· First bank in India to introduce a mobile app
based process for opening current accounts in a few hours
· Uses APIs for real-time validation of KYC
documents of customers and their businesses
IndusInd
Bank announced the launch of a first-of-its-kind assisted mobile application
based facility, that enables the Bank to open current accounts for self-employed
individuals and businesses digitally, in just a few hours.
Equipped
with the Bank’s state-of-the-art ‘Indus Corporate’ mobile app, bank officials
can now capture and verify information about customers and their businesses in
real-time, at the premise of the customer in a convenient and secure manner.
With this, customers can now experience a faster and seamless account opening
journey with the bank, without the hassle of arranging physical KYC documents
of themselves or their firm.
The app uses multiple ‘Application Programme
Interface’ (APIs) which enables secured validation of KYC documents from
authorised government platforms such as the Goods and Service Tax (GST),
Ministry of Corporate Affairs (MCA), National Securities Depository Limited
(NSDL), Import Export Code (IEC) and Aadhaar. The facility can be used to open
current accounts for all kinds of businesses including proprietorship,
partnership as well as private & public limited companies, among others.
· Faster and
seamless account opening: With the help of a digital journey, current
accounts can now be opened within a few hours, which helps customers to
initiate their business transactions faster.
· Choice Account
Number: Customers are given the privilege of choosing an account number of
their choice which they can easily remember
· Paperless KYC
documentation: Customers need not go through the hassle of submitting
physical KYC documents which also helps in reducing the usage of paper
· Accuracy of data:
Details of the digitally validated documents of the said entity and the
authorised signatories will be fetched directly from govt. databases using APIs
While
the account number is provided to the customer at the time of the account
opening procedure itself, the account is made operational within 24 hrs.
The
launch of the mobile application based facility for opening current accounts
comes close on the heels of our recent announcement on the expansion of our
video banking services, with the integration of a ‘Video KYC’ platform for on
boarding savings account and credit card customers.
Mumbai, June 4, 2020