Financial Daily from THE HINDU group of publications
Tuesday, Aug 20, 2002
Financial Daily from THE HINDU group of publications Tuesday, Aug 20, 2002 |
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Money & Banking
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Private Banks Federal Bank's online ATM services Our Bureau
KOCHI, Aug. 19 THE Kerala-based Federal Bank has launched its networked online ATM services here. With the launch of the online ATM services, branches of the bank can issue ATM cards that can be used by the customers to derive benefit from the ATM facilities across the country, Mr K.P. Padmakumar, Chairman of the bank, said. The bank, currently, has 413 branches and its in-house, Total Branch Automation (TBA) package `FedSoft' has been implemented at all the branches, he said. In order to provide convenience to its growing customer base, the bank has installed 56 ATMs across the country. It proposes to install an additional 100 ATMs by the end of this financial year. The bank is also planning to offer debit infrastructure across 150 ATMs and 200 branches during this first phase, he said. The bank has chosen the Tandem/BASE24 Transaction Switch solution from ACI Worldwide through their channel partner in India, Financial Software and Systems (FSS), a Chennai-based company, and has implemented the same at its latest Switch centre located at the bank's head office at 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," he said.
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