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Federal Bank is going paperless And seeing some amazing results!
7Min
Average execution time
2X
employee productivity
ZERO
mistakes in documentation
CRORES
saved on printing and storing documents
10 Million
sheets of paper saved in just 2 years
“Moving into paperless has been a boon for banks like us”
- Shalini Warrier, Executive Director
Like all banks - Federal Bank had a tonne of paperwork. Doing this physically created a lot of problems
Scroll to see the problems
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— Arkojit Kundu, Product Owner - eSign, Digital Centre of Excellence
“For some products, paperwork used to take up to 7 days to complete”
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— Shalini Warrier,Executive Director
“With [physical paperwork] you needed the customer physically present at the same location as where the transaction was happening. That was a big impediment because customers have a life of their own.”
— Ramesh S, VP & Head - Credit Administration Department
“The time spent by our employees for getting loan documents executed would otherwise have been spent on sourcing. So I do believe efficiency could have been much better [without physical paperwork]”
— Shalini Warrier,Executive Director
"We were seeing a lot of errors because, when it's done manually, human beings make mistakes. One page gets missed, a signature is forgotten, and then during the audit process, someone catches it, leading to a scramble to fix the issue."
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— Jacob Verghese, AVP - Retail Assets & Cards
“If it is typed, you need a printer, to print out those documents which need to be executed. Cost is a major factor - paper costs, documentation costs, printout costs, manpower costs.”
— Sumoth C, VP & Head - Digital Centre of Excellence
"The documents are indexed, organized, and stored in files. Then, multiple agencies manage the storage facilities. But later, if you need to retrieve something—whether for the customer, legal matters, or regulatory compliance—it becomes a nightmare."
— Jacob Verghese, AVP - Retail Assets & Cards
"Stamp procurement was a major headache. It was especially difficult to manage in cases where stamp duty is variable - making it hard to pre-procure stamps. We also faced issues around stamp validity."
— Arkojit Kundu, Product Owner - eSign, Digital Centre of Excellence
“To produce one lakh A4 sheets of paper, it takes around eight to nine trees. From a carbon footprint perspective, this was significant.”
Watch Video Testimonials
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“Scaling up is impossible with physical documentation”
— Chitrabhanu KG,SVP & Country Head, Retail Assets and Cards
Federal Bank decided enough was enough - it was time to move away from physical paperwork
Scroll to see the solution
— Arkojit Kundu, Product Owner - eSign, Digital Centre of Excellence
"The first digital paperwork project we launched was in auto loans. Then people started realizing, 'Okay, you can do this digitally.' That’s when the pull factor kicked in—[other verticals] began asking, 'I want to sign this digitally, I want to do this digitally.'"
Watch Video Testimonials
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In 30 months, Federal Bank has gone live with digital paperwork in 11 verticals - that’s more than one vertical per quarter
How did Federal Bank manage to scale this up so fast?
Scroll to see Federal Bank's implementation story
— Vipin Viswanath, Senior Manager, Fintech Partnerships
"With other APIs—whether it's a bank’s API or a third-party API—we always have to rely on the tech or IT team for implementation. But with Leegality, it’s different. We manage it ourselves, even though we’re not a tech team."
— Anand Krishna, Assistant Manager, Digital Centre of Excellence
“It's not complex to integrate [with Leegality], it's just plug and play.”
— Robin Jose, Senior Manager, Digital Centre of Excellence
“The support we are getting from Leegality is awesome. Please keep up this support.”
Watch Video Testimonials
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"Of course, we had assessed other options at the time. But ultimately, I believe choosing Leegality was the right decision. The feedback I’ve received from the ground-level team at the bank, as well as from dealers and customers, confirms that it was the best decision we’ve made."
— Jacob Verghese,AVP - Retail Assets & Cards
What benefits is Federal Bank seeing from the new Leegality powered digital process?
Scroll to see the benefits
— Arkojit Kundu, Product Owner - eSign, Digital Centre of Excellence
“What used to take 7 days can now be done within minutes”
— Ankur Bansal, Home Loan customer
“This digital [paperwork] process is so convenient that you feel like taking loans more frequently”
— Shalini Warrier,
Executive Director
Executive Director
“[Our employees] are now really happy and say “what was X for me before, I'm now able to do 2X in the same amount of time because of the [digital paperwork] process. So from an employee standpoint, [digital paperwork] has been hugely beneficial.”
— Supratik Biswas, Manager, Retail Sales, Maharashtra
“With the digital process coming in, we are now doing almost 4x the business”
— Mohan K, SVP & Country Head - Agri, Micro & Rural Banking
“Now if you visit some of our branches you will not find any physical documents. No files, no paper, nothing.”
— Jacob Verghese, AVP - Retail Assets & Cards
“We now have a stamp dashboard where we manage all the stamps—availability, expiry, and more. We’ve moved from ground-level stamp management to a centralized system, where all the stamp papers are stored centrally and readily available when needed. The operational ease is tremendous.”
— Sumoth C, VP & Head - Digital Centre of Excellence
“We have saved around 10 million sheets of paper through the digitization method”
Watch Video Testimonials
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“Today Leegality has become a verb in the bank”
- Shalini Warrier, Executive Director
Federal Bank executives, employees and customers share their experience with Leegality
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