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V Bank upgrades app for efficiency, new offerings


Nigeria’s fully digital bank, V Bank, has upgraded its application in a bid to improve operational efficiency and offer new services to its customers.


The new app, version 3.0, boasts of features that include cardless withdrawals, multiple funds transfers, recurring transactions, proximity payments, advance budgeting and intelligent airtime top-up.

According to the financial institution, the new app will help users securely access their accounts to automate recurring bills, manage multiple cards from different banks, send and receive funds using a unique QR code, track expenses, generate virtual cards for online payments and enable/disable and change pins for physical cards, all within a sleek, responsive, easy-to-use interface. buy airtime and data, fix deposits, set targets and make free transfers.

Speaking at an online briefing, Senior Product Manager V Bank, Ebere Ahaotu, said “Virtual banking is all about supporting the needs of every user. We are committed to ensuring that all our customers find banking enjoyable and remain satisfied with the banking process thereby encouraging them to do more. That’s why it takes less than 2 minutes to set up an active bank account.”


Head of Engineering at VFD Tech, Osifo Anosike, added that “it was important for us to ensure that the app becomes even more convenient to use and that informed the design and features that we introduced or enhanced in this version. Building Version 3.0 was an opportunity to relearn what it takes to satisfy our users. We had a long list of requirements we wanted to work on but after collecting customer feedback over a couple of months, we were able to prioritize in such a way that the app delivers to the users what they truly need.”

Already, the digital bank has onboarded more than 250,000 individuals and businesses on its mobile banking platform across Nigeria and processed transactions worth billions.

“When we unveiled this product last March, we had no idea that the Covid-19 pandemic would sweep in greatly in Nigeria and that a great number of people would suddenly become more digitally reliant.

“We were simply being our innovative selves as a data-driven tech company with big dreams. And while it has been hard through the year 2020, our customers have made every single day of hard work worth it. We do hope that they find this version 3.0 truly useful and enjoyable,” said Azubike Emodi, Managing Director of VFD Microfinance Bank, owners of V Bank.


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