LONDON, July 04, 2018 (GLOBE NEWSWIRE) -- Wema Bank has become a groundbreaking leader in Nigeria’s financial landscape after pioneering the country’s first ever fully digital bank.
For its exceptional work in this area, Wema has been awarded the Most Innovative Bank in Africa, 2018 in the latest edition of the World Finance Banking Awards.
Wema is Nigeria’s oldest indigenous bank, but it has successfully evolved into an agile, modern financial institution, with its own fintech spin-off underway.
At the beginning of 2017, Nigeria was in the middle of a recession and faced crippling inflation. While most banks in the country looked to consolidate their positions, Wema decided to chase an opportunity: the digital banking market.
With mobile ownership on the rise in Nigeria, Wema assembled a first-rate team to tackle the market. ALAT was launched in May 2017. In the first six months of its unveiling, ALAT attracted more than 175,000 customers and collected over NGN1.1bn ($3m) in deposits.
Now, with the aim of simplifying banking for everyday Nigerians, Wema has started a far-reaching process of streamlining its banking services.
To find out more about how Wema hopes to transform the entirety of Nigerian banking, check out an exclusive article by Deputy Managing Director Ademola Adebise in the latest issue of World Finance, available in print, online and on tablet now.
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CONTACT INFORMATION
World Finance
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162
elizabeth.matsangou@wnmedia.com