Network Int’l, Polaris Bank Renew Partnership to Deepen Financial Inclusion, Digital Transformation
Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has renewed its partnership with one of Nigeria’s largest financial service providers, Polaris Bank Limited, to deepen financial inclusion and digital transformation.
The partnership is anchored on the provision of payments processing solutions and API gateway services which supports the Bank’s goal of offering self-service/digital channels that bring banking services closer to its current customers and prospects.
The collaboration with Network enables Polaris Bank to provide low-cost digital solutions on a secured platform, making customer acquisition and digital onboarding seamless. The strategic partnership agreement covers multiple product lines that will have a major impact on business generated by cards and other modes of digital payment, while also enabling financial inclusion and allowing the Bank to offer premium payment solutions to its customers.
Polaris Bank will benefit from Network’s years of experience and expertise in comprehensive payment solutions for the African market, empowering the Bank with a future-ready micro-services architecture that allows for seamless integration to any number of advanced implementations, ensuring the maximum potential for creative revenue streams for the next decade.
Polaris Bank Limited is a Nigerian Private Limited Liability Company wholly owned by Strategic Capital Investment Limited (SCIL). It has a footprint of over 224 branches and cash centers across Nigeria and a robust Digital Banking platform powered by the award-winning VULTe digital solutions. Polaris Bank is redefining banking products and services that meet the needs of individuals and businesses. The Bank was adjudged Digital Bank of the Year in 2021 and 2022 in Nigeria at the BusinessDay Banks and other Financial Institutions (BAFI) Awards.
Speaking on the Partnership, Mr. Adekunle Sonola, Managing Director/CEO of Polaris Bank, said: “Polaris Bank is geared towards growth in retail banking, and will achieve its aspirations with a trusted and reliable partner like Network International. Providing excellent customer services is a top priority for us across all digital platforms, and this will only be possible with the support from partners that share the same vision and goals as the Bank.”
In his own reaction on the collaboration between the two Institutions, Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International, commented: “We are equally excited to renew our partnership with Polaris Bank. Network International is well-positioned to offer innovative products and services to our clients, and this is a partnership that has been built to last. We are committed to investing in local resources to ensure that we are agile in offering and delivering the best to our customers.”