VULTe
“Can an incumbent Nigerian commercial bank defend its retail base by shipping a competitive digital-native product?”
Founded2020
HQLagos, Nigeria
IndustryFintech / Neobank
The story
VULTe is a digital banking product launched by Polaris Bank Limited, a Nigerian commercial bank licensed by the Central Bank of Nigeria. It is not a standalone fintech but a digital channel of an incumbent bank, positioning Polaris in the Nigerian neobank competitive set. Because it sits inside a chartered bank, the underlying infrastructure is Polaris's own core banking rather than a third-party BaaS provider.
Last 12 months
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Product timeline
2020
Polaris Bank launches VULTe, a digital bank, at a ceremony in Eko Hotel, Lagos.· banking
2022
Polaris Bank acquired by Strategic Capital Investment Limited.· acquisition
Regulated entities
1
regulatory licence held by VULTe
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in VULTe’s embedded-finance stack
Banking / BaaS
Accounting gap: none