The growing bank is capitalizing on India’s surging middle class and dynamic business sector by using Oracle Autonomous Database and Oracle Analytics to help deliver targeted financial services.
As India pushes toward a $5 trillion economy, many more of the country’s 1 billion citizens will need access to financial services. Federal Bank is meeting this need by leading a more flexible, customer-centric approach to banking.
The cornerstone of Federal Bank’s approach is building relationships with individuals. They do that by being where people are—via branches and online—and offering just the financial products they need. That could be anything from a simple personal account to a sophisticated financial package for a business—sealed with a handshake at one of Federal Bank’s 1,276 branches, or on a fast, feature-rich phone app.
At Federal Bank, we believe in innovation across the board, where innovative thinking can trigger a solution at every level of the organization.Shalini Warrier, Executive Director, Federal Bank
In India’s ultracompetitive banking industry, Federal Bank stands out with a mix of branch-based banking options and feature-rich mobile applications that appeal to on-the-go customers.
Its success also comes from understanding the Indian banking customer’s unique needs—from offering gold-backed loans to individuals, to low-cost packages for small and medium business, to complex financial packages for enterprise customers.
Knowing just what to offer takes insight. With Oracle Autonomous Database and Oracle Analytics Cloud together on Oracle Cloud Infrastructure, Federal Bank of India now has a self-driving database with increased performance and stability, plus the security demanded of financial systems. The cloud-based data and analytics system also keeps the bank flexible and open to opportunities in the dynamic Indian financial world. It also gives management the tools and compute power to go deeper with their customer analysis.
Machine learning in Oracle Autonomous Data Warehouse was able to halve the time required to run certain queries on customer data—empowering management with actionable intelligence for faster decision-making.