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The two-day e-lounge exhibition organized by Federal Bank on the sidelines of the 14th K P Hormis Memorial Commemorative Lecture held at Hotel Le Meridien, Kochi recently, attracted thousands of students from various colleges and schools in and around Kochi. The digital capability of the Bank was in full display as about 10 digital offerings pioneered by the Bank were showcased at the exhibition. FedBook Selfie, the award winning innovative mobile app for account opening; FedBook, India’s first electronic passbook that has won many accolades; Scan N Pay, the one and only QR based payment solution that has won Banking Frontiers Finnoviti Award 2015; Fedmobile, the Bank’s all new simpler, faster and friendlier mobile banking app that has won IDBRT Banking Technology Excellence Award 2013-14; Missed call and SMS services for Funds Transfer, mobile recharge and balance enquiry that widens reach of digital experience to the masses; Virtual Agent Anitha, the first of its kind interface with artificial intelligence; Carry no documents account opening; e-KYC; Video Chat; Self service Kiosk etc were on display. The Governor of Reserve Bank of India, Dr Raghuram Rajan, after visiting the lounge said, “if we were to talk about the future of banking, I just walked through the future of banking”.
Commenting on this new initiative Shri K A Babu, Digital Head, Federal Bank said: “This is perhaps the first time in the country that a bank has organized such an exhibition where the future architects, the college and senior level school students, got first-hand experience of the future of banking. For the Bank this was a great opportunity to reach out to them. Our young officers put in commendable efforts to share with the students the disruption that is happening in the digital banking space and the lead that Federal Bank is taking on this front. The Bank has plans to set up similar digital lounges across the country at select locations to share with the banking public and the youth the digital advancements that is happening in the banking industry”.
About Federal Bank:
Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,548 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.22 Lakh Crore as at March 31, 2015 and it has earned a net profit of Rs 1005.75 Crore. Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.46% at the end of March 31, 2015. Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.