Oriental Bank launches Aadhar based e-KYC service

Opening an account with Oriental Bank of Commerce (OBC) could now turn out to be a hassle-free experience. This public sector bank has announced the launch of Aadhar-based electronic know your customer (e-KYC) service at its branches, making the account opening exercise less daunting for prospective customers. OBC has become the first public sector bank to launch e-KYC services in coordination with the National Payments Corporation of India and Unique Identification Authority of India (UIDAI), a release issued by the bank said. A prospective customer looking to open an account in OBC will have to just walk into a branch and provide his/her Aadhar number and scan one of his enrolled fingerprint at biometric devices available at the branches. Using the e-KYC services of UIDAI, the bank will verify the identity and address of the customer and thereby reduce the processing time for opening an account.