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State Bank of India (SBI) has introduced a video KYC-based account opening feature on its mobile banking app YONO to enable customers to open a new savings account without having to visit a branch. “This digital initiative powered by Artificial Intelligence (AI) and Facial Recognition Technology is a contactless and paperless process,” it said.
“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,” said Dinesh Khara, chairman, SBI.
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