19th January 2018: Federal Bank has launched a Chatbot based virtual assistant in FedMobile, bank’s mobile banking application. Using the Chatbot feature, the users of the app can avail a host of m-commerce services by simply chatting on the application.
The Chatbot feature offers Mobile Recharges, Hotel Room/ Bus Ticket reservation, Household bill payments (Electricity, Water, DTH, DataCard, Landline, Broadband, Gas), Movie booking, Events booking & Cab booking. A user who wants to do a mobile recharge will simply have to type on the app “recharge my mobile number for Rs.100”. The intelligent chatbot will pick up automatically the mobile number, identify the mobile operator & display the details for the user’s confirmation. Once confirmed, the mobile number is instantly recharged. The service is smart to pick up mobile number from contacts list on the device, so that one can recharge any mobile number in just a few seconds. Booking a cab, movie ticket, bus ticket, paying bills is also simple & quick. Services through Chat on the app is made seamless & interactive, which makes the process quite simple, making m-commerce transactions as easy as chatting with your friend.
As a launch offer, the Bank is preparing to roll-out extensive offers on the Chatbot services for its customers using their mobile banking application, FedMobile. This will encourage the users to discover the simplicity & smartness of the feature. Chatbots are becoming a chosen mode by companies across the globe for delivery of services, for its interactive abilities & increased customer satisfaction. Federal Bank is already witnessing a higher acceptance of the Chatbot feature by its mobile banking users. The service is currently made available for Android devices & will soon be released for Apple devices as well. Along with the existing widespread services offered on the app, such as Deposit Opening, Loans, Mutual Funds, Insurance and more, Chatbot is an appreciated feature.
About Federal Bank:
Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,680 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.72 Lakh Crore as at June 30, 2017 and it has earned a net profit of Rs 210.15 Crore for Q1 FY18. Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.28% at the end of June 30, 2017. Federal Bank has its Representative Office at Dubai and Abu Dhabi that serves as a nerve centre for NRI 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. During FY 17 the bank handled around 15 % of the total personal inward remittance to India.