Kotak Mahindra Bank, one of the largest private sector banks in India, has unveiled an application ‘Kotak Now’ that would allow new customers to open an account in a more simpler and cost-effective manner. This is an end-to-end application wherein a customer will be able to open a bank account within 10 minutes, without worrying about visiting a branch or any other merchant. The bank tied-up with a German start-up ‘WebID’ which has a patented technology to establish identities through specially built algorithms and has already implemented it in 30 banks worldwide.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
