Polaris Bank Ltd.
Also a provider — view Polaris Bank Ltd.’s profile →“Can a resurrected Nigerian tier-II bank reinvent itself as a digital-first commercial bank across retail, SME, and government collections?”
Founded2018
HQLagos, Nigeria
IndustryBank / National
The story
Polaris Bank is a Tier II Nigerian commercial bank established by the Central Bank of Nigeria in 2018 to take over assets and select liabilities of the defunct Skye Bank. The bank has invested in a digital strategy anchored around its VULTe digital banking app, the *833# USSD smart code, and a suite of business solutions (Polaris Pay, Polaris Collect, Polaris Webpay). It is a market leader in revenue collection across 30+ Nigerian states.
Last 12 months
—
Product timeline
2018
Established by the Central Bank of Nigeria on September 21, 2018, following acquisition of assets and select liabilities of the defunct Skye Bank.· banking
2021
Launched VULTe, Polaris Bank's digital banking platform.· banking
Regulated entities
1
regulatory licence held by Polaris Bank Ltd.
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Polaris Bank Ltd.’s embedded-finance stack
Payments / PSP
Polaris Webpay (self-operated)Polaris Collect (self-operated)Polaris Pay (self-operated)Polaris Bank POS (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: none
30 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.