Nigeria’s Polaris Bank has rolled out a digital banking platform called VULTe in a bid to increase its market share.
The digital offering will offer customers with a 24-hour service providing them with greater control over their finances.
VULTe will support account opening, bills payments, fund transfers, balance enquiry among other services. The on-boarded customers can also access PayDay Loan on both mobile and web digital platforms.
Applicants can onboard by providing their bank verification number (BVN) and taking a selfie. Subsequently, an automatic process will compare the photo on their BVN profile with the selfie to authenticate the identity.
During the launch event, Polaris Bank chairman MK Ahmad said: “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 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.”
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Acting Managing Director/CEO of the bank Innocent C. Ike said: “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.”