ALAT By Wema has won the overall best mobile app

ALAT By Wema, the country of Nigeria’s first totally digital bank, won the title of Overall Best Mobile App at the Nigerian FinTech Awards 2022, topping the other FinTech apps that were also nominated in the same category on the platform’s selection. The news was made on Friday, November 4, 2022, at the award event in Lagos.

Fintech Africa, one of Africa’s oldest and most renowned journals on financial technology, launched the Nigerian Fintech Awards, now in its tenth year, to recognize excellence in financial technology product designs and service delivery. The winners recognized ALAT For Wema’s contribution to the Fintech industry by awarding it the title of Overall Best Mobile App, according to the organizers.

ALAT Wema Bank Plc, the nation’s oldest indigenous commercial bank, launched By Wema, the country’s first wholly digital bank, in May 2017 with the goal of transforming and redefining experiential banking in Nigeria’s banking industry. More than 250,000 new consumers joined ALAT by Wema in its first year, accounting for deposits totaling more than NGN 1.6 billion ($4.48 million). The bank’s savings account deposits reached N1 billion ($2.78 million) by the end of 2018.

Olusegun Adeniyi, the chief digital officer of Wema Bank, expressed his happiness at receiving the prize and claimed that it was only the cherry on top of the transformation that ALAT By Wema has brought about in the Nigerian banking sector.

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“We are delighted at being named the Overall Best Mobile App by the august platform, which is dedicated to honoring excellence in financial technologies and services companies and products. The award is complimentary to the excitement that the multi-award-winning app has brought to its numerous individual and corporate subscribers.”

He stated that ALAT By Wema, which adapts to its clients’ lives, encourages its users to save more by providing access to the private group and individual savings, free debit cards, and savings rates of up to 4% annually.

Adeniyi claimed that since its debut in May 2017, ALAT By Wema, the branchless and paperless bank, has lessened the burden associated with having to visit a branch in order to open an account by offering a simple sign-up process utilizing a smartphone, computer, or tablet. Unlike other banking apps, the ALAT By Wema app offers every banking service a customer may desire.

“All banking apps only offer some banking services, typically airtime purchases, bill payments, and transfers. For example, even with a banking app, customers usually still need to go to a physical bank to get a debit card and activate it, submit documents, and often, get some kind of customer support. This is not the case with ALAT, which was built from scratch to be entirely digital, making all banking services available to the customers anywhere they can access the internet.”