Polaris Bank Launches Digital Banking Platform, VULTe

Its Chairman, Muhammad Ahmad said the launch of VULTe was in line with the corporate goal of the bank to offer customers and non-customers 24-hour services. According to him, the launch of the digital platform is a milestone and a vindication of the bank as a strong and digitally-led retail brand.

“When we started the Polaris journey almost three years ago, we were very clear on the type of bank we must build and the direction we must go.”

This was largely informed by the fast pace of change in financial service provisioning and the apparent technology-defined outlook of our business.

“We are, therefore, bringing VULTe to the marketplace. And this is not another mobile app, but one with a world of difference, a mobile digital bank.This is your bank in your hand, affording you total control of your financial service needs. With VULTe, you serve yourself, the way you want to be served,” Ahmad said.

Acting Managing Director, Polaris Bank Limited, Mr. Innocent Ike said the new platform is returning all powers to the customer as king.

He noted that customers were at liberty to enjoy an unhindered, contactless and refreshing banking experience all at the tip of their fingers thanks to the newly launched VULTe app.

“With VULTe, we affirm our resolve to serve the customer better and make their banking experience, more pleasurable. Therefore, we will continue to launch an array of banking products to cater to the varying needs of our diverse customers,” Ike said.

According to him, VULTe represents Polaris Bank’s bold declaration to hand over control of banking services to customers and allow them to serve themselves as they would want to be served.

“As a Polaris Bank customer, you are at liberty to determine your banking experience since we have put the bank in your hand 24/7. You now have total control to serve yourself; it’s no more customer service but customer self-service.

“Are you opening an account, setting limits on your account, verifying your identity documents, registering your biometrics, making inquiries, taking an instant loan? You are in total control – you do it at your time, at your convenience, and on your terms – you determine how delightful your banking experience will be,” Ike said.

The highlight of the launching was the practical demonstration of the uniqueness of the VULTe application by the bank’s Chief Digital Officer, Mr. Bamidele Adeyinka to the excited guests.

Adeyinka said the digital banking platform, VULTE, will change everything that happens in the ‘brick and mortar’ space to clicks and buttons.

He explained that VULTE comes in mobile-Android and iOS and web applications and it allows customers with either of the options, to access banking services at the click of the button.

Adeyinka said all bank customers in the country can take advantage of the VULTe to carry out their banking transactions including account opening, bills payments, transfers, balance enquiry, airtime recharge and quick loans.

He added that on-boarded customers will be able to access PayDay Loan on both mobile and web digital platform where eligibility will be displayed to the customer within the VULTe application.

Also, onboarded customers will be enabled to pay taxes and levies for different government parastatals in addition to several other benefits such as the ability to perform intra-bank and inter-bank transfers.

“To onboard, customers with BVN will input their BVN and take a selfie-photo of their face which will be compared automatically with the photo on their BVN profile via facial recognition – an advanced cognitive and artificial intelligence facial recognition technology,” Adeyinka said.

Meanwhile, the bank also announced special reward packages for early users of the VULTe app. Executive Director, Abuja and Northern Region, Polaris Bank Limited, Mr. Muhammed Abdullahi reeled out giveaways and free gifts to customers for their loyalty and positive acceptance of VULTe.

“Consequently, please note that the first 2000 persons who download VULTe from Appstore or PlayStore and make a transaction on the platform, stand to win a collection of beautiful mementoes like;  Mugs, Michael Cable Charger, Key Rings, Pop Socket among other collection of gifts,” Abdullahi said.

The launch event had in attendance representatives of the Central Bank of Nigeria (CBN), key financial technology (FinTechs) industry players and strategic partners of Polaris Bank who all in their goodwill messages attested to the bank’s unwavering determination to ensuring quality customer satisfaction at all times.

Some of the dignitaries included Prof. Olayinka David-West, Dean, Information Systems, Lagos Business School (LBS); Chief Demola Aladekomo, Chairman, Chams Plc; Agada Apochi, Managing Director, Unified Payment Systems; Babatunde Okeniyi Managing Director, PayAttitude; AyoTunde Coker, MD Rack Center; Funke Opeke, MD, Main-One; Jimi Awosika, Group Vice Chairman Troyka/Insight; Akin Banuso, County General Manager, Microsoft; Dr. Ken Ikpe, Group CEO, Insight Redefini; Paul Mosimabale Upperlink Co-founder; Obi Emetarom, Appzone Limited MD and Mrs Abiola Laseinde, MD, Edniesal Consulting.