Key Highlights for FY 2023-24
Innovative
Solutions

FlashPay

We launched FlashPay, a compact and stylish solution for seamless transactions on the go. It is a first-of-its-kind smart RuPay key chain that allows the customer to make secure payments. This eliminates need for physical cash or cards.

WhatsApp Hub

Our digital end-to-end lending journey acquired a new dimension through our WhatsApp Lending Platform that seamlessly offers services at your fingertips.

Pre-approved Personal Loans

Customers can avail pre-approved personal loans through WhatsApp without any platform charge

Pre-approved Credit Cards

Customers can avail pre-approved credit cards through WhatsApp

Social Security Schemes

Eligible customers can enroll in PMSBY and PMJJBY schemes through WhatsApp

New Derivative Product
'Non-Deliverable Options' Launched

This product was launched as a part of the Bank’s endeavour to widen its product suite and be the one stop place for all the hedging products required by the clients. This product gives opportunities to serve the onshore as well as offshore clients who wish to hedge their currency risks. The product also gives the Bank opportunity to benefit from the pricing disparities between the onshore and offshore markets for options.

New Derivative Product
'Bond FRA' Launched

The Bank also started offering Forward Rate Agreement on Bonds or Bond FRA to its institutional clients for hedging their interest rate risks. The product is of significant use for Insurance companies in hedging the interest rate risk associated with their product offering.

BBPS Bill Payment System

Federal Bank Credit Card is a biller on the Bharat Bill Payment System (BBPS) platform, simplifying bill payments. Customers are no longer required to visit individual websites of different billers to pay bills.

Mutual Funds Through Debit Card in Association With Visa

Launched in association with RazorPay, Federal Bank customers can now use Visa debit cards to invest in mutual funds.

Blockchain-based Cross-border Transaction

We are the first India-based Bank to execute a blockchain-based cross-border trade transaction. This was done using a blockchain-based electronic Bill of Lading solution. This aims to streamline trade finance processes, offering customers a seamless and efficient service that ultimately s Blockchain-based aves time and cost.