
Polaris Bank Limited says it is set to launch a new digital bank in Nigeria to harness rising prospects in the e-payment systems
It said feelers indicate that the bank’s new digital bank, which has for some time been in test mode among its staff and customers, is set to grow its market share, targeting a new generation of digital natives and immigrants who are socially and financially aware of innovations in self-service and stress-free transactions.
The bank said the long wait which greeted the launch was to ensure that the platform is robust enough to meet prevailing global standards and support other existing entities in the digital banking ecosystem.
It explained that as part of its enterprise transformation initiatives, it had overhauled its information technology infrastructure within the last two years and upgraded its digital capability.
Its Managing Director/Chief Executive Officer, Innocent Ike, was quoted as saying that:“This has seen the institution grow to earn the confidence of the banking publics, as it has been able to offer quality banking services at the cutting edge of technology.”
It said some of such benefits included access to instant loans, accessing the platform service without being a prior customer of the bank, and end-to-end account opening without entering a physical bank.
It added that one of the competitive benefits of the bank is its creation of a collaborative ecosystem that enabled Application Programming Interface banking.
It explained that API banking referred to a system that makes a bank’s services available to other third-party companies via APIs.
“API banking helps both banks and third-party companies augment their complementary specialties and offerings more than they can provide to their customers by themselves,” it stated.