Polaris Bank has been recognized as the Digital Bank of the Year (Global Award Category) at the 2021 BusinessDay’s Banks and Other Financial Institutions, (BAFI) award, for its trailblazing delivery of VULTe Digital Bank.
At the award ceremony which took place in Lagos, the organisers disclosed that Polaris Bank’s VULTe has outperformed all its peers in the industry across 8 metrics considered by the award selection/review committee.
The 8 metrics considered are:
- Strength of strategy for attracting and gaining digital customers
- Accelerated user engagement since the pandemic
- Success in getting clients to use digital offerings
- Growth of digital customers
- Platform security
- The breadth of product offerings for retail and corporate clients
- Evidence of tangible benefits gained from digital initiatives
- Web/mobile site design, intuitiveness and functionality
Other nominees in the Digital Bank of The Year Award category were ALAT by Wema, Kuda and VBank.
In the words of BusinessDay: “According to the selection parameters, the selection of Polaris Bank was based on VULTe satisfying and exceeding the hurdle scores in the period under review”.
Polaris Bank had on 18th May this year launched VULTe at a grand ceremony in Lagos where it predicted that the Digital Bank will redefine Nigeria’s Digital banking landscape.
In a space of four months, the performance of VULTe and the quantum of customer uptake within and outside Nigeria have confounded analysts as it crossed the one millionth customer uptake. This marked a major milestone, with analysts describing the feat as revolutionary.
Receiving the award, Polaris Bank’s Managing Director/CEO, Innocent Ike, who was accompanied by his management team to the ceremony, thanked customers of the Bank for their loyalty and patronage, assuring that the best was yet to come.
While appreciating BusinessDay for the award, Mr. Ike confirmed that VULTe recorded the one millionth customer mark before the end of 4 months of its launch, thus justifying that the huge ICT investment made by the Bank paid off ultimately with this recognition among the several plaudits VULTe has recorded.
“We thank our customers for the trust they have in our Bank and our services and our dedicated team that put VULTe together, for a job well done. We live in a digital era, and we have no choice but to lead this era as a Bank”, the Polaris CEO concluded.