Polaris Bank has announced the launch of a new reward: ‘Refer & Win’ exercise in which existing and new users of the Bank’s digital banking platform, VULTe, stand a chance to win up to N1,300 instant cash reward each time they refer someone who opens an account and enrolls on the newly-launched innovative digital solution.

To benefit from the reward initiative, all a referrer (who could be an existing customer or non-customer of the Bank) needs do, is to refer a new user to open a Polaris Bank account by enrolling on the VULTe digital bank platform, while for every referral completed, both the referrer and referred’s account will be credited with N300 and N200 respectively, instantly.

Speaking on the new reward initiative, Polaris Bank’s Managing Director/CEO, Innocent Ike, said the Referral Campaign is aimed at positioning VULTe as a unique digital solution to reward both the existing and new customers of the Bank.

‘‘VULTe stands out as a very unique innovative digital bank platform in many respects. It not only provides users unique offerings as a self-service solution, it also offers convenience, speed and reliability on the go. The Referral Campaign aligns with our Bank’s commitment to provide new experience and easier accessibility to banking services for all customers, and to reward them for their continued loyalty,’’ he said.

While encouraging existing and new customers to take advantage of the ‘Refer & Win’ exercise to increase their savings and earn extra money, the Polaris CEO added that the campaign is a season of reward for staff, customers and non-customers of the Bank once their referrers successfully enroll on the Polaris Bank’s VULTe platform.

Polaris Bank’s Chief Digital Officer, Dele Adeyinka, while explaining the mechanics for participating in the reward exercise, disclosed that participants are required to enroll, fetch their referral code from VULTe and share with prospects.

‘‘The referral code is the indicator to the individual that introduced the Application to the new user. This, will also be used, in aggregating the total payout due to the referrer,’’ he said.

Mr Adeyinka added that the participants will only qualify for rewards, after the referred have successfully set up an account on VULTe.

The campaign, he explained further, is split into two reward categories, and a referrer will be paid for referring users based on the account level/referred customer category.