Polaris Bank has once again affirmed its leadership in Nigeria’s digital banking landscape, securing the prestigious “Digital Bank of the Year” award for the fourth consecutive year at the Banks and Other Financial Institutions Awards (BAFI). This accolade, awarded to Polaris Bank’s advanced digital banking platform, VULTe, underscores the bank’s dedication to delivering cutting-edge digital solutions in the Nigerian financial sector.
Additionally, Polaris Bank received the “Best Bank for MSMEs” award for the third consecutive year, in recognition of its extensive support for micro, small, and medium enterprises (MSMEs). This dual recognition highlights the bank’s ongoing commitment to bolstering Nigeria’s real sector through accessible and competitive lending options.
The BAFI Awards Selection and Review Committee cited Polaris Bank’s exceptional performance in customer acquisition, digital engagement, and security as key factors in its success. With its emphasis on empirical and data-driven metrics, the BAFI Awards is known as one of Nigeria’s most respected financial industry accolades.
Polaris Bank’s Managing Director/CEO, Mr. Kayode Lawal, expressed pride in VULTe’s continued success, noting significant growth in digital transactions and lending. “Digital lending surpassed N10 billion in the first eight months of 2024, on track to exceed last year’s total of N12.8 billion,” Lawal remarked, attributing this growth to VULTe’s user-friendly interface and the bank’s sustained investment in advanced technology.
“We are honored by this award, which highlights our commitment to digital banking and MSME support,” Lawal added. “Our strategic initiatives will continue to solidify our leadership in the digital space and foster sustainable growth within Nigeria’s financial services sector.”
VULTe, a comprehensive digital banking platform, provides both Polaris customers and non-customers with seamless banking solutions, including QR payments, instant loans, debit card services, and end-to-end account opening. Businesses can also benefit from VULTe’s API Banking, which integrates banking functions with critical business systems, facilitating risk assessments, direct debits, and more.
This latest recognition cements Polaris Bank’s status as a pioneer in Nigeria’s digital banking transformation, consistently driving financial inclusion and technological advancement across the industry.