agencies.

PSU banks plan common video KYC hub - ET BFSI

State-run banks are planning to establish a common video KYC hub to integrate their processes with the central KYC registry (CKYCR) to enhance convenience and efficiency. This move is expected to streamline customer onboarding, reduce verification time, and prevent frauds with real-time updates...

bfsi.economictimes.indiatimes.com

 

[ashwinikumar900]

In order to avoid delay n duplication at various levels, PSU BANKS are likely to set up a common hub for all VKYC related functions n for ensuring a realtime sync with DigitalLocker n all other such Govt Agencies.

PSU banks plan common video KYC hub - ET BFSI

State-run banks are planning to establish a common video KYC hub to integrate their processes with the central KYC registry (CKYCR) to enhance convenience and efficiency. This move is expected to streamline customer onboarding, reduce verification time, and prevent frauds with real-time updates...

bfsi.economictimes.indiatimes.com

This would be a good move, since PSU infrastructure is really messed up for seamless functionality of VKYCs.

 

[Hope]

They Already started doing ig

 

[viruss]

Very much needed.. My BOB VKYC pending from last 1 month due to some techincal issue..

 

[RAMESH BABU N]

One of the WORST VKYC experience I ever had was that of Federal Bank for Scapia.

Had to deal with useless third-party agents, totally unfit for the job. They never apply logic or common sense at all nor they know how to speak politely or behave properly.

Had to go thru the lousy process 4 times. Gave a detailed account n complained to Federal Bank after totally unhappy dealings with the first 3 agents (all girls).

In the 4th attempt, they transferred my call to an experienced (a bit senior girl) agent who did what she is expected to do. Focus on the task n complete it.

Hopefully, such things do not recurr for others when once such a hub expands it's reach to cover other private banks also, in future.

 

[viruss]

I have faced this issue with HSBC. Inspite of Having VKYC done successfully, they send me reminder again & again with same ID. Till now no email communication from HSBC about my CC aplication.
VKYC need to be standardised with some protocol.

 

[JigmeKhesar]

One of the WORST VKYC experience I ever had was that of Federal Bank for Scapia.

Had to deal with useless third-party agents, totally unfit for the job. They never apply logic or common sense at all nor they know how to speak politely or behave properly.

Had to go thru the lousy process 4 times. Gave a detailed account n complained to Federal Bank after totally unhappy dealings with the first 3 agents (all girls).

In the 4th attempt, they transferred my call to an experienced (a bit senior girl) agent who did what she is expected to do. Focus on the task n complete it.

Hopefully, such things do not recurr for others when once such a hub expands it's reach to cover other private banks also, in future.

I had a similar experience for savings account via Jupiter but with people wearing Federal Bank ID cards. When I requested to speak to the manager or refer me to the RBI circular which they are riding on, they would just hang up.

 

[JigmeKhesar]

They Already started doing ig

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that is C-KYC and been around for at least a decade. do you see any PSU bank in there?

this will just mean business for some vendor like the 59 minutes or mudra loan portal. these solutions exist now too but the banks can't just decide to implement it like Fintech start-ups do unless it's an order from the North Block.