Feddy takes Centre Stage with SKOCH Award 

In a remarkable achievement, Federal Bank's innovative AI-powered Virtual Assistant, Feddy, has been awarded the esteemed SKOCH Silver Award for its groundbreaking "Conversational Banking" feature. This prestigious recognition was conferred at the 100th SKOCH Summit held in New Delhi on November 30, 2024.

Feddy, which is backed by cutting-edge machine learning algorithms, has been designed to provide customers with 24x7 assistance for all their banking-related queries. Whether it's information on opening or updating KYC, finding nearby ATMs or branches, or details on various debit cards and account schemes, Feddy is equipped to answer all general queries related to Federal Bank's products and services. What sets Feddy apart is its ability to provide an array of banking services in conversational mode, making it easy for customers to access these services through a simple chat. Moreover, Feddy supports 14 different Indian languages, ensuring that customers from diverse linguistic backgrounds can benefit from its services.

The SKOCH Award is a testament to Feddy's innovative approach to digital and convenience banking, setting new standards for customer-centric service. The award recognizes exceptional achievements in digital, financial, and social inclusion, governance, and other areas that contribute to societal development. Feddy's victory was the result of a rigorous multi-staged process, where it successfully competed with other leading innovations in the BFSI sector across the country. The award was received by Manish Mohan and Shubh Rathi from Digital Centre of Excellence on behalf of Federal Bank.

This achievement is a milestone in Feddy's journey to make banking simpler, smarter, and more accessible. With its conversational banking feature, Feddy has truly emerged as a game-changer in the industry, and this award is a recognition of its efforts to revolutionize the way customers interact with their bank. As Federal Bank continues to push the boundaries of innovation, Feddy remains at the forefront of its digital transformation efforts, providing customers with a seamless and intuitive banking experience. With the SKOCH Silver Award, Feddy has cemented its position as a leader in conversational banking, and we can expect even more exciting developments from this AI-powered Virtual Assistant in the future.