Kochi: The private sector Federal Bank will be interconnecting all its 421 branches across India by December this year, by implementing the multi-location voice ready wide-area network (WAN).

CISCO systems, the worldwide leader in networking for the Internet, which is undertaking the new networking, has already networked 250 branches of the bank till date, a CISCO press release said. The bank has also implemented CISCO security for confidentiality of data over the network.

The bank's plan is to link its branches via a network of leased lines with a secondary network of ISDN (international state dialling system) and VSAT's (very small aperture terminals) links providing back up in case of any disruptions.

The three-tier multi-location voice ready WAN network from CISCO will support the bank's distribution of financial products and services, such as Internet banking, telebanking, online ATMs (automatic teller machines) and unique services such as Fedfast and FedAlert, the release said.

Over the last few years, the bank has been aggressively infusing technology solutions to enhance customer service. Its Fedwide wide area network, covering all its 421 branches, will support a host of advanced applications like anywhere banking, inter-bank electronic funds transfer, online real-time Internet banking, online bills payment etc, K N C Nair, DGM-Systems, Federal Bank said.

Indian banking industry has realised that cutting edge network infrastructure was a key driver of growth in the future, B Ashok, vice president – India and SAARC (South Asian Association for Regional Co- operation) region, Cisco Systems, said.

PTI