Federal Bank partners with Nucleus Software to launch advanced transaction platform

Private sector bank Federal Bank has partnered with Nucleus Software to launch an advanced transaction platform called FedOne. This platform will help Federal Bank capitalising on emerging business opportunities while enabling it to provide swift, reliable, and innovative financial solutions to its clients.

FedOne is built on Nucleus Software’s FinnAxia solution, which helps banks transform their corporate customers' treasury functions into dynamic and profitable businesses.

With this implementation, Federal Bank will be adopting new operational methodologies to enhance efficiency, ensuring faster turnaround times. Customers will now be able to address their working capital management needs with comprehensive end-to-end support. Lastly, this implementation will enhance the bank’s overall customer experience and foster sustainable growth.

“At Federal Bank, we recognise that the future of banking is digital and customer-centric. The successful implementation of FedOn developed in collaboration with Nucleus Software’s FinnAxia®, not only strengthens our corporate banking capabilities but also reinforces our commitment to delivering hyper-personalised solutions that meet the evolving needs of our clients. This strategic move empowers us to enhance operational efficiency while positioning the Bank as a frontrunner in the competitive landscape,” said Shalini Warrier, Executive Director, Federal Bank.

To be sure, last month, Bank Muscat said that it had tapped Noida-based fintech solutions provider’s FinnOne Neo offering to streamline its collections operations.  This strategic implementation is in line with the bank’s mission to provide simplified and integrated banking solutions across its expansive network. FinnOne Neo Collections enhances the bank’s delinquency management capabilities, reducing overdue loans.