Chennai- October 05, 2021: Federal Bank has tied up with CredAvenue for Portfolio management of their Securitization Book and implemented CredPool – an institutional debt platform of CredAvenue. This arrangement will help Federal Bank to digitally monitor their ABS & MBS pool assets more efficiently through their technology platform. The partnership entails CredAvenue providing post-transaction fulfilment services and portfolio management for their Direct Assignment portfolio. CredAvenue’s pooled transaction fulfilment platform has been supporting a host of leading Banks, Federal Bank being the latest addition. The platform is helping Banks and NBFC’s meet the prevailing and new regulatory guidelines pertaining to securitization and direct assignment.
“The Bank, in partnership with CredAvenue, has effectively automated the end-to-end processes for Direct Assignments of Retail portfolio. This automation has enhanced the controls over the portfolio while giving us the ability to further scale up our plans for in-organic selective portfolio acquisitions. In CredAvenue, we have found a strong partner and look forward to expanding our relationship with them over the coming years” said Shalini Warrier, ED & Head Retail Business, Federal Bank.
“We provide a comprehensive debt ecosystem for originators (NBFC’s) and provide a complete fulfilment solution for all the lenders that are associated with us. Our technology has the capability to provide customized solutions based on each bank/lender’s requirements for their portfolio management. Our team ensures a quick and seamless integration with an easy-to-use interface for our partners,” said Gaurav Kumar, CEO, CredAvenue.
About Federal Bank Limited
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,289 banking outlets and 1,957 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.05 Lakh Crore as on March 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.62% as on 31st March 2021. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve center for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.
CredAvenue is a global pioneer aiming to revolutionize and deepen debt markets. They are the only end-to-end debt solution platform in the world to provide such a comprehensive infrastructure for all debt instruments at a time when most players provide products and services in parts. CredAvenue aims to successfully capture 60-70% of the debt market. The platform enables wider participation in the debt markets thereby correcting the skewed structure wherein top-rated (AA and above) have access to more than 80% of the debt market.