Federal Bank Launches VConnect to Help Customers Connect to Relationship Managers

Federal Bank, a leading south-based private sector bank, launched VConnect - an exclusive video conference facility that enables customers to interact with Bank’s Relationship Managers face-to-face from any part of the world. An easy-to-use interface accessible through Bank’s website (www.federalbank.co.in), VConnect opens up one more convenient touch point for Federal Bank’s customers, especially the NRI clientele, to directly reach out to Bank executives for availing specialized services on Loans, Savings, Investments & Insurance products, and also Wealth Management and Advisory services. Although VConnect will initially be available during office hours on all working days (10.00 AM to 05.30 PM IST on week days and 10.00 AM to 02.00 PM IST on Saturdays), plans are afoot to extend the service 24 X 7.

Mr. K. A. Babu, Head of Retail Business, Federal Bank, said, "Federal Bank has demonstrated its tech-enabled customer-friendly initiatives time and again with first-of-their initiatives such as FedBook electronic passbook. More than anything else, we strive to make the lives of our customers from across the world easy and convenient.  VConnect is our latest convergence linked initiative to give them the best positive digital experience.  We are sure, with VConnect, our patrons, particularly the NRIs, will find their banking partner close to them more than ever before."

Federal Bank is the first tech-savvy commercial bank to introduce FedBook facility, an electronic passbook facility for its customers. FedBook is a mobile app through which customers can view their passbook details. FedBook won the Innovation Award - 2013 from Indian Banks' Association (IBA) being identified as the most innovative customer service tool of the year. This new version of FedBook also enables the customers to keep track of their cheques, from the moment they are presented in the clearing houses, i.e., before they are actually accounted. It will indeed be a boon to customers in managing their funds. Federal bank is also a member of CCAvenue along with 44 leading Indian banks that allows you to extend and integrate your websites to the secure payment gateway facility and to accept net banking initiated payments from your customers.

Federal bank has a dominant presence with representative offices in UAE, Qatar, Bahrain, Kuwait and Oman. It has correspondent banking arrangements (Nostro accounts)with 18 international banks in different parts of the globe to deal in 11 major currencies of the world.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1222 branches and 1,476 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 of March 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.