Polaris Bank Nigeria launches VULTe; a new Digital Bank
On Tuesday, Polaris bank, a leading financial institution in Nigeria launched its own digital bank – VULTe.
At the well-attended unveiling ceremony which took place at the Eko Hotel, Lagos, and virtually for a national and global audience. Chairman of the Bank, M.K Ahmad (OON) disclosed that the corporate goal of Polaris is to offer customers and non-customers of the Bank, a 24-hour seamless service over two years ago when the Polaris journey started which led to the pursuit and now actualization of VULTe.
“This is a milestone in our pursuit of 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 today. 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,” the Chairman explained.
The Executives stepped out to unveil VULTe by Polaris Bank to the world. It's time to Take Control
Click here – – >https://t.co/ANjdp0uUZL to download VULTe Digital Bank and get 30 days free transfers. Available to Polaris and Non-Polaris Bank customers pic.twitter.com/l9TlOqAAA4
— Polaris Bank Ltd. (@PolarisBankLtd) May 19, 2021
In his keynote address, the Acting Managing Director/CEO of the Bank, Mr. Innocent C. Ike said the newly launched banking platform, is returning all powers to the customer as king. He noted that customers are now 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.”
Explaining the premium value the Bank places on its customer with the VULTe, Ike said: “Ultimately, VULTe represents our bold declaration to hand over CONTROL of banking services to our 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”.
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.
According to him; “The Digital Banking Platform, VULTE, will change everything that happens in the ‘brick & mortar space (i.e. branches) to clicks and buttons.”
“The 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,” he added.
The CDO explained that all Bank customers in the country can take advantage of the VULTe to carry out their banking transactions including account opening, bill payments, transfers, balance inquiry, airtime recharge, and quick loans.
He further stated that on-boarded customers will access PayDay Loan on both mobile and web digital platforms 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),” the CDO disclosed.
There's a new five letter word for control! Introducing, VULTe by Polaris Bank! The new standard in digital banking. Download today on the Apple App Store and Google Play Store —-> https://t.co/ANjdp0uUZL pic.twitter.com/Sy0ZHc5qPQ
— Polaris Bank Ltd. (@PolarisBankLtd) May 18, 2021
Meanwhile, the Bank also announced special reward packages for early users of the VULTe app. Reeling out giveaways and gifts, Mr. Muhammed Abdullahi, Executive Director, Abuja and Northern Region of the Bank said: “For your loyalty and positive acceptance of VULTe and all other banking services offered by Polaris Bank, on behalf of the Board, Management and Staff, I’m happy to announce some mouthwatering offers to everyone following us to mark this occasion.
“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 mementos like; Mugs, Michael Cable Charger, Key Rings, Pop Socket among other collection of gifts,” the ED said.
The launch event had in attendance representatives of 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 dignitaries include Professor 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 amongst others.
Others include 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.