Federal Bank was adjudged winner of the award for best use of Blockchain technology at “Drivers of Digital Summit and Awards 2018”, a prestigious award recognizing digital innovation in various industries and sectors. The Bank emerged as winner from 800+ technology projects from around the world.
Federal Bank’s Bockchain cross border remittance solution had earlier bagged awards under the category “Emerging Blockchain Technology Solution of the Year” at BFSI Innovative Technology Awards 2018 and “KMA NASSCOM IT Best Innovator” at KMA NASSCOM IT Awards 2018. Federal Bank has employed innovative technologies for Instant account opening and block chain and API Banking, allowing not just customers to experience smart solutions but also developing the fintech ecosystem in India by giving access to APIs to fintech startups.
Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,684 ATMs
spread across the country. The Bank’s total business mix (deposits + advances) stood at Rs 2.03 Lakh
Crore as at March 31, 2018 and it has earned a net profit of ₹ 878.85 Crore for FY18. The Capital
Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.70%. Federal Bank
has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for NRI customers in
the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT
City).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.
