Finnoviti Award wins for BYOM Flexi EMI Product
Federal Bank's Online Loan platform BYOM (Be Your Own Master) has won the "Finnoviti Award for 2018" for Flexi EMI product. The award was conferred during the 6th edition of International Exhibition and Conference on Banking Technology, Equipment & Services held on 03rd February at Mumbai.
Mr. Imran Syed, Digital Centre of Excellence and Mrs. Hema R, IT is seen in the picture receiving award. The event is jointly organized by Banking Frontiers and Deloitte.
Power of BYOM Flexi EMI
- Facility to convert debit card transactions as EMIs.
- End to end digital product.
- No manual documentation.
- Instant credit of loan funds to account.
- 24X7 availability.
- Accessible from anywhere in the world
Every month more than 75000 Flexi EMI offers will be communicated to customers. The offer communication will come in T+1 day of the debit card transaction through POS & E-Com. Customers can convert the purchase as EMIs within 30 days from the date of the transaction. Flexible tenure options of 3, 6, 9 & 12 Months are available. All the above process happens automatically, without any manual intervention.