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Kotak Bank to introduce tab banking

News Updates 30 June 2016_html_7e02a54Kotak Mahindra Bank will soon introduce account opening through computer tablets. This may happen in 2-3 months across the country, according to Ambuj Chandna, senior executive vice president of the bank. In a pilot, the bank will offer the facility to open accounts in less than 10 minutes for corporate salary account holders in Mumbai, Delhi, Pune and Bengaluru. Chandna said the bank is focusing on the digital side of the business. About 60% of RDs are being opened through digital (internet and mobile) channels now, and more than 10% TDs of the bank are being booked online. He said savings account customers are doing most of their transactions digitally and the bank is seeing a drop in visits to branches. About 38% of the bank’s customers are active on digital channels. Digital channel activity has increased by 8.1% for the bank, compared with an average of 3.9% improvement for the industry.

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