Federal Bank bags IDRBT Best Bank Award for Digital Banking, Analytics and Big Data among mid-sized Banks

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By,K Ashwin Mobile:00919920183006 Email:indianshowbusiness@gmail.com

Federal Bank has won the prestigious IDRBT Banking Technology Excellence Award 2014-15 being adjudged as ‘Best Bank for Digital Banking, Analytics and Big Data’ in the mid-sized banks segment. The award was presented to the Bank at a function held at the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad today. Mr. Ganesh Sankaran, Executive Director, Federal Bank, received the award from Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. Instituted in 2001, the IDRBT Banking Technology Excellence Awards are meant to recognize and honor the best innovative use of information technology to enhance the levels of customer delight.The IDRBT Award is recognition for the series of digital initiatives undertaken by the Bank this year that include FedBook Selfie, the first-of-its-kind mobile App for account opening and Scan N Pay, the innovative mobile based Payment app which has the capability to scan the QR code, facilitating payments at merchant outlets & ecommerce websites as well as person-to-person fund transfer.

Federal Bank is winning the IDRBT award for the 5th consecutive year. In 2013-14, the Bank was recognized as Best Bank for Use of Technology for Financial Inclusion, Best Bank for Social Media and Mobile Banking, Best Bank for Business Intelligence Initiatives and Best Bank for Best IT Team.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,251 branches and 1,523 ATMs spread across the country. The Banks 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. Banks 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.

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