THE JHARKHAND STORY DESK
Mumbai, Dec 7: Leading banking institution Federal Bank has won “Bank of the Year (India)” from Financial Times owned The Banker. This is one of just three international awards that takes into account the achievements of banks in 120 different nations.
The Bank’s remarkable contributions to the banking industry over the past year, along with its persistent dedication to innovation and customer-centric services, have earned it this prestigious honour.
The MD and CEO of Federal Bank, Shyam Srinivasan, expressed gratitude and said, “This recognition is indeed special for us and we are humbled to be recognised as the best Bank in India. Our team has been at it with utmost focus to build the Most Admired Bank. A big thanks to our clients for both supporting and demanding the best from us. Keeps us inspired. We are indeed filled with gratitude as we commit to do our best, always.”
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Digital personal loan
A notable initiative that attracted attention was the launch of the Digital Personal Loan by Federal Bank. This inventive offering enables customers to complete the entire loan application and approval process online. Utilizing advanced algorithms for credit assessment, the Bank customizes individualized loan proposals, incorporating adaptable repayment terms. This strategy has considerably broadened the reach and influence of Federal Bank’s retail banking lending operationsTop of Form
Assisting rural customers
Federal Bank initiated the ‘Bank on the Go’ project in response to the difficulties rural consumers encountered in obtaining financial services. This pioneering initiative entails a mobile vehicle fitted with banking kiosks that travel to various locations. The vehicle is equipped with a leased line internet connection to ensure reliable connectivity, offering rural customers access to banking services without the necessity of undertaking extensive travel.
Chatbot for assistance
Federal Bank has adopted advanced technology to improve customer assistance, introducing “Feddy,” a chatbot powered by artificial intelligence. Feddy is accessible through a variety of channels, such as the official Feddy website, WhatsApp, Alexa, and Google Maps. In addition to offering responses predicated on website material, the chatbot can smoothly link users to live operators for more round-the-clock assistance.
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