Polaris Bank, a frontrunner in Nigeria’s digital banking space, has once again demonstrated its digital leadership and commitment to the financial growth of micro, small, and medium enterprises (MSMEs) by winning the "Digital Bank of the Year" and "Best Bank for MSMEs of the Year" awards at the 2024 Banks and Other Financial Institutions Awards (BAFI Awards).
Polaris Bank: Sustained Excellence in Digital Innovation and MSME Support
The BAFI Awards Selection and Review Committee credited Polaris Bank for its outstanding digital banking strategies, emphasizing Polaris’s customer acquisition success, heightened user engagement, digital adoption, platform functionality, and security. This empirical and data-driven awards program remains a benchmark for excellence within Nigeria’s financial services industry, bringing prestige to Polaris’s accomplishments.
Polaris Bank’s Managing Director/CEO, Mr. Kayode Lawal, expressed his gratitude and commitment to furthering digital transformation. “We are honoured to receive these prestigious awards, which affirm our dedication to advancing the digital banking ecosystem in Nigeria. This recognition is a testament to our responsibility to maintain our position at the forefront of technology and service innovation,” he stated.
Driving Growth Through VULTe’s Robust Features
Mr. Lawal highlighted the market’s enthusiastic response to VULTe, with the bank achieving over N10 billion in digital lending in the first eight months of 2024, already on track to exceed 2023’s total of N12.8 billion. “Our focus on user experience has set VULTe apart, offering unmatched convenience and security through continuous technological investment,” he added.
Polaris Bank’s VULTe platform provides a full spectrum of digital banking solutions, including QR payments, instant account opening, real-time loan applications, and card services – all accessible from the comfort of users’ locations. Non-customers can also experience these offerings, thanks to VULTe’s inclusive design. Additionally, VULTe's API Banking feature allows seamless integration for merchants, enabling functionalities like risk assessment, bank statement requests, lien accounts, and direct debits.
Designed to serve a diverse customer base, VULTe supports individual users, SMEs, and high-net-worth clients. The platform facilitates rapid access to collateral-free personal and business loans, helping individuals and enterprises achieve financial flexibility.
Commitment to Sustainable Digital Leadership
Polaris Bank continues to solidify its leadership in digital and MSME banking through strategic initiatives, aiming to drive sustained growth and strengthen its position in the financial services landscape. Polaris Bank remains focused on delivering a banking experience that emphasizes efficiency, security, and innovation, thereby setting new standards in digital banking for Nigeria.