Kochi: Federal Bank has won the prestigious Institute for Development and Research in Banking Technology (IDRBT) Banking Technology Excellence Award 2014-15 for Digital Banking, Analytics and Big Data in the mid-sized banks segment.
The award was presented to the Bank at a function held at the Institute for Development and Research in Banking Technology in Hyderabad. Ganesh Sankaran, Executive Director of Federal Bank, received the award from Dr. Raghuram G. Rajan, Governor of Reserve Bank of India.
Instituted in 2001, the IDRBT Banking Technology Excellence Awards are meant to recognize and honour the best innovative use of information technology to enhance the levels of customer delight.
The IDRBT Award is recognition for the series of digital initiatives undertaken by the Bank this year that include FedBook Selfie, the first-of-its-kind mobile App for account opening and Scan N Pay, the innovative mobile based Payment app which has the capability to scan the QR code, facilitating payments at merchant outlets & ecommerce websites as well as person-to-person fund transfer.
Federal Bank is winning the IDRBT award for the fifth consecutive year. In 2013-14, the Bank was recognized as Best Bank for Use of Technology for Financial Inclusion, Best Bank for Social Media and Mobile Banking, Best Bank for Business Intelligence Initiatives and Best Bank for Best IT Team.
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