VBank Rolls Out New Version 3.0 App With Innovative Features

VBank, Nigeria’s foremost fully digital bank unveiled new and better features of its app at an online press briefing held Thursday to kick off the financial year, as well as promote ease of use for its customers.

The new app, Version 3.0, boasts of exciting features including Cardless Withdrawals, Multiple Funds transfers, Recurring Transactions, Proximity Payments and Advance Budgeting.

The new VBank app will enable 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 spending, generate virtual cards for online payments, buy airtime and data, fix deposits and make free transfers, all within a sleek, responsive and easy-to-use interface.

Speaking at the press briefing, Senior Product Manager, VBank, Ebere Ahaotu, “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.”

According to Osifo Anosike, Head of Engineering at VFD Tech, “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.”

Launched March 8, 2020, the digital bank has onboarded more than 250,000 individuals and businesses on its mobile banking platform across Nigeria, and processed transactions worth billions. The all-digital platform is most accessed in cities including Lagos, Anambra, Port-Harcourt, Abuja and Asaba.

“When we unveiled this product last March, we had no idea that the Covid-19 pandemic would sweep in greatly in Nigeria and that 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 hope that with version 3.0 they would find the app, truly useful, intuitive and better suited to their banking needs,” said Azubike Emodi, Managing Director, VFD Microfinance Bank, owners of VBank.

Internet-based banking has been an option since the 1990s, but the COVID-19 lockdowns of 2020 have hastened the transition in unexpected ways.

As businesses adapt and a cultural shift takes place all around the world, Vbank takes its prideful place in the new world banking order, opening full-fledged bank accounts, verified via BVN, offering free transfers, and providing loans to service the small business community all from the comfort of their homes.

VBank has been at the forefront of innovations in the banking industry, through its customer-led and industry-driven initiatives.