Why did the Jupiter team selected Federal Bank

Why did the Jupiter team selected Federal Bank as their banking partner instead of HDFC or ICICI??

Do you guys plan or is it possible that in future Jupiter has more than one banking partner and what would you do if a situation similar to Yes bank arises that made apps like PhonePe useless and now Phonepe provides upi id with ICICI and axis bank also to avoid future problems. @Shawnpinto @Jiten @Bankofthefuture

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Federal bank is as solid as large bank as icici or Axis. They are largest bank in South India so no issue such as Yes bank. You may refer that federal bank has highest liquidity ratio and even better than icici/hdfc

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Is it possible for Jupiter to have more than one banking partner? @Jiten

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Based on my experience federal bank have better service and ATMs than any other banks, In my small tire 3 town, we have 5 ATMs which is more than Icici or HDFC, And they have a good customer care, I had many bad experience with ICICI. They are well trusted here in kerala. And they adapt to technology early.

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Yes that’s because they are based in Kerala and are an established private bank.

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Unclear about the north, but Federal bank has quite an ATM presence across south of India. I’ve seen branches in the north, but the south gets a lot of their focus.

I’ve had an account with them in my teens. Haven’t really used it much, nor do I recall whatever balance I might have had (probably pennies), but I do not recollect any foul experiences. They were pretty decent with paper work and manpower efficiency. Unlike SBI.