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Wema’s ‘ALAT’ Launches Quick Loans, Virtual Dollar Card

Wema Bank Plc, through its ‘ALAT,’ a fully digital bank, has released two new features -quick short-term loans and a virtual dollar card for paying online internationally.

ALAT Loans are accessible to all ALAT customers through the bank’s Android and iOS apps.

A statement from the bank yesterday described the the ALAT Virtual dollar card as a non-physical, dollar-denominated debit card designed for online payments.

“Like ALAT Loans, the card is available to all the bank’s customers through its apps. In addition, customers of the bank can now connect other Nigerian bank accounts to their ALAT profile on the app.

“This makes moving money around a lot easier for people who use multiple bank accounts. The feature is one of several ways ALAT users can fund their account. Other ways are through local and international bank cards, and by transfer,” the bank explained.

Speaking on the launch of the new features, the bank’s Chief Digital Officer, Mr. Dele Adeyinka expressed his team’s passion to make banking even easier for everyday people. “A bank should do more than just keep money safe. That’s the bare minimum. The way we see things at ALAT, that bare minimum is no longer acceptable. We believe that these new features will further show the world that banking can and should be relevant to people’s lifestyles,” he said.

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According to the bank, its ALAT, has been well-received since its launch in May 2017, with over 200,000 accounts opened and over 1.1 billion naira in deposits as at February 2018.

ALAT is a branchless, paperless bank which provides financial services through its Android, iOS and web applications. It was designed in response to the growing needs of Nigerians for a financial institution that understands their needs, responds quickly to them and helps them save money.

ALAT is powered by Wema Bank, the first and longest-serving truly indigenous Nigerian bank.

“The future of banking is digital, and Wema Bank is backing this belief by ditching the corporate dogma and taking proactive steps towards bringing tomorrow’s banking to the today’s customers,” it added.

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