Ever heard of V digital bank app? In case you haven’t, this article is written for you.
The advent of the novel coronavirus has further pushed for a faster evolution towards a contactless economy. And a lot has happened in the digital world since the dreaded pandemic brought the world to its knees.
For example, Alibaba introduced a color QR code that can immediately indicate a person’s degree of exposure to the virus based on an individual’s reported health condition and travel history. Only those with a green QR are cleared to commute to their workplace or enter public buildings.
WeChat also developed an app that allows smartphone users to assess their risk of infection by checking whether they have come into contact with an infected person on a train or airplane. In some Chinese cities, passengers on subways were required to register under their real name or make a reservation in advance.
In the same vein, the banking industry isn’t left behind. Recently, the number of digital bank products that help limit person to person contact has been on a fast rise. Of course many people never really fancied the idea of going to physical banks to make money transactions. However, as the world continues to get plagued by the recent pandemic and the subsequent enactment of social distancing regulations, more and more people are now feeling reluctant to leave their homes. This has made it a lot easier to have a mobile app that can do it all.
Digital banking: Here’s the advantage
Digital banking offers convenience for both the banks and its customers. While customers can save time and hassle through convenient banking transactions that can be conducted on-the-go, banks save money on physical infrastructure and hiring costs by moving a part of their transactions online.
While in-branch banking continues to remain vital, the benefits of digital banking cannot be denied, which is probably why companies like VFD have invested hugely in digital infrastructure.
With the V-app, you don’t need to ever walk into the banking hall, except it is absolutely necessary. You can receive or send money without any hassles at any time of the day, as well as view and audit your entire transaction history.
How V-Digital Bank App has come to the rescue
The V digital bank software runs on the VFD microfinance bank network. VFD is a financial services company located in Lagos, operating in the banking microfinance market. And V appears to be the path the business uses to attract a far younger, banked audience.
While banks also have their mobile apps, much smaller firms floating theirs are giving users hope for much more personal experience.
This blog post will take you through some features of V Bank, the newest digital banking app for Nigerians.
How to register on V Bank Nigeria
It takes a bit less than 5 minutes to register on the V Bank platform. Quite fast, if compared to indigenous banks.
You will need the following details to register on the mobile app.
- Phone number
- Date of birth
- BVN number or any account number with another bank
- Email address
- Photo (for validation)
- Signature (for validation)
- 4 Digit Pin
Basic Product Features
Make transfers, Receive funds, Withdraw Money
You can make transfers via the V mobile app; transfers to your own account or transfers to third-parties. The app also has a function that enables you to generate a code to make card-less withdrawals on enabled ATMs is available in the app.
On the V Bank Nigeria app, you can create and save budgets every month. Budget cuts across different expense channels like food, work, family, shopping, lifestyle, utility, transport, and more. This can help to keep you in check while spending money from your account.
The app shows you analytics for the inflow and outflow on your account. This can be done for whatever period you set or want to analyze. Having these analytics helps you determine how much you spend versus how much you earn. Hence, helps users position themselves right based on the data.
You can pay for utilities, cable TV, internet services, travel and note, transport and toll, schools, betting and gaming, other random products and services from your mobile app. VFD have partnered with some merchants that make payment for their products easier. Examples are the United Cement Company of Nigeria, DHL, Lafarge Africa, and more. Airtime and data purchase can also be made from the app.
Recently, as a customer acquisition strategy, the app has resorted to giving (potential) customers cash prizes. Hence, users can jump on the trend to win some money for themselves in-app. Most of these giveaways require that you download and register on the V Bank Nigeria mobile app.
Share V Transaction Receipts On WhatsApp
With V, you can share your transactions from the app to WhatsApp. This comes in handy when you need to show transaction receipts to someone on your contact. You can also add notes, add your picture, add your location, and add transaction receipts.
V Bank Nigeria is looking to compete with the likes of Kudabank and Rubies bank as they offer almost the same product and services. At this time the value these goods provide would be what matters to end-users. Value in terms of distinct features, safety, etc.
So, have you made use of the V app or that of any other digital bank? If you have, what was your experience like? You can share your views with us in the comment section.