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Federal
Bank achieves 100 per cent connectivity
Our
Banking Bureau
8 January 2004
 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.
List
of reports on Federal Bank
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