KOCHI:
In 16th Annual Banking Technology Awards of Indian Banks’ Association (IBA), Federal Bank was honoured for Most Innovative Project. The Bank emerged as runner up under the categories of Best Technology Bank of the Year and for Best IT Risk & Cyber Security Initiatives in medium banks category. Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology, Government of India was chief guest of the award ceremony which was held on a virtual platform.
IBA has been giving away Annual Technology Awards since 2004 with the objective of recognizing and rewarding the best performing Banks in the area of Banking Technology, digitalization and innovation. Over the years, this event has come to be recognized as the National Awards for use of technology in the Indian Banking Industry.
Federal Bank offers a suite of digital banking products to serve its varied customer base. The Bank introduced pathbreaking digital initiatives addressing the needs of times and has been winning accolades from different quarters. Insta-Demat (a facility for opening demat accounts instantly), FedSwagat (online appointment booking facility for branch visits), Federal 24 7 (video KYC based instant savings account opening service) etc are some of the most recent digital innovations from Federal Bank.
