These APIs are offered to extend loan facility to Customers, through FinTech applications. The APIs enable automated loan account creation and loan disbursal capabilities which the FinTech applications can readily use to run their services, in a fully digitalized and integrated fashion.
The Fund Transfer APIs enable easy money transfer services between Bank accounts in India. It facilitates ease in the transfer process using technology solutions like NEFT, RTGS and IMPS mode of payments.
Through the Remittance Fund Transfer API, fund transfer from outside of India is made easy. Exchange houses abroad can set up services to transfer money into Indian accounts. Along with Federal Bank APIs for enquiry and reconciliation, this bundle offers a complete fund transfer solution, from abroad to accounts maintained by Federal Bank in India. These APIs are used for receiving the money from foreign exchanges, money will be transferred between exchange Account number and the customer account number.