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Gone are the days when you had to go to the nearest branch of your chosen bank to open a bank account, or, starting a new FD, deposit a cheque or, even for applying for a loan. Now you can get all of that and more done from the comfort of your home using your laptop or, even your mobile. Online banking services provided by different banks have made it possible and over the last couple of years, it has become extremely popular. However, the growing popularity reached a whole new level when last year due to the pandemic we had to shift all our focus and activities indoors. The video KYC solutions however gave the biggest push as opening a bank account online became easier than ever before. Here are some reasons why online banking has become so popular.
Online Banking: Reasons Behind Its Popularity:
The first reason is the convenience that you can enjoy if you resort to online banking. You get to do everything you need without leaving the comfort of your home. For people who have busy professional lives, going to the bank on weekdays can be problematic. Also during the pandemic, it was clear to us that having access to digital solutions is a must because any kind of uncertainty can disrupt our daily life. The RBI gave video KYC verification the approval last year, which was a timely move. One can get the KYC done from home and it saves the banks time and money, and the customers can get their verification done in a jiffy and start accessing banking services. Online banking has truly become the solution to a host of problems.
We have to transfer money to other accounts and earlier it was a cumbersome experience. But when you access banking services online, transferring money from one account to another becomes a breeze. Digitalization is truly benefiting us in different ways, the video KYC process, for example, is not only helping the banks to get the KYC done easily but the businesses across different sectors are to adopt this measure.
People who belong to remote areas and where there is no branch available, benefit the most from the online banking services. They can easily get the banking done with the help of online solutions. It has a great impact on the economy too; the under-banked and unbanked sections get the opportunity to access banking services. The accessibility further gets better thanks to the video KYC solutions now whoever wants to get the KYC done from any remote village or, a town they can do so, and also start accessing the banking services.
For professionals, online banking gets easier and smoother thanks to online banking as you can also access any banking services you want using your phone. Mobile banking does take online banking to a whole new level, and that definitely enables you to do anything you want on the go. In fact, to get the video KYC verification done all you need is your mobile phone.
If you need to find out about any recent transaction then you can get that done in a jiffy with an online banking facility. You do not have to rush to the bank; you can get the information you need online instantly. Adopt the right security measures though to ensure that your transactions are staying secure. The video KYC process ensures security while carrying out the verification, while opening an account you should definitely consider opting for the video KYC, as the verification is done in real-time.
Those were a couple of reasons why online banking has become so popular. The online banking services coupled with the video KYC solutions are definitely winning hearts. If you haven’t taken advantage of it, then you should definitely give it some thought.