Polaris Bank has been recognized as the Digital Bank of the Year (Global Award category) at the 2021 BusinessDay Banks And Other Financial Institutions award for its trailblazing delivery of VULTe Digital Bank.
The organisers at the award ceremony, which held in Lagos, disclosed that Polaris Bank’s VULTe outperformed all its peers in the industry across eight metrics considered by the award selection/review Committee.
The eight metrics considered were: 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 and platform security.
Others include: breadth of product offerings fir retail and corporate clients; evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuiteveness 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 May 18 this year launched VULTe at a grand ceremony in Lagos where it predicted that the the Digital Bank will redefine Nigeria’s Digital banking landscape.
And in a space of four months, VULTe performance and quantum of Customer uptake within and outside Nigeria confound Analysts as it crossed the one millionth customer uptake marking a major milestone with the likes of ThisDay newspaper describing the feat as revolutionary.
Receiving the award, Polaris Bank’s Managing Director/CEO, Innocent C. Ike, who was accompanied by his management Team at the ceremony, thanked customers of the Bank for their loyalty and patronage assuring that the best was yer to come.
While appreciating BusinessDay for the award, Ike confirmed that VULTe recorded the one million customer before the end of 4 months of its launch justifying that the huge ICT investment made by the Bank paid off ultimately with this recognition among several plaudits VULTe has recorded.
He said: 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.
“Thank you all and God bless.”
United Bank for Africa, Zenith Bank and Fidelity Bank were also recognised, carting home Bank of The Year Award, CEO of The Year and MSME and Entrepreneurship Financing Bank of The Year respectively.
(BusinessDay.)
