Federal Bank, one of India’s most progressive and innovative banks, has selected iGTB to implement its Digital Transaction Banking (DTB) platform – powered by an integrated front-end omni-channel Corporate Banking eXchange (CBX) portal with backend processors for Collections & Receivables, Payables, Account Services and Supply Chain Finance. DTB will also augment the front end of their existing Trade Finance portal.
Through the implementation of DTB, Federal bank is looking to significantly grow its transaction banking business and take leadership in driving the Indian Government’s “Digital India” vision.
DTB will help deliver a cutting-edge experience to the bank’s clients – providing highly relevant products that are accessed through a single, intuitive omni-channel front-end portal. For the bank, centralised functions with optimized infrastructure will lead to reduced costs and increased automation, STP and efficiency. It will also improve customer convenience, hasten the time to market innovative products, and accelerate client onboarding.
K Srinivasan, President & Head, Growth Markets, iGTB says: “We are delighted to be the chosen partner for Federal Bank, who is at the forefront of technology-driven banking transformation in India. This deal is a real vindication of our expertise, track-record and strength in the market. The DTB solution is our flagship product for digital transformation, specifically designed to help a transaction banking franchise grow, and we’re confident that it will take Federal Bank to new heights in the future, strategically positioning them for lasting success.”
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