Kerala based private sector Federal Bank has bagged two awards for the 'Best use of IT in Retail Banking' and 'Best Payments Initiative'.
The awards, instituted by the Indian Banks Association and Trade Fairs and Conferences International, for acknowledging outstanding achievements in technology infusion by banks in India.
KS Harshan, Executive Director of the bank, received the award from Vepa Kamesam, Former Deputy Governor of RBI and H N Sinor, Chief Executive of IBA, at a function in Mumbai on February 8.
The bank's various IT initiatives like its centralised loan management system, Mobile Payment Gateway and Online Payments systems has won the award for the bank for a second consecutive year.
Federal Bank's innovative Fed e-Pay electronic payments system had won the Best Payments Initiative award.