Polaris Bank has reaffirmed its position as a trailblazer in Nigeria’s digital banking landscape, clinching two major honours — ‘Digital Bank of the Year’ and ‘Best Bank for MSMEs’ — at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The double win marks Polaris Bank’s fifth recognition as Digital Bank of the Year and fourth as Best Bank for MSMEs, reflecting its consistent leadership in financial technology, innovation, and support for small and medium enterprises across Nigeria.
Commitment to Digital Transformation
Polaris Bank’s success is driven by its groundbreaking VULTe 3.0 platform, an AI-powered digital banking solution that delivers personalized experiences and simplifies financial transactions for individuals and businesses.
Launched in 2021 and continuously upgraded, VULTe has evolved into one of Nigeria’s most advanced digital ecosystems. Its 2025 upgrade — VULTe 3.0 — integrates artificial intelligence to enhance personalization, automate engagement, and optimize transaction speed and security.
Within the first eight months of 2025, the platform recorded record-breaking transaction volumes, signaling high customer trust and broad adoption nationwide.
“This award is a celebration of our customers, whose trust and engagement inspire every innovation we create,” said Dele Adeyinka, Chief Digital Officer of Polaris Bank.
“VULTe is more than a platform; it is a community of empowered users who bank, borrow, save, and grow with ease. Every update we make reflects our mission to make banking smarter, simpler, and more inclusive for every Nigerian.”
Empowering MSMEs and Driving Inclusive Growth
Beyond digital banking, Polaris Bank has been a major catalyst for MSME empowerment in Nigeria. The Bank continues to provide accessible credit facilities, digital business tools, and growth support programs for small and medium enterprises — especially women-led and creative industry businesses.
In the second quarter of 2025, Polaris Bank launched a creative industry funding initiative in partnership with Woodhall Capital (UK), the Lagos State Government, and the British Government. The program has since expanded to hundreds of MSMEs across multiple sectors, providing access to working capital and business growth opportunities.
Through VULTe for Business, MSMEs can now access digital credit assessments, simplified loan applications, and real-time transaction management — cutting out traditional banking bottlenecks and enabling faster business growth.
Leadership Perspective
Speaking on the Bank’s double recognition, Kayode Lawal, Managing Director/CEO of Polaris Bank, credited the achievement to the institution’s people-first philosophy and innovation-driven culture.
“Winning Digital Bank of the Year for the fifth time and Best Bank for MSMEs for the fourth time validates our belief that true innovation begins and ends with the customer,” Lawal said.
“Our mission has always been to use technology as an enabler of opportunity — to make banking not only easier but transformative. These awards belong to our customers, our people, and every partner who believes in our vision.”
Lawal further reaffirmed Polaris Bank’s commitment to continued investment in digital infrastructure, including its recent core banking system upgrade, which enhances service delivery and integration across all customer channels.
Recognized for Excellence and Trust
The BusinessDay BAFI Awards celebrate excellence in Nigeria’s financial services sector, recognizing institutions that demonstrate innovation, resilience, and measurable customer impact.
Polaris Bank’s consistent wins — five years running — reinforce its authoritativeness and credibility in digital innovation and SME development. With its customer-centric design, AI-driven solutions, and commitment to financial inclusion, Polaris Bank stands out as a trusted partner for individuals and businesses navigating Nigeria’s digital economy.
About Polaris Bank
Polaris Bank Limited is a leading customer-focused financial institution in Nigeria committed to delivering industry-defining value across retail, SME, and corporate segments. The Bank’s mission is anchored on innovation, inclusion, and excellence — using technology to empower people and businesses to achieve sustainable growth in a fast-evolving digital world.
For more information, visit www.polarisbanklimited.com or follow @PolarisBankLtd on social media.
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