Polaris Bank Commits To Digital Banking Ecosystem

Polaris Bank, has proved its digital dominance in the Nigerian banking industry, winning the most-coveted award as the best in digital banking and the entire ecosystem for micro, small and medium enterprises (MSMEs).

At the Banks and Other Financial Institutions Awards (BAFI Awards), financial industry’s prestigious awards, Polaris Bank’s trailblazing digital banking platform, VULTe was adjudged the best as “Digital Bank of the Year”, for the fourth consecutive year.

Polaris Bank was also awarded ‘Best Bank for MSMEs of the Year’, for the third consecutive year, underlining the bank’s well-known competitive lending and general support for small businesses and the real sector.

The BAFI Awards Selection and Review Committee stated that Polaris Bank outperformed industry peers in all key metrics, including strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, platform functionality and security.

Speaking on the award, managing director/CEO, Polaris Bank, Kayode Lawal, said the continuing recognition of VULTe as best digital bank emphasises the user-friendly and multi-functional strengths of the digital platform.

He pointed out that Polaris Bank has seen tremendous market gain in digital transactions and lending with digital lending totaling more than N10 billion in the first eight months of this year, on course to surpass the N12.8 billion recorded for the whole of 2023.

He said the bank understands the importance of user-experience in online transactions and thus prioritises convenience and safety, with sustained investments in bespoke technologies.

“We are honoured to receive this prestigious award, recognising our commitment to the digital banking ecosystem. We understand clearly that this consecutive vote of confidence on our capability is a responsibility, and we are doing everything to remain on the cutting-edge of technology and services.

“We are sure ongoing strategic initiatives will not only sustain our leadership in digital banking and support for the real sector, but also deliver sustainable growth that will firmly entrenched our digital leadership across the financial services industry,” Lawal said.

He commended the organisers of the BAFI Awards, BusinessDay, for their commitment to the empirical process.

A full digital bank that provides fast, convenient, and reliable solutions to banking needs; some of VULTe’s unique features include: QR payments, end-to-end account opening, instant loan request, debit card request, issuance, and activation, without the customers leaving the comfort of their homes, offices or wherever they may be.

The platform does not just cater to Polaris Bank’s customers alone, but non-customers alike who can also download and enjoy banking services on VULTe.

With its all-in-one solution, VULTe not only caters to individual customers but also SMEs, high net worth and retail customers. It takes a few minutes to access collateral-free personal and business loans that enable individuals and enterprises of customers.