Creating history, Federal Bank launched India’s first Mobile App for Bank Account Opening today in Mumbai. The App was jointly launched by CA. Nilesh Shivji Vikamsey, Chairman, Federal Bank, and Mr. R Venkataraman, Managing Director, IIFL, at a function held at the IIFL Centre in Lower Parel, Mumbai. This is the first in a series of launches planned for the App at prominent business houses across major cities.
Federal Bank, which has consistently pioneered product innovations, has introduced this unique facility of Mobile based Bank Account Opening as an upgrade to FedBook,
its e-Passbook App, which in itself was a trendsetter at the time of its launch two years ago.
With the new avatar of FedBook, anyone having an Aadhaar Card and PAN Card, be it from rural or urban centres, rich or poor, youth or aged, can now open a Savings Bank Account and get their Account Number instantly using a mobile from anywhere at any time. Further, the account can also be funded with an initial remittance through online fund transfer up to a maximum amount of Rs. 10000.
With its intuitive features, FedBook makes Account opening convenient, simple and joyful. To open an account, one has to just download FedBook in their Mobile and follow 3 easy steps- that of taking a selfie, scanning Aadhaar and PAN Card. The App verifies the Aadhaar real time and opens the account on the click of a button. Once the account is opened, the App turns itself into the digital passbook for the customer. The App is currently available on Android and iOS phones and will soon be available in windows and blackberry phones.
On the occasion, Mr. K A Babu, Head Retail Business, said, “In a country with a fast growing smart phone population, Mobile solutions are going to revolutionize the way India banks. Through this pioneering solution we are aligning ourselves with the nation’s digital ambitions, and by facilitating the opening of a Bank account with ease using a smart phone, the Bank has added a new dimension to digital banking. We are sure that the upgraded Fedbook will take us towards the larger digital audience and change the way Indians open a Bank account”.