Kotak Mahindra Bank has launched mobile application “Kotak Now”, the country’s first digital account opening process on mobile. Now no need to go to bank for just opening a bank account. Kotak Now application allows you to open a bank account via mobile.
The end to end paperless digital process involves verification of KYC documents and signature via a video call with the bank. There is no need to visit bank for physical interaction or biometric verification.
How to open bank account via mobile with Kotak Mahindra Bank ?
Before proceeding for bank account opening via mobile, you need to be ready with scanned images of KYC documents like PAN card, Aadhaar card or passport and your signature. Now go through following steps :
- Now download the Kotak Now app from Google play store on android phone.
- KYC: Upload your KYC documents like PAN card and either Aadhaar card or Passport and image of the signature.
- Now fill in few personal details asked in the application form on app and submit.
- Your Customer Relationship Number (CRN) and Account Number will be generated.
- The app will automatically select a branch closest to your address for correspondence.
- Activation of Account : The account will be activated after a video call with a bank executive.
“About 50% of all transactions in the last few years have moved to digital channels like Net banking and mobile banking. Most services are now being made available on the move to customers via these platforms. However, the account opening experience for Indian consumers was still a challenge, and has thus far required high level of manual effort from their end. Kotak Now is in-line with our mobile-first approach and is a path-breaking step in making banking truly digital,” says Deepak Sharma, Chief Digital Officer, Kotak Mahindra Bank.
Kotak Now has been developed with the patented technology of Germany-based WebID Solutions and reduces the time involved in opening a bank account, also ensuring data security.
Currently, Kotak Now enables customers to open a Jifi account through this process. Other savings account variants will be introduced in a phased manner.