Polaris Bank plans to leverage its investment in cutting-edge information technology to harness emerging opportunities and mitigate the disruptive effect of the COVID-19 pandemic on its business.
Against the backdrop of the impressive financials of the bank in 2019, the management of the bank said investment in technology infrastructure, comprehensive corporate transformation and a keen focus on customer experience would continue to give the bank comparative advantage in the Nigerian financial services sector.
According to him, while the Coronavirus pandemic would undoubtedly impact all economies and sectors, including Nigeria, Polaris Bank’s strong business focus, organisational efficiency, innovation and digitisation will provide the winning edge against the emerging disruptions. Speaking on the impact of COVID-19 on the economy, he noted that the COVID1-19 would adversely impact businesses both locally and globally, with credit quality being challenged, business market size already shrinking, and inflationary pressures mounting.
“Just look around you, is there any area of our lives that technology is not reshaping? Why should banking be an exception? More so, if you look at the nature of our business, it lends itself to digital adaptations more than other areas of our lives. The world is a global village; just look at what is happening elsewhere, and you know it is only a matter of when will it catch up with you and not if. So, it is not so much of what I believe, it’s where the world is evidently heading,” Abiru said.
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