Wema Bank Launches Nigeria’s First Digital Banking Service


Nigeria’s WEMA Bank Plc has launched a digital app called Alat, which is set to transform its entire banking activities into a full digital bank that will meet the needs of tech savvy customers and the millennials.

According to the bank, the app first full digital banking service 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.

With Alat, account opening/sign-up can be done in five minutes from a mobile phone or personal computer. Account holders also enjoy a simple automated saving plan that will see them earn 10% annual interest that is 3times the standard bank rate. Debit cards are delivered to account holder’s address in 2 business days, anywhere in Nigeria, at no cost.

Holders of ALAT accountcan also enjoy a simple automated savings plan that will see them earn 10 per cent annual interest – about three times the standard bank rate. They can also schedule frequent transfers (e.g salaries or mumsi’s stipend) and bills (e.g DSTV subscription) and forget about them.

With ALAT, Wema Bank has offered Nigerians everywhere in the world a bank that is designed to meet their needs. The new digital bank is expected to disrupt the banking landscape and is driven by three pillars – Convenience, Simplicity and Reliability.

The app is available for Android and iPhone users.