Federal Bank, in partnership with NPCI Bharat BillPay Limited (NBBL) and Digiledge, has gone live with the Forex Category on Bharat Connect across its digital channels, including FedMobile and FedNet.
The platform introduces an interoperable, standardised and seamless process for retail foreign exchange transactions.
With the introduction of the Forex Category on Bharat Connect, retail customers can manage outward remittances through a fully digital onboarding experience, resulting in a more transparent and accessible forex journey across channels. By integrating the Forex Category, Federal Bank extends access beyond traditional banking touchpoints, enhancing reach, accessibility and convenience for customers seeking efficient and transparent forex services.
The implementation, supported by Digiledge’s modular and API-first infrastructure, leverages Bharat Connect’s interoperability to simplify access to forex facilities. The rollout addresses challenges such as lengthy onboarding, manual paperwork and opaque pricing, replacing them with a digital-first and frictionless experience. Customers will be able to access forex services through Bharat Connect’s digital and agent network, ensuring availability across diverse touchpoints.
Lakshmanan V, Group President and Head – Treasury, Federal Bank, said the integration marks an important move towards simplifying global transactions. He stated that the initiative offers instant onboarding, transparent pricing and mobile-first convenience for outward remittances, strengthening the bank’s digital footprint and reducing branch dependency by enabling customers to book forex deals and complete documentation online.
Indraneel Ajitkumar Pandit, Chief Digital Officer, Federal Bank, said the bank has consistently led digital innovation for its customers. He noted that the integration makes international transactions seamless and simplifies activities such as travelling abroad and sending money for foreign studies, combining convenience with security.
Mahesh Govind, Co-founder and CEO, Digiledge, said the collaboration represents one of the earliest implementations of the Forex Category on Bharat Connect. He stated that the initiative demonstrates how interoperable infrastructure can transform complex financial services into accessible, compliant and customer-friendly experiences, with Digiledge’s full-stack solutions enabling institutions to scale securely.
The coordinated efforts between NBBL, Federal Bank and Digiledge, involving network enablement, infrastructure setup and testing, reflect the collaborative approach driving India’s next phase of digital payments innovation.
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