Polaris Bank, Nigeria’s leading digital retail commercial bank, has once again demonstrated its digital supremacy in the banking sector by clinching the prestigious title of “Digital Bank of the Year” at the Banks and Other Financial Institutions Awards (BAFI Awards) for the fourth consecutive year. The bank also secured the award for “Best Bank for MSMEs of the Year” for the third consecutive year, highlighting its robust support for micro, small, and medium enterprises (MSMEs).
The recognition underscores Polaris Bank’s commitment to advancing its digital banking platform, VULTe, which has been acknowledged for its innovative features and user-friendly interface. The BAFI Awards Selection and Review Committee commended the bank for outperforming its industry peers across various metrics, including strategic initiatives to attract digital customers, enhance user engagement, and promote the use of digital offerings.
Mr. Kayode Lawal, the Managing Director/CEO of Polaris Bank, expressed pride in the bank’s accomplishments, emphasizing the significance of user experience in online transactions. He noted that Polaris Bank has recorded remarkable growth in digital transactions and lending, with over N10 billion disbursed in digital loans within the first eight months of the year, on track to exceed last year’s total of N12.8 billion.
The BAFI Awards, renowned for their rigorous empirical and data-driven selection process, are a testament to Polaris Bank’s ongoing investments in human and technological resources. Lawal stated, “We are honoured to receive this prestigious award, recognizing our commitment to the digital banking ecosystem. This consecutive vote of confidence in our capabilities is a responsibility, and we are doing everything to remain at the cutting edge of technology and services.”
With these accolades, Polaris Bank solidifies its position as the only Nigerian bank to have sustained such recognition over multiple years, reinforcing its strategy of continuous improvement and innovation in digital banking.