With an aim to bring better onboarding and digitisation practices, Central Bank of India (CBI) has selected Kwik.ID to implement digital KYC, video KYC and eKYC for its expansive network across India.
This partnership will help the bank in driving its digital transformation agenda and supporting digital finance initiatives championed by the Government of India.
With Kwik.ID, CBI aims to digitize 10 million customers’ onboarding annually and streamline their end-to-end processes. The plug and play model by Kwik.ID has the industry’s highest completion rate of 85% that percolates seamlessly to low-bandwidth regions, thereby catalysing the public bank’s efforts towards rural digitisation and financial inclusion.
Kwik.ID is a flagship product by Think360.ai — a full stack AI firm with market leading products, solutions and advisory services — that has conducted over 1.5 million such sessions for some of India’s biggest digitisation, customer onboarding and KYC practices for Bank of Baroda, RBL Bank, Bajaj Finserv and Spice Money, among others.
Amit Das, CEO and Co-founder, Think360.ai said, “This partnership with Central Bank of India is the starting point for building a relationship focused on delivering customer centric services while addressing the gap in availability of financial services across tier 2 tier 3 and rural areas.”
Abhishek Joshi, Product Manager of Kwik.ID added, “Our common goal with the CBI team is to offer a convenient digital banking experience to millions of new and existing CBI customers, with our technology expertise and understanding of financial services. This is definitely one of the landmark moments in making the ‘Digitally Inclusive Bharat’ dream come true.”
