Federal Bank, one of the most progressive and innovative banks in India, is a pioneer in digital banking. The bank has launched numerous digital initiatives in recent years, including FedBook, India's first mobile account opening app, and innovative online portals FedNet and FedMobile. The bank has seen good progress in the digital space and is nearly doubling its digital transactions every quarter. The bank intends to continue its momentum and offer more services thanks to its digital strategy. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get an original essay As part of their digital journey for further transformation, the Federal Bank recently selected Intellect Design Arena Ltd to implement its digital banking transaction (DTB) platform. of iGTB – powered by an integrated omni-channel Corporate Banking eXchange (CBX) portal with back-end processors for collections and receivables, payables, account services and supply chain finance and also augmenting the portal front-end of their existing commercial financing. The bank seeks to significantly expand its transaction banking business and take leadership in realizing the Government of India's 'Digital India' vision through the implementation of DTB. The Federal Bank has been a pioneer in groundbreaking digital innovations. Some of the offers are: UPI App With Lotza, just use a simple and easy to remember nickname to make money transfers. Using Lotza, a customer can consolidate all accounts in their name across different banks and transact seamlessly. Lotza is the one-stop payment window through which customers can check their balance, send and collect funds, sign up for mobile banking and make QR code-based payments. Lotza MPos is a mobile application that runs on the UPI platform. Customers can simply scan the QR code and pay. The Lotza UPos machine is a point-of-sale device that allows merchants to collect their payments at their points of sale. This portable machine is an alternative to normal POS machines, in which the merchant enters the bill amount and a QR code for the corresponding amount is generated instantly. The customer scans the generated QR code with any UPI app and completes the payment. The payment is instantly credited to the merchant's account. In a store, the cashier enters the transaction amount into the merchant’s “Scan n Pay” app and generates a dynamic QR code. The customer simply scans the QR code using the “Scan n Pay” app installed on their mobile phone, enters their MPIN and completes the payment. Fed-E-Credit, is a purebred, hands-free digital loan. . Fed-E-Credit is an online loan against deposit and is the first in the series of online lending products offered by the bank under its digital initiative “BYOM” (Be Your Own Master - the Do-It series -Yourself).Keep in mind: This is just a sample.Get a personalized article now from our expert writers.Get a custom essayFedBook Selfie has revolutionized the way customers now open their bank accounts savings. The bank pioneered mobile banking account opening as an upgrade to FedBook, the e-passbook, in 2015, making it India's first mobile account opening app. Thanks to this additional functionality, anyone with a card..