SBI account holder? BIG CHANGE! From now, OTP required to access your online account; know why
A big change has been announced for SBI account holders online. India’s largest lender the State Bank of India (SBI) in an attempt to make its digital infrastructure strong has added an OTP (One-Time-Password) based login for all SBI account holders.
“SBI makes online banking safer for you with our OTP-based login for added security. Now bank carefree from the comfort of your home”, the government-owned public sector bank said in a tweet through its official Twitter handle @TheOfficialSBI
While tweeting a 29-second textual video, SBI wants to make internet banking safer for all its users. It urges its customers not to share the OTP/password/user information with anyone and the bank never asks for such information, it further said in the video.
SBI makes online banking safer you with our OTP based login for added security. Now bank carefree from the comfort of your home.
— State Bank of India (@TheOfficialSBI) April 23, 2021
For better control and security of the account, customers can lock or unlock their INB (SBI Net Banking) access through the link ‘Lock and Unlock User’ available at the bottom of the internet banking login page, SBI also said the in a video message.
Banking and financial entities have been continuously strengthening their digital infrastructure. Since 2016 post demonetisation to the current covid situation, the physical banking activity has reduced largely.
The public sector lender, separately, had also launched a video KYC feature for the opening of a savings account on its YONO mobile banking app. Powered by artificial intelligence and facial recognition technology, the initiative is a contactless and paperless process, SBI said.
This news feature will be available for those people who are planning on opening a new savings bank account with the SBI.
In order to avail this, a customer needs to download and open the YONO SBI app, then click on “New to SBI”, select “Open Savings Account” and then “Without branch visit”. Then they’ll have to select Insta Plus Savings Account”.
Customers will be required to give their Aadhaar card details, and on successful authentication of information given, they will have to enter personal details and schedule a video call to complete the KYC process. On successful completion of video KYC, the account will be opened, the bank said.
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