VBank, the mobile banking app of VFD Microfinance Bank, has been among the top trending topics on Twitter all weekend. This is due to the various testimonials that users have shared about the app, as well as a series of marketing campaigns for which the company have enlisted the services of popular celebrities like Donjazzy.
A few days ago, one excited user tweeted that she had just started using the VBank app and that she is certainly not going to regret doing so. In other words, setting up her VFD Microfinance Bank account is definitely one of the best decisions she has made thus far in 2020. Some of her followers agreed, as you can see below.
Me too just to discover the savings last until next year 2021. Chai
— OG Khalifa? (@Obagee3) April 22, 2020
Popular music producer and founder of Mavin Records (Donjazzy) has also tweeted so much about VBank in recent days. The man had also been busy crediting the accounts of some lucky VBank mobile app users. Recently, he transferred the sum of N100,000 to a young lady who said she is using VBank to save in order to support her boyfriend’s M.Sc programme.
— ITS DONJAZZY AGAIN? (@DONJAZZY) April 24, 2020
Recall that Nairametrics had previously written about the VBank mobile app. In late February 2020, our Founder (Ugodre Obi-Chukwu) recounted how he got introduced to the app by his friend and CEO of VFD Group, Nonso Okpala. If you missed that story, you may read it up right here.
VFD Microfinance Bank unveiled the VBank product earlier this year, with the intention of making it Nigeria’s first truly virtual bank. As Nairametrics noted in an earlier report, VBank is a fully digital one-stop platform that offers a unique banking experience. The target audiences include both Nigerians who are already using banking services and those who are currently unbanked.
Why this matters: Small challenger banks like VFD Microfinance Bank have recently been disrupting the Nigerian banking industry, offering customers varied options of products and services to choose from. The growing competition that has resulted from this is expected to encourage all the players (both the traditional banks and new entrants) to continually improve on their offerings in order to attract new customers and retain old ones.