LOTUS Bank Shines at Global Retail Banking Innovation Awards 2024 and BAFI Awards

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

LOTUS Bank one of Nigeria’s fastest growing non-interest Bank has been awarded the Best Financial Inclusion Initiative and Debit Card of the Year at the Global Retail Banking Innovation Awards 2024 held in Singapore. Additionally, the bank has received the Ethical Banking Leadership Award of the Year at the BAFI Awards.

These accolades celebrate LOTUS Bank’s commitment to innovation in financial services and its dedication to ethical banking practices that prioritize the needs of all customers. LOTUS Bank true to its mission has 56 footprints all over Nigeria.

Mrs. Kafilat Araoye, the Managing Director, LOTUS Bank expressed pride in these achievements, stating, “We are honoured to receive these awards, which validate our efforts to make banking accessible for everyone. Our team’s dedication to developing products that cater to the needs of diverse communities drives our mission forward.”

“Winning the Ethical Leadership Award at the Businessday’s Banks and other Financial Institution Awards (BAFI) is particularly significant for us.

It underscores our commitment to transparency and integrity in all our operations. We believe that ethical banking is essential for sustainable growth, and we will continue to lead by example in the industry”, Araoye commented.

LOTUS Bank’s innovative approach to enhancing access to banking services for underserved communities were highlighted in the Best Financial Inclusion Initiative award.

The bank’s flagship debit card program has also been celebrated for its user-friendly features, aimed at empowering clients with greater control over their finances. It was the card used for onboarding athletes from all over Africa at the recent Federation of Africa students Games (FASU) and the Nigeria Medical Students Association Games (NIMSA) which LOTUS Bank sponsored recently, added Araoye.

LOTUS Bank is dedicated to fostering an inclusive financial ecosystem that aligns with its core values of integrity, innovation, and community empowerment. These recent accolades are a testament to the bank’s relentless pursuit of excellence and its commitment to making a positive impact in the financial sector.

About LOTUS Bank
LOTUS Bank is a prominent non-interest financial institution in Nigeria focused on providing innovative banking solutions that promote financial inclusion and ethical practices. With a strong commitment to serving diverse communities, LOTUS Bank aims to transform the banking experience for its clients and contribute to sustainable economic growth.

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Polaris Bank, Nigeria’s leading digital retail commercial bank, again at the weekend proved its digital dominance in the Nigerian banking industry, winning the most-coveted award as the best in digital banking and the entire ecosystem for micro, small and medium enterprises (MSMEs).

At the Banks and Other Financial Institutions Awards (BAFI Awards), financial industry’s prestigious awards, Polaris Bank’s trailblazing digital banking platform, VULTe was adjudged the best as “Digital Bank of the Year”, for the fourth consecutive year.

Polaris Bank was also awarded “Best Bank for MSMEs of the Year”, for the third consecutive year, underlining the bank’s well-known competitive lending and general supports for small businesses and the real sector.

With the weekend awards, Polaris Bank retains a pride of place as the only Nigerian bank to have won the coveted awards for that long, underscoring the bank’s continuous investments in human and technological resources.

The BAFI Awards Selection and Review Committee stated that Polaris Bank outperformed industry peers in all key metrics, including strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, platform functionality and security.

BAFI Awards is well-regarded for its empirical and data-driven selection process, a practice that makes the awards, one of the most prestigious independent awards for the Nigerian financial services industry.

Commenting on the award, Managing Directo/CEO, Polaris Bank, Mr. Kayode Lawal, said the continuing recognition of VULTe as best digital bank emphasises the user-friendly and multi-functional strengths of the digital platform.

He pointed out that Polaris Bank has seen tremendous market gain in digital transactions and lending with digital lending totaling more than N10 billion in the first eight months of this year, on course to surpass the N12.8 billion recorded for the whole of 2023.

He said the bank understands the importance of user-experience in online transactions and thus prioritises convenience and safety, with sustained investments in bespoke technologies.

“We are honoured to receive this prestigious award, recognising our commitment to the digital banking ecosystem. We understand clearly that this consecutive vote of confidence on our capability is a responsibility, and we are doing everything to remain on the cutting-edge of technology and services.

“We are sure ongoing strategic initiatives will not only sustain our leadership in digital banking and supports for real sector, but also deliver sustainable growth that will firmly entrench our digital leadership across the financial services industry,” Lawal said.

He commended the organisers of the BAFI Awards, BusinessDay, for their commitment to empirical process.

A full digital bank that provides fast, convenient, and reliable solutions to banking needs; some of VULTe’s unique features include: QR payments, end-to-end account opening, instant loan request, debit card request, issuance, and activation, without the customers leaving the comfort of their homes, offices or wherever they may be.

The platform does not just cater to Polaris Bank’s customers alone, but non-customers alike who can also download and enjoy banking services on VULTe. Another key feature is VULTe’s API Banking, which allows merchants and businesses to integrate VULTe with other business critical systems, enabling a portfolio of services including risk assessment, bank statement requests, lien accounts, direct debits and more.

With its all-in-one solution, VULTe not only caters to individual customers but also SMEs, high net worth and retail customers. It takes few minutes to access collateral-free personal and business loans that enables individuals and enterprises of customers.

AJAGBBE ADEYEMI TESLIM

SPONSORED BY: H&H

Ecobank Nigeria, a key member of the leading pan-African banking group Ecobank Group, has partnered with Opolo Global to deliver training and empowerment to schools in Lagos as part of its annual Ecobank Day activities.

Some members of staff of Ecobank Nigeria, Opolo Global (partner) and Children of Zion Stars School, Lagos during the training on Artificial Intelligence and Robotics as part of the commemoration of Ecobank Day 2024.

This flagship social initiative, spearheaded by the Ecobank Foundation, encourages employees to give back to their communities.

The 2024 event, themed “Ignite Learning with AI,” focused on foundational learning and harnessing Artificial Intelligence to improve children’s literacy, numeracy, and digital skills, particularly at Zion Star School in Lagos.Oluwafemi Ajayi, Head of Product Development and Lagos Operations at Opolo Global, praised Ecobank for its initiative to educate students about artificial intelligence and robotics, which are vital for the future.

He highlighted that this training equips children to navigate the digital age and underscores the transformative potential of AI in education, business efficiency, and decision-making.“We will expand this initiative to several schools across the state, especially those located far from the city center and serving a higher number of underprivileged students,” he stated.For Ecobank, “equipping Nigerian children with essential literacy, numeracy, and digital skills at an early age is crucial for their future.

It enables them to excel academically, prepares them for a rapidly changing digital landscape, and broadens their opportunities in life and employment.”“Ecobank Day activities involved our employees volunteering in various communities across Nigeria, offering literacy lessons, mentoring, and collaborating with schools to enhance digital resources.

We extend our gratitude to our partner, Opolo Global, for helping make this day impactful for Nigerian children,” they added.

These training and mentoring initiatives align with the second year of Ecobank’s three-year campaign, ‘Transforming Africa Through Education,’ and support the African Union’s declaration of 2024 as the Year of Education, themed ‘Educate and Skill Africa for the 21st Century,’ emphasizing the need to integrate technology into foundational education.Since its launch in 2013, Ecobank Day has initiated crucial interventions and supported various social causes, including education for youth in Africa, malaria prevention, improving ICT in schools, and promoting financial literacy, among others..