Wema Bank Launches ALAT, First Nigerian 100% Digital Bank

WEMA Bank Plc has launched Nigeria’s first full digital banking service, named ‘ALAT’, which it says, signifies the beginning of a revolution in the banking industry; one where the needs of customers are met using technology to provide cheaper, faster and better services. At the moment, a large part of banks’ digital initiatives looks at delivering existing services cheaper, faster and better.

The Managing Director, Segun Oloketuyi stated: “There is a reason banks are closing branches. Apart from the difficult economic environment, customers are increasingly adopting digital options for their banking needs, hence a reduction in the number of people that visit physical branches. The pace at which things are changing in the digital world is rapid. Therefore, every forward-thinking brand is always looking to improve on their digital offerings. With ALAT, Wema Bank has offered Nigerians everywhere in the world a bank that is designed to meet their needs.”

ALAT by Wema has enjoyed good reception from the market since the beta launch some weeks ago. The new digital bank is expected to disrupt the banking landscape and is driven by three pillars – Convenience, Simplicity and Reliability.

With ALAT, account opening/sign-up can be done in five minutes from a mobile phone or personal computer. Holders of the account can also enjoy a simple automated savings plan that will see them earn 10 per cent annual interest – about three times the standard bank rate. Debit cards are delivered to an account holder’s address in two business days, anywhere in Nigeria, at no cost.

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