Federal Bank announced an expanded strategic collaboration with Oracle and Infosys, a global leader in next-generation digital services and consulting, to provide an enhanced customer experience through Oracle CX (Customer Experience) platform. The collaboration will focus on creating a comprehensive integrated Customer Relationship Management (CRM) solution across marketing, sales, customer service, and social listening to strengthen Federal Bank’s operations, and to deliver connected, data driven, and intelligent customer experiences across all touch points.
Federal Bank will launch a 360degree view of the customer portfolio in a single application for its users, to achieve a ‘Single Source of Truth’. These services will help improve productivity and customer satisfaction by using the financial, biographical, and demographical information of customers. Oracle will co-innovate by partnering with the broader ecosystem of Infosys.
“Our mantra is “Digital at the fore, human at the core” and the implementation of the next generation CRM solution, in partnership with Oracle and Infosys is a significant step we are taking in that direction,” said Shalini Warrier, Executive Director & Business Head – Retail, Federal Bank. “Our expanded partnership with Oracle and Infosys will allow us to offer a more strategic, integrated platform with industry aligned solutions that will result in richer experiences for our customers”.
“As enterprises turn to cloud and data driven insights to make their value chains more agile and resilient, Oracle is constantly innovating with new digital tools to empower customers to derive maximum RoI from their data. With Federal Bank opting for Oracle Cloud Customer experience solutions, our endeavor is to help the bank discover the endless potential of using AI and data to understand their customer consumption patterns and deliver relevant, uniform customer experiences across platforms,” said Rakesh Jaitly, Senior Sales Director Oracle CX.
“We are delighted to partner with Federal Bank on their digital transformation journey,” said Dinesh Rao, Executive Vice President, and Global Head – Enterprise Application Services, Infosys. “By combining the power of Oracle CX platform and Infosys Cobalt, set of cloud offerings, we look forward to enabling the bank deploy new products swiftly while creating an improved digital experience for customers.”
About Federal Bank:
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,289 banking outlets and 1,957 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.05 Lakh Crore as on March 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.35% as on 31st March 2020. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.
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