Polaris Bank was named “the most improved Bank under retail segment moving up five places to sixth position and third under SME segment” in the 2022 KPMG Nigeria Banking Industry Customer Experience survey, with the bank exhibiting considerable improvement in customer ratings. Many customers have praised the bank for its personalized service, proactive problem-solving approach, and quick turnaround times.
According to the report, the bank’s mobile banking offerings have greatly improved. Customers report that the onboarding and payment experiences have both improved. Businesses also rated Polaris Bank highly for the quality of its payment solutions and, crucially, the timeliness with which POS-related concerns were resolved.
Polaris Bank (third position), along with Sterling Bank, Wema Bank, and Zenith Bank, was the other new entrant in the top five. POS-related issues like as settlement timeliness and dispute resolution were among the most critical criteria for SMEs this year. GTBank has emerged as the market leader in the SME segment.
Polaris Bank’s award-winning Digital Bank, VULTe, has changed the game for personalized and business products. Over N1.5 billion in loans were disbursed through VULTe to individuals and SMEs between October 2022 and February 2023 to aid personal and business growth in the country.
Polaris Bank’s digital platform VULTe also earned an outstanding uptime ratio, allowing its users to conduct frictionless transactions. This performance outperformed its competitors and earned the Nigerian Interbank Settlement Systems (NIBBS) recognition. VULTe displayed remarkable dependability, in particular, during the recent currency redesign initiative, which aimed to promote Nigeria’s cashless policy. NIBBS expressed its thanks for VULTe’s outstanding performance during this difficult period during a business call with the Bank’s management.