Business

Inside Sources Reveal True Situation at Polaris Bank Limited, Clarify Falsehood and Media Attacks against Bank

Published

2 years ago

April 30, 2023

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Sources within Polaris Bank Limited have revealed the true situation in the financial institution that a section of the media has falsely spun around.

According to the sources, there is no such thing as a controversy trailing the Bank, as the reaction within the financial institution stems from some staff’s inability to understand and accept positive and productive changes in the Bank’s operation.
Speaking exclusively with this medium, one of the sources who pleaded anonymity noted that when the new investors acquired Polaris Bank Limited, they set new goals and objectives to drive it to a greater height.

He added that strategies put in place to achieve these set targets are what some of the Bank’s staff are kicking against because it’s a change from the status quo.

“As you know, there are some basic things when a new owner acquires a business, be it a bank or whatever, he examines the profit and loss channels associated with such company and tries to promote the successful sides while eliminating the negative sides. It is all in a bid to boost profitability.

“In the case of Polaris Bank, what has happened is simple, the new owners want to avoid a run-of-the-mill approach to managing the Bank because they have seen where such leads. They have brought in their wealth of experience and are plucking the worms that are feeding fat on the Bank so that it can become a profitable entity; this is what is leading to the hues and cries you are hearing from some aggrieved staff of the Bank who are now doing their banking on social media pages.

“Polaris Bank operates with the best standard and corporate governance you could imagine.

” change and Innovation are often frowned upon, but the truth is that Polaris Bank is witnessing its best years in a very long time with this new management, they are trying and will do better. It is those who have been exploiting the Bank and have now found out that their channels of exploitation are being threatened that are causing trouble where there is none,” the source noted.

Another source within the Bank who gave his name as Tosin Mohammed (Not his Real Name) noted that it is a shame that people considered enlightened and exposed would feign ignorance of the situation they know about.

According to him, some of the Bank’s staff obtained loans and have refused to serve them because of the Bank’s magnanimity. Attempts by the Bank to recoup these monies have seen them shouting blue murder. Indeed, some staff have sorted their case out while others are genuinely working on recovering the loans. Of course, some weak minded staff resorted to sponsoring social media stories to bend the hand of the management of the bank.

“Talks that individuals and enterprises are taking their money away from the Bank to other banks is a big lie, as Polaris Bank is in the best condition it has ever been in a long while,” Mohammed concluded.

In October 2022, the Central Bank of Nigeria (CBN) sold Polaris Bank to Strategic Capital Investment Limited (SCIL).

On the accusations of staff accrued Uber expenses being taken at once by the new management, a source privy to the inner workings disclosed that Audit revealed an abuse of the process where some Managers were using Uber on public holidays and unauthorized hours.

On late meetings, the source explained that although there are frequent meetings but not late meetings. ‘”Of course, what do you expect when new management comes on board, you expect Strategy sessions, meetings, retreats, Monthly and Quarterly reviews to discuss vision, business plans, and performance.” It is nothing new, he averred.

The source further explained that most of the unfounded negatives pushed around against the Bank are likely from staff currently being investigated for various infractions and being questioned.

“What of some staff who actually colluded with customers to avail loans only to abscond to foreign countries”. He concluded that there is a new order trying to put things right for the good of the Bank.

Since the constitution of the Bank’s new board, Polaris has hit the ground running, enthroning a new work culture and improving its earnings. It has also been celebrated with several awards, including the ‘MSME Bank of the Year 2022’ in the BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards, Best Digital Bank: VULTe by Nigeria Fintech Award, and African Digital Bank of the Year presented by African Leadership Award.

Business

Zenith Bank Says It Now Has best IT infrastructure After Successful Upgrade, Commends Customers

Published

2 days ago

November 6, 2024

august24admin

Zenith Bank Says It Now Has best IT infrastructure After Successful Upgrade, Commends Customers

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer experience and superior service delivery moving forward.

This upgrade follows a recent comprehensive technology enhancement.

The bank expressed its heartfelt gratitude to customers for their support and patience throughout the upgrade process, while also extending apologies for any inconveniences experienced during this time.

This announcement was made in a social media post on Wednesday, signed by Dame Dr. Adaora Umeoji, OON, the Group Managing Director/CEO.

In her message, the GMD/CEO emphasized the bank’s commitment to delivering an unparalleled service experience, stating, “We undertook this upgrade to ensure we can offer our customers the best possible service.”

Umeoji pledged that Zenith Bank will continue to innovate, ensuring that customer needs are met swiftly, safely, and conveniently.

The post read in part: “On behalf of the Board, Management, and Staff of Zenith Bank PLC, I would like to thank you for your patience and support during our IT infrastructure migration to a new and more robust operating system.

“We are truly grateful for the trust and confidence you have placed in us. The primary reason for undertaking this extensive endeavor was to better position Zenith Bank PLC for improved service delivery to all our valued customers and to create memorable banking experiences at all our touchpoints.

“While I regret the inconveniences and challenges you faced during and immediately after our migration, I am pleased to inform you that Zenith Bank PLC now has the best technology infrastructure in the industry. We are committed to ensuring you experience superior service delivery going forward.

“Rest assured, you remain our top priority, and Zenith Bank will continue to innovate and offer value-added products and services to meet all your banking needs quickly, safely, and conveniently.”

Business

Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

Published

3 days ago

November 5, 2024

august24admin

Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Polaris Bank’s commitment to digital innovation and excellence has once again been recognized, as the Bank was awarded the prestigious “Best Mobile App” award for its renowned digital banking platform, VULTe, at the Digital Jurist Awards held October 31 at Eko Hotel in Victoria Island, Lagos.

This honor comes less than a week after Polaris Bank was named Nigeria’s Digital Bank of the Year for the fourth consecutive year, further solidifying its status as a leader in Nigeria’s digital banking landscape.

At the event, attended by representatives from all nominated companies, Polaris Bank’s VULTe app stood out among its peers, winning the hearts of users and the recognition of industry experts.

The Digital Jurist Awards Committee had nominated Polaris Bank in three categories: Best Website, Best Web Portal, and Best Mobile App.

The Bank’s innovative approach and customer-centric digital solutions have made it a formidable contender in each category, with VULTe’s win affirming the Bank’s continued drive to redefine digital banking in Nigeria.

Commenting on the the award, Polaris Bank’s Managing Director/CEO, Kayode Lawal expressed gratitude for the recognition and reiterated the Bank’s commitment to providing seamless, reliable, and secure digital solutions.

“This award continuously shows our dedication to delivering the best digital experiences to our customers. We will continue to push the boundaries of innovation to ensure that our platforms remain intuitive, accessible, and impactful,” he said.

Polaris Bank’s VULTe app has gained widespread acclaim for its user-friendly design, robust security features, and diverse functionalities, enabling customers to manage their banking needs from the comfort of their devices.

Winning the “Best Mobile App” award is yet another milestone in the Bank’s digital journey, reinforcing its position as a digital pioneer in Nigeria’s banking sector.

The Bank extends its gratitude to the Digital Jurist Awards Committee and its loyal customers for their continued trust and support.

Polaris Bank is committed to advancing digital banking in Nigeria, creating convenient, modern, and secure solutions that cater to the evolving needs of its customers.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2024,2023, 2022 and 2021 and MSME Bank of the Year 2022, 2023 and 2024 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.

Business

Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards

Published

3 days ago

November 5, 2024

august24admin

Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank PLC has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.).

L-R: Adebowale Shonekan, Head, Network Communications (Group & Subsidiaries), Access Bank Plc; Chukwudi Amadi, Team Lead, Digital Communications, Access Holdings Plc; Ezinne Nwene, Team Member, Digital Communications, Access Holdings Plc, receiving the Best Digital Commercial Bank award from Abbas Babagana, Chief Technical Officer, Federal Ministry of Communications & Digital Economy at the Digital Jurist Awards held in Lagos… recently.

In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience. Access Bank’s cumulative score of 380 points reflects its excellence across digital touchpoints, including its website, web portal, mobile app, and social media.Commenting on the recognition, Amaechi Okobi, Chief Communications Officer of Access Holdings PLC, said, “We are honoured to receive the Best Digital and Best Website Awards at this year’s Digital Jurist Awards.

At Access, our focus on digital innovation is driven by our commitment to deliver seamless, secure, and customer-centric solutions across all touchpoints.

This recognition validates our ongoing efforts to enhance our digital platforms, making financial services more accessible and efficient for our customers.

We thank Phillips Consulting for recognising our efforts and will continue to raise the bar in digital excellence.”Phillips Consulting has long served as a development partner to Nigerian financial institutions and other organisations with an online presence.

Leveraging its proprietary Digital Jurist platform, the firm has conducted assessments of digital touchpoints in various sectors, from financial services and insurance to telecommunications and government agencies, over the past 17 years.

Originally established as Web Jurist®, the platform was reimagined as Digital Jurist to assess new and diversified digital channels in the evolving digital economy. Digital Jurist’s evaluation framework examines a range of factors, including user experience, accessibility, performance, functionality, security, customer service, support, marketing, and content engagement across digital platforms.

These awards reinforce Access Bank’s leadership in digital banking, adding to recent accolades including 2024 Best Digital Bank and Best Mobile Banking App by World Finance, Best Mobile Banking App and Best Digital Bank by The Digital Banker Awards, and Best Digital Banking Initiative at the Global Retail Banking Innovation Awards 2024.