Zaggle Prepaid bags contract from Federal Bank for employee expense management platform

The agreement is for a three-year period and involves deployment of the company?s employee expense and benefits solution for the bank.

Zaggle clarified that the contract has been awarded by a domestic entity and does not involve any related-party transactions.

Zaggle Prepaid Ocean Services (Zaggle) is a leading player in spend management, with a differentiated value proposition and diversified user base. The company operates in the business-to-business customer segment. The company?s standalone net profit surged 77.7% to Rs 35.97 crore on a 47.9% rise in revenue from operations to Rs 497.63 crore in Q3 FY26 over Q3 FY25. The scrip shed 0.13% to Rs 263.65 on the BSE.

The Federal Bank (?the Bank?) was incorporated in 1931 as Travancore Federal Bank Limited. It provides retail and corporate banking, para banking activities such as debit card, third party product distribution etc., treasury and foreign exchange business. The bank?s standalone net profit rose 9% to Rs 1041.21 crore on 3.1% jump in total income to Rs 7,967.79 crore in Q3 FY26 over Q3 FY25. The scrip added 2.57% to Rs 291.60 on the BSE.