Bank of Baroda (BoB) has launched ‘Insta Click Savings Account’ that uses a new form of digital KYC and Aadhar-based OTP authentication of the customer. The account can be opened on the bank’s website, through internet banking or over its mobile app. The account is activated in real-time, making the account opening process instant, allowing customers to start transacting using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.
“We are working on digitisation of all our process and intend to be 100% paperless by 2023. The only way to ensure our customers can have a safe and secure banking experience without having the need to step out of their homes is with adoption of digital products and services,” said Sanjiv Chadha, MD & CEO, Bank of Baroda.
