Federal Bank
Also a provider — view Federal Bank’s profile →“Can a mid-size Indian private bank become the default sponsor/BaaS rail underneath India's fintech ecosystem?”
Founded1931
HQAluva, Kochi, Kerala, India
FoundersK. P. Hormis
IndustryBank / National
The story
Federal Bank is a 90+ year-old Indian private sector bank that has repositioned itself as the go-to sponsor bank for Indian fintechs. Alongside traditional retail and wholesale banking, it has aggressively built an API Banking platform and co-brand/BaaS-style partnerships (Fi, Scapia, OneCard, Jupiter, etc.), making it — by its own claim — the bank that handles more than 1/6th of India's total foreign inward remittances via APIs. The strategic bet is that being the regulated rail underneath Indian fintechs is more scalable than winning retail customers branch-by-branch.
Last 12 months
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Product timeline
1931
Incorporated as Travancore Federal Bank at Nedumpuram, Thiruvalla· founding
1949
Renamed The Federal Bank Limited· pivot
2021
Launched neobank partnership with Fi to issue instant savings accounts to salaried millennials· banking
2021
Partnered with OneCard to issue mobile-first credit card powered by Visa· card
2024
Scapia Federal Credit Card co-brand launched· card
Regulated entities
1
regulatory licence held by Federal Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Federal Bank’s embedded-finance stack
Payments / PSP
Federal Bank Payment Gateway (in-house)Stripe
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting gap: none
30 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.