Case Study: Federal Bank Ltd. achieves secure, scalable two-factor e-banking and fraud protection with EdgeVerve

Federal Bank - Customer Case Study

Federal Bank Ltd., a fast-growing private sector bank in India with 1,010 branches and 6.5 million customers, needed to protect its e‑banking channels from identity and transaction fraud while preserving customer experience and supporting multiple authenticator form‑factors. EdgeVerve was engaged as the vendor/systems integrator to deliver a best‑of‑breed two‑factor authentication capability integrated with the bank’s Finacle e‑banking, ATM, IVR and SMS systems.

EdgeVerve deployed a PKI‑based Arcot (Web Fort) two‑factor authentication solution with custom integration components for Finacle and the DUCONT SMS gateway, implemented in three phases (soft tokens, hard tokens/SMS OTP, ArcotOTP). The solution went live on 21 Dec 2011 and enabled secure login and transaction authentication for 50,000+ users post‑launch, mitigated phishing/Man‑in‑the‑Browser/keylogging and other identity risks, preserved user experience with flexible authenticators, and provided a scalable, standards‑compliant platform for future channel growth.

Federal Bank Ltd.

Sunny K P

CIO