Federal Bank’s Subsidiary, FedServ - launches operations in Visakhapatnam

Vishakhapatnam, August 29, 2019: Federal Operations and Services Ltd (FedServ), a wholly owned subsidiary company of Federal Bank, formally started its operations at Visakhapatnam today by inaugurating the office here. This 18000 plus square feet office with a capacity of housing 385 employees is located in Fintech Valley in Rushikonda. The first office of FedServ was opened in Infopark, Kochi in December 2018. Visakhapatnam is a strategic choice for the second location for the Company, given the business friendly atmosphere, availability of fit for purpose space and pipeline of talent in the city. FedServ integrates and handles all operational activities of the parent company Federal Bank. The company will provide services including call centre operations, IT support, software development, testing and implementation, vendor management and monitoring, data entry and data analysis, channel registration and payment facilities, loan recovery support, clearing, settlement and cash management services etc. This move towards having a distinct and exclusive outfit for backend activities is in line with the practice of progressive financial institutions aimed at ensuring higher level of customer delight while reducing costs and mitigating risks. In a function held at Fintech Valley, K V Krishna Kumar, Director, K Ramabrahmam & Sons Private Limited and Dr. A Sugandhi, Medical Director, A S Raja Voluntary Blood Bank jointly inaugurated the new facility. C Balagopal, Chairman, FedServ and Director, Federal Bank, Shalini Warrier, Non-Executive Director, FedServ and Chief Operating Officer and Business Head - Retail, Federal Bank, Johnson K Jose, President, FedServ, other executives and employees of FedServ and Federal Bank attended the event.