Polaris expands digital footprint with new online banking platform

Nigeran bank Polaris has boosted its digital presence with the launch of VULTe, its new digital bank.

According to Polaris, all bank customers in the country will be able to use VULTe for opening accounts, paying bills, transfers, balance enquiries, airtime recharge and quick loans.

Onboarded customers will also be able to access payday loans on both mobile and web digital platforms where eligibility will be displayed. Customers will be additionally enabled to pay taxes and levies for different government parastatals as well as performing inter-bank and intra-bank transfers.

Launched in 2018, Polaris was established by the Central Bank of Nigeria to provide commercial banking services to the Nigerian public. The bank has over 350 branches across the country.

VULTe customers with a bank verification number will input their number and take a photo of their face. From here, the picture will be compared automatically with the photo on their bank verification number profile via facial recognition.

Polaris chairman M.K Ahmad said, “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.”

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