Federal Bank introduces FedOne, a digital platform for corporate banking.
Banking & Finance
On January 2, 2025, Federal Bank, one of India's prominent private sector banks, launched FedOne, a cutting-edge transaction banking platform. This initiative aims to meet the evolving needs of corporate and small to medium enterprise (SME) customers.
- FedOne is the outcome of a 10-month collaboration with Nucleus Software Exports Limited, utilizing its FinnAxia solution to drive Federal Bank's digital transformation and enhance the quality of services for corporate clients.
- Federal Bank has adopted FinnAxiaⓇ as the technological backbone to develop FedOne™, offering more efficient and streamlined services to its corporate customers.
Main Point :- (i) Nucleus Software Exports Limited, the partner of Federal Bank for the FedOne platform, brings a wealth of experience in the financial technology sector.
(ii) The company currently supports over 200 financial institutions across 50 countries, managing USD 500 billion in loans in India and over USD 700 billion globally (excluding India). It processes more than 26 million daily transactions through its transaction banking platform.
(iii) As of September 30, 2024, Federal Bank, with a network of 1,546 banking outlets and 2,052 Automated Teller Machines (ATMs)/Recyclers across India, reported a total business mix of ₹4.99 lakh crore.
About Federal Bank
MD & CEO : Shri Krishnan Venkat Subramanian or Shri KVS Manian
Headquarters : Kochi
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