Bank of Baroda launches paperless ‘INSTA CLICK SAVINGS ACCOUNT’

· 100% digital and self-assisted online savings account

· Digital KYC and Aadhar based OTP authentication

· Real time activation of S/B account

Mumbai, July 23rd, 2020: Bank of Baroda, India’s third-largest public sector bank, has launched ‘Insta Click Savings Account’, a 100% paperless digital self-assisted online savings account, for all its customers.

Bank of Baroda has been working towards continuously creating innovative digital offerings for customers; Insta Click Savings Account is one such outcome of the Bank’s efforts to transform digitally and make banking a safer and seamless experience for a customer, from the comfort of their homes.

The Insta Click Savings Account uses a new form of digital KYC and Aadhar based OTP authentication of the customer, which can be operated from the bank’s website, through Mobile phone, IPad, Laptops, and PC. The account is activated in real-time, which means the customer can start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.

The product also offers the customers an option to subscribe to a wide range of digital channels like Mobile Banking, Internet Banking, UPI, and Debit Card.

Speaking on the product, Shri. Sanjiv Chadha, MD & CEO, Bank of Baroda, said, “Bank of Baroda recognises that banking has transformed over the last few months. The needs of the customers have evolved, driving us to create innovative products to suit their requirements. We are working on digitisation of all our process and intend to be 100% paperless by 2023. The only way to ensure our customers can have a safe and secure banking experience without having the need to step out of their homes is with adoption of digital products and services.”