Polaris Bank has been declared winner of the Digital Bank of the Year (Global Award category) at the recently held Banks And Other Financial Institutions (BAFI) award for its innovative delivery of VULTe Digital Bank organised by BusinessDay Newspapers.

Speaking at the award ceremony, the organisers stated that Polaris Bank’s VULTe outperforms all its peers in the industry across 8 metrics considered by the award selection/review Committee.

The 8 metrics considered are: 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: the breadth of product offerings for retail and corporate clients; evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.

However, other Nominees in the Digital Bank of The Year Award category were: ALAT by WEMA, Kuda and VBANK.

The organisers said; “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’s Managing Director/CEO, Innocent C. Ike who was accompanied by his management team at the ceremony, while receiving the award thanked the bank’s customers for their loyalty and patronage, assuring that the best is yet to come.

Also, while appreciating BusinessDay for the award, the bank confirmed that VULTe recorded the 1 millionth 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.

Polaris Bank on May 18th, 2021 launched VULTe at a grand ceremony in Lagos where it predicted that 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.