State Bank of India (SBI) has launched a video KYC-based account opening characteristic on its cellular banking app YONO to allow clients to open a brand new savings account with out having to go to a department. “This digital initiative powered by Artificial Intelligence (AI) and Facial Recognition Technology is a contactless and paperless process,” it stated.
“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,” stated Dinesh Khara, chairman, SBI.
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