Polaris Bank says its new VULTe app has opened a digital bank for users to take control of banking services from the comfort of their palms.
The fast changing landscape in financial services and technology-defined outlook of the bank led to the introduction of the VULTe app, M.K Ahmad, Chairman of Polaris Bank says at the recent unveiling of the service in Lagos.
Polaris says the VULTe app will be open to its customers and non-customers to enjoy a 24-hour service.
“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”, Ahmad says.
According to Mr. Innocent C. Ike, Polaris Bank Acting Managing Director/CEO says, “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.”
VULTe, which comes in mobile (Android and iOS) and Web Applications allows bank customers in Nigeria to conduct banking transactions like account opening, bill payments, transfers, balance enquiry, airtime recharge and quick loans.
On-boarded customers will be able to access PayDay Loan on both mobile and web digital platforms where eligibility will be displayed to the customer within the VULTe application, the bank says.
Such on-boarded customers will be enabled to pay taxes and levies for different government parastatals in addition to being able to perform intra-bank and inter-bank transfers.
“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)”, Polaris Bank says.