Zaggle Prepaid Ocean Services Limited has officially entered into a three-year agreement with The Federal Bank Limited. Under the terms of this partnership, Zaggle will provide its flagship ‘Zaggle Save’ platform, which specializes in employee expense management and corporate benefits, to the bank. This strategic collaboration is expected to enhance the service offerings for the bank’s workforce and represents a significant expansion for Zaggle’s footprint within the domestic banking sector.
Strategic Collaboration
On April 17, 2026, Zaggle Prepaid Ocean Services Limited announced that it has successfully secured a new contract with The Federal Bank Limited. This partnership marks a notable milestone for the company as it continues to scale its enterprise-focused financial technology solutions in the Indian market.
Service Offering and Scope
As part of this agreement, Zaggle will deploy its Zaggle Save solution. This platform is designed to streamline employee expense management and corporate benefits. By integrating this technology, The Federal Bank Limited aims to optimize internal processes related to workforce spending and benefit administration. The contract is strictly between domestic entities and is classified as an independent business agreement, operating at arm’s length with no promoter interest involved.
Timeline and Market Outlook
The contract is slated for a duration of 3 years, during which Zaggle will support the bank’s requirements for its expense management ecosystem. This win further validates the adoption of Zaggle’s specialized fintech tools by major banking institutions and adds to the company’s growing portfolio of long-term enterprise clients.
Source: BSE
