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Federal Bank Bags 4 out of the Total 5 IDRBT Awards in Mid-Sized Banks Segment

Oct 16, 2014   18:58 IST 
Mumbai, Maharashtra, India

Federal Bank has won the prestigious IDRBT Banking Technology Excellence awards  for 2013-14 in 4 out of a total of 5 categories in mid sized banks segment. The Bank was adjudged as:

(a) Best Bank for Use of Technology for Financial Inclusion,

(b) Best Bank for Social Media and Mobile Banking,

(c) Best Bank for Business Intelligence Initiatives and

(d) Best Bank for Best IT Team, thus becoming the Bank to have won the maximum number of awards this year.


The Awards were presented to the winners at a special function held at Hyderabad on October 15, 2014. Mr. Shyam Srinivasan, MD & CEO, Federal Bank, received the awards from Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. Instituted in 2001, the IDRBT Banking Technology Excellence Awards are meant to recognise and honour the best innovative use of information technology to enhance the levels of customer delight.


Federal Bank is winning IDRBT awards for the 4th consecutive year. The bank was recognized for the Best IT Team and Best Mobile Banking in 2012-13, for Best Mobile Banking & Electronic payment and CRM & Business Intelligence Initiativesin 2011-12 and for Best use of IT for Internal Effectiveness among small banks in 2010-11. Obviously, in Mobile Banking, with three consecutive wins the bank has scored a hat-trick.


About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1215 branches and 1,447 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at  Rs 1.03  Lakh  Crore as at March 31, 2014and it has earned a net profit of Rs 838.89 Crore.  Its Capital to Risk weighted Ratio (CRAR) stood at 15.14% at the end ofMarch 31.  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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