Saturday, February 9, 2013

Federal Bank bags ACI Excellence award twice in a row

Kochi: Federal Bank has won the prestigious ACI Excellence Award 2013 for Product Innovation. The award winning product is Apna Gold 24x7 (earlier known as Federal Easy Gold). The bank emerged the winner in Public Voting. This is the second award in a row for the bank. Last year Bank had won the ACI Award in “Excellence for Payment Transformation” category. This time the award is in recognition of the bank’s Creativity in Solving Market Problems. ACI Worldwide is a US-based company offering various payment system solutions across the globe.
Apna Gold 24x7 has become a new benchmark in the industry as far as loan against pledge of Gold is concerned. The project was taken up as part of Federal Bank’s abiding commitment to enhance customer comfort and delight through innovation and technology absorption. With this path-breaking product, Federal Bank has integrated the advantages of convenience and flexibility to customers and strengthened its position as a bank of choice.
Taking gold ornaments as the security, Apna Gold 24x7 provides customers the convenience of withdrawal / use of loan amount through any ATM. It provides customers the flexibility of cash withdrawal or 24x7 shopping through multiple channels even after normal banking hours and on holidays. The security of the gold ornaments is assured under bank’s common insurance policy for which premium is paid by the bank. The money can be used in parts as per the needs of the customer and interest need be paid only for the used amount for the actual days of use. Customer is given the convenience of taking back and using the ornaments.
Customers have the convenience of availing Apna Gold 24x7 from any of its 1032 branches and making cash withdrawals from any ATM of any bank.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1032 branches and 1,154 ATMs spread across the country. The Bank’s total business has risen to Rs. 91,101.34 crore and its Net Worth to Rs. 6,323 crore by 31/12/2012. It recorded net profit of Rs. 776.79 crore during the last financial year. Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.

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