Polaris Bank has reinforced its leadership in Nigeria’s digital banking sector, earning the titles of ‘Digital Bank of the Year’ and ‘Best Bank for Micro, Small and Medium Enterprises’ at the 2025 BusinessDay Banks and Other Financial Institutions Awards.
According to a statement by Rasheed Bolarinwa, Acting Head of Brand Management & Corporate Communication at Polaris Bank, this marks the fifth time the bank has been named Digital Bank of the Year, underscoring its industry leadership, customer trust, and unwavering commitment to innovation and inclusion.
Polaris Bank has continued to redefine digital banking in Nigeria through bold innovations, customer-centric solutions, and sector-shaping initiatives.
The statement stressed that with an unrelenting focus on financial inclusion and customer empowerment, the bank’s digitally led strategy has transformed how Nigerians access, manage, and grow their finances.
The statement read in part, “At the heart of this transformation is VULTe, Polaris Bank’s flagship digital platform, which has recorded phenomenal growth and activity in 2025. Within the first eight months of the year, the platform handled an extraordinary volume of transactions, reflecting the deep trust, widespread adoption, and scale of Polaris Bank’s digital ecosystem. More than just enabling seamless banking, VULTe continues to power the financial backbone of businesses and individuals across Nigeria. Far beyond being another banking app, the upgraded VULTe 3.0 stands as a best-in-class digital banking solution. It integrates artificial intelligence-powered features that personalise user experiences, automate engagement, and enhance operational efficiency. Since its initial launch in 2021, Polaris Bank has maintained a culture of continuous improvement, upgrading features based on real customer feedback to elevate user experience and set new industry standards. This agile approach ensures that VULTe is not only keeping pace with the global digital economy but is also leading the charge in Nigeria.”
It added that Polaris Bank equally recognises that MSMEs remain the backbone of Nigeria’s economy and has deliberately deployed digital solutions to empower this vital sector.
It stressed that in the second quarter of 2025, the bank launched a major funding initiative to empower professionals in the creative industry through strategic partnerships with Woodhall Capital (UK), the Lagos State Government, and the British Government.
The statement maintained that in the months that followed, the bank expanded its support to hundreds of small and medium enterprises across various sectors, with a strong focus on providing financing to women-owned and women-led businesses in education, fashion, and other key industries.
Receiving the awards on behalf of the Bank, Dele Adeyinka, Chief Digital Officer, Polaris Bank, described the recognition as an affirmation of Polaris Bank’s people-centred digital transformation journey.
Adeyinka said, “This award is a celebration of our customers, whose trust and engagement inspire every innovation we create. VULTe is more than a platform; it is a community of empowered users who bank, borrow, save, and grow with ease. Every update and every feature we roll out reflects our commitment to making banking smarter, simpler, and more inclusive for every Nigerian.”
Speaking on the double recognition, Kayode Lawal, Managing Director/Chief Executive Officer of Polaris Bank, dedicated the awards to the bank’s customers and employees.
Lawal said, “Winning the Digital Bank of the Year (for the fifth time) and Best Bank for MSMEs (for the fourth time) is both humbling and inspiring. It validates our belief that true innovation begins and ends with the customer. 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.”
He further assured that Polaris Bank will continue to invest in digital infrastructure, as it did recently with a seamless core banking application upgrade, enhance financial inclusion, and deliver consistent, integrated experiences across all customer channels.
The BAFI Awards is one of Nigeria’s most prestigious and credible platforms for recognising excellence in the financial services sector. Organised annually by BusinessDay Media, the awards celebrate outstanding performance, innovation, and leadership across banks, insurance firms, fintechs, and other financial institutions operating in Nigeria.
Polaris Bank’s recognition at the 2025 BusinessDay BAFI Awards, where it clinched both ‘Digital Bank of the Year’ and ‘Best Bank for Micro, Small and Medium Enterprises’, marks a significant affirmation of its sustained leadership in Nigeria’s rapidly evolving digital finance landscape. This is the fifth consecutive year the bank has won the Digital Bank award, cementing its reputation as a trailblazer in customer-focused innovation and financial technology.
