Polaris Bank shined this weekend with its personalized virtual bank, VULTe, which won Nigeria’s “Best Digital Bank of the Year” award for the third time at BusinessDAY’s prestigious Banks and Other Financial Institutions (BAFI) awards.
Polaris Bank won the “Best MSME Bank of the Year” award at the same event.
VULTe is a virtual banking platform designed to allow consumers to complete any and all banking transactions, from opening an account to applying for certain categories of loans, to generating bank statements. It also connects the visitor to observe lifestyle trends and social events. It’s an all-in-one solution built to provide maximum convenience to consumers and designed to provide answers to the demanding everyday situations of accessing money and more.
Over the past 12 months, VULTe has evolved from being more targeted at individual consumers to enhanced features to offer seamless self-service to SMBs, high-net-worth customers, and individuals.
The more than 40 million MSME operators in Nigeria can now use Vulte to obtain unsecured loans for private and commercial use; where eligible SME marketers and operators can apply and get up to 20 million naira in five minutes without having to go to the bank in person.
At the presentation of the Best Digital Bank award to Polaris Bank, the organizers of the BAFI Awards that the Awards Selection and Review Committee chose Polaris Bank’s VULTe as the winner, after outperforming its industry peers, in 8 metrics to consider.
Metrics include: the strength of the strategy to attract and win virtual consumers, acceleration of user engagement, good luck getting consumers to use virtual offerings, growth of virtual visitors, and platform security.
Other metrics include the breadth of product offerings aimed at retail and commercial customers, tangible evidence of virtual projects, and website/mobile design, intuitiveness, and functionality.
At the same BAFI awards, Polaris Bank was declared “MSME Bank of the Year,” making it a back-to-back win for the bank (it won the same award in 2022) in what organizers described as the Bank’s abundant effect on MSMEs. operators throughout Nigeria.
In recent months, Polaris Bank has committed billions in loans to expand the operations of MSMEs operating in Nigeria.
Polaris Bank had introduced a billion naira fund for MSMEs in May 2022 in partnership with the Lagos State Employment Trust Fund (LSETF), as a component of what the bank said was aimed at offering a financing much needed to create wealth and empower marketers and players in the MSME sector. in Nigeria, starting with Lagos.
Prior to the release of the billion-dollar MSME Fund, Polaris Bank had committed, and indeed continued, to provide multi-billion dollar financing to MSME operators across sectors, adding health care, among other incentives, such as a moratorium on services provided to protect businesses following the bill’s effect. Covid-19 pandemic in companies.
Accepting the award on behalf of the Bank, Dele Adeyinka, Head of the Commercial Division
He rewarded the bank’s customers and stakeholders for making VULTe what it is today and pledged that “Polaris Bank will continue to make a virtual impact on MSMEs through cutting-edge banking products, affordable financing, and creative facilities that bring significant value to the smartest of all stakeholders. “
Polaris Bank is a forward-thinking bank committed to forging a long-term, customer-centric relationship through cutting-edge partnerships that reshape businesses and communities.
POLARIS BANK is a wonderful bank and has made a huge impact. They don’t have a huge impact like other banks, but they do have a big impact on their facilities and products. I LOVE POLARIS BANK
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