Federal Bank Launches Revamped Version of ‘FedMobile’; Announces Cash Back Offer for the First Transaction by Customers

Federal Bank announced the launch of the revamped version of FedMobile, the Mobile Banking App of the Bank. The new and improved version comes with added convenience to customers making it simpler, faster and friendlier to use. Using the new FedMobile, customers can register for mobile banking anywhere, anytime, and start availing the service immediately after downloading the App. To facilitate this, options for generating new PIN and resetting new PIN are enabled through the mobile App itself. Thus it dispenses with the need to visit the branch to register for availing the service.

Apart from transfer of funds to accounts within the Bank, Fedmobile facilitates funds transfer to other bank accounts as well which can be done through NEFT and IMPS modes. Using FedMobile, one can also avail value-added services like top up/ recharge of mobile phones, payment of utility bills, payment of school fees etc. FedMobile is integrated with Bank’s e-passbook App, Fedbook thus facilitating access of FedBook through FedMobile.

As a launch offer, the Bank has announced a Cash Back of Rs. 50 for customers who initiate a transaction worth Rs. 100 or above as their first transaction using the new version of FedMobile. The Cash Back amount will be credited to the customer’s account within 24 hours of the transaction. This offer is valid up to 31^st July 2015.

The new version is currently available in smart phones with Android Version 4 upwards, and will soon be made available in iOS, Windows and Blackberry based phones.

On the occasion of the launch of the new version of FedMobile, Mr K A Babu, Head – Retail Business said “Federal Bank has made its mark in the digital space with game changing innovations like Fedbook, Scan N Pay etc. The Bank has ambitious plans and programmes for giving a unique digital experience to the customers. We have already introduced the state-of-the-art payment solution, Scan N Pay, which is equally good for person to person payment and person to merchant payment.  The Bank is in the process of on boarding large aggregators to this QR based payment solution. The new FedMobile is our second initiative on digital this month. Being a Bank that is always customer centric, Federal Bank has plans to come up with more such digital offers in the near future. With these joyful and convenient digital banking solutions, the bank aims to make banking simple and convenient for our clients. We expect at least one million customers to avail FedMobile before the close of this fiscal”.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,247 branches and 1,497 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.