Federal Bank, the sixth-largest private sector bank in India, has teamed up with Nucleus Software to launch FedOne, a cutting-edge digital transaction banking platform designed to optimize treasury operations for corporate clients. Powered by Nucleus Software’s FinnAxia solution, the new platform aims to modernize Federal Bank’s corporate banking services and enhance operational efficiency.
FinnAxia enables financial institutions to manage a range of transaction banking operations, including collections, payments, trade finance, liquidity management, and financial supply chain management, all through a single, integrated platform. This partnership marks a significant step in transforming Federal Bank’s digital banking offerings, following an intensive 10-month collaboration between the two organizations.
FedOne brings several advanced features, including real-time reporting, bulk CBDT payment capabilities, and more, empowering corporate clients to streamline their financial operations. Nucleus Software’s transaction banking platform supports over 200 financial institutions across 50 countries and processes more than 26 million transactions daily. The company also manages over $500 billion in loans in India and more than $700 billion globally through its lending platform.
Federal Bank, headquartered in Ernakulam, Kerala, operates a vast network of 1,546 branches and 2,052 ATMs across India. As of September 30, 2024, the bank manages deposits and advances totaling over ₹4.99 lakh crore (approximately $60 billion).
This collaboration underscores Federal Bank’s commitment to embracing financial innovation and digital transformation to deliver enhanced banking services to its corporate clients, solidifying its position as a leading player in India’s banking sector.
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