Federal Bank achieves 100 per cent connectivity

By Our Banking Bureau | 08 Jan 2004

1

Kochi: Federal Bank has attained 100 per cent interconnectivity among all its branches.

The Aluva-based bank is expected to be the first to attain this milestone among all the traditional banks in the country.

Addressing a press conference at Kochi, Mr K.P. Padmakumar, Chairman of the bank said, "this is a defining moment for the bank. It has been a major challenge for us to interconnect our large number of remote rural branches through high bandwidth leased lines. We are now uniquely positioned to liberate our customers from the barriers of geography and time in banking services."

All the 431 branches of the bank have been interconnected and can offer anywhere, anytime and anyway banking services. Almost 70,000 customers access the bank''s Internet facilities. Almost 35 per cent of the transactions are carried out through the wide network of ATMs in the country.

 

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