Federal Bank unveils online ATM services
Our Banking Bureau
20 August 2002

Kochi: The Kerala-based Federal Bank has launched its networked online ATM services here. With the launch, the bank’s branches can issue ATM cards that can be used by the customers to derive benefit from the ATM facilities across India, says Federal Bank chairman K P Padmakumar.

The bank currently has 413 branches and its in-house total branch automation package FedSoft has been implemented in all the branches. In order to provide convenience to its growing customer base, the bank has installed 56 ATMs across India. “We propose to install an additional 100 ATMs by the end of this financial year. We are also planning to offer debit infrastructure across 150 ATMs and 200 branches during this first phase,” he says.

The bank has chosen the Tandem/BASE24 Transaction Switch solution from ACI Worldwide through their channel partner in India, Financial Software and Systems, a Chennai-based company, and has implemented the same at its latest Switch centre located at the bank’s head office in Aluva.

“With the implementation of the Tandem/Base24 ATM switch solution, the bank has laid the foundation for its future retail delivery channel plans. We have aggressive plans for offering world-class products across various retail delivery channels to our customers,” says Padmakumar.

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