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Polaris Bank launches digital banking platform

Polaris Bank launches digital banking platform
May 22
18:18 2021

Polaris Bank has launched a digital banking platform, VULTe, to cater for customers’ self-service operations.

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The digital payment platform was unveiled at Eko Hotel, Lagos, on Tuesday.

In his welcome address, M.K. Ahmad, chairman of the bank, said the corporate goal of Polaris Bank is to offer customers and non-customers 24-hour seamless service.

He said the launch of VULTe connotes transfer of control to customers to fulfill their financial needs.

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“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,” he said.

“We are, therefore, bringing VULTe to the market place 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.”

In his keynote address, Innocent C. Ike, acting managing director/chief executive officer of the bank, said the newly-launched banking platform, is returning all powers to the customer as king.

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He noted that customers are now at liberty to enjoy unhindered and contactless banking experience at the tip of their fingers.

“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,” he 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.

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“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.”

Speaking at the event, Bamidele Adeyinka, the bank’s chief digital officer, said the all Polaris Bank customers in the country can take advantage of the VULTe platform to carry out their banking transactions including account opening, bills payments, transfers, balance enquiry, airtime rechage and quick loans.

He said on-boarded customers will be able to access payday loan, as well as pay taxes and levies for different government parastatals in addition to several other benefits such as ability to perform intra-bank and inter-bank transfers.

“The digital banking platform, VULTe, will change everything that happens in the ‘brick & mortar’ space (i.e. branches) to clicks and buttons,” he said.

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“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.

“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 bank announced that the first 2,000 customers to download VULTe from Appstore or PlayStore and make a transaction on the platform, will win a collection of items such as mugs, cable chargers, key rings, pop sockets, among others.

Some dignitaries who graced the event include: Olayinka David-West, dean, information systems, Lagos Business School (LBS); Demola Aladekomo, chairman, Chams Plc; Agada Apochi, managing director, Unified Payment Systems; Babatunde Okeniyi, managing director, PayAttitude; Akin Banuso, county general manager, Microsoft, among others.

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