The banks could also work jointly to set up a shared database which would enable them to securely see information on a customer (KYC information and facilities availed from various banks etc.) based on a unique identifier i.e. his Aadhaar ID.
In the process, banks would be able to leverage upon the KYC exercise already carried out by the previous bank and also benefit from consequent lower customer acquisition costs, simplified account opening processes without repeated burdensome procedures for the customers and also promote financial inclusion.