In a significant move around June, Polaris Bank declared its commitment to a customer-centric approach as part of a comprehensive restructuring plan aimed at ensuring future success.
Adekunle Sonola, the bank’s Managing Director/Chief Executive Officer, shared insights into the financial institution’s journey and strategic plans as reported in Punch.
Despite these positive declarations, a wave of discontent surged among Polaris Bank customers mere hours before Christmas. Social media platforms became a sounding board for frustrations as customers took to Twitter to voice their concerns and dissatisfaction.
The frustration expressed by customers signals a shift in loyalty. Amidst complaints ranging from delayed transactions to technical glitches and unresponsive customer service, many disgruntled customers are openly considering exploring alternatives to Polaris Bank.
@OLATUNJI_jnr expressed frustration, stating, “@PolarisBankLtd wtf are you going exactly? You guys are the worst bank ever. Make una check your dm Abeg.”
@forestmakevelli sought resolution for a pending transaction, tweeting, “@PolarisBankLtd kindly look into this transaction because I’ve not received the credit alert since this morning.”
@temidebayo, annoyed by delayed transactions, appealed to the bank with urgency, saying, “@PolarisBankLtd so you guys want to eat chicken and meat for this festive period. But the person I sent money to should wait till 29 Dec before he can eat chicken or what are you telling me. Are you guys okay? Please, I need this money right away. Someone should check. 24h gone.”
@brainy85264815 highlighted the impact of technical issues, tweeting, “@PolarisBankLtd I am unable to log into my bank app for close to two weeks now, and I need to make important transactions with my money. This is the festive period, haba!”
Even Alexia Winter, with the username @AlexiaW12058089, voiced concerns over the bank’s USSD service, stating, “What’s wrong with your service on USSD @PolarisBankLtd? I have money I can’t spend.”
After conducting a comprehensive examination of the bank’s various social media channels, it is evident that customer satisfaction with all banking platforms is notably lacking. For the purpose of this news content, Readership NG has chosen to highlight a select number of complaints as indicative of this broader trend.
With public holidays creating a temporary respite, discontented customers are utilizing this time to assess and potentially initiate the process of transitioning to other banks.
According to Nairaland, persistent delays in salary disbursement to Polaris Bank account holders, including employees of the Lagos State Government, have caused significant distress among hardworking individuals reliant on timely payments. Compounding the issue, the erratic functionality of the Polaris Bank app has added frustration for users dependent on digital transactions
The Lagos State Government’s association with Polaris Bank inadvertently subjects its employees to the bank’s operational challenges, reflecting negatively on the institution’s reputation. Urgent corrective measures are urged to uphold ethical standards and ensure an efficient and reliable banking experience for customers, particularly those reliant on timely salary payments. Failure to address these concerns may lead to a loss of customer confidence, reminiscent of the fate of the former Skye Bank.
Despite being decorated as Nigeria’s Digital Bank of the Year for two consecutive years, Polaris Bank faces a stark contrast in customer sentiment, especially during this yuletide period. The juxtaposition of strategic promises and customer dissatisfaction underscores the challenges the bank is currently navigating on its path to redefining its banking experience.
As the public holidays wind down, the bank faces a critical juncture where its response and actions will play a pivotal role in determining whether these dissatisfied customers become permanent losses.
