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Wednesday, December 1, 2021

The Bank of the future: Powered by ALAT

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When banking services were predetermined – based on capital adequacy, branch network, products and rates – one bank, driven to define banking for itself, chose a life of speed, access, partnership and trust for its consumers.

Banking at the speed of thought and desire had never been impossible; we were just told that it was. So, Wema Bank Plc took matters into its own hands and led the ‘bank of the future’ movement in Africa by creating Africa’s first fully digital bank, ALAT by Wema. This singular move was the first of its kind in Africa. ALAT broke barriers and gave a foretaste of what’s possible by recently launching a new TV advert titled ‘The Bank of the Future’

The disruption in banking and digital services gained momentum with a straightforward hypothesis: Banking is no longer somewhere you go but something you do.

The 1 minute, 42 seconds advert opens with a question, “ever wondered how easy it will be if your bank was part of your life, sort of like an assistant, a buddy and a plug?” Then we see a business owner starting his day with a video call to a partner while working on a virtual projection. The business owner ends the call and prompts ALAT, his financial buddy who gives him an update of his most recent transactions and notifies him of a pending grocery list. Together, they go off to the mall while engaging in friendly, yet witty conversation on their way. It closes with ALAT telling the entrepreneur to get ready for his date and a message, “Welcome to the future of banking.”

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Since its inception, ALAT by Wema has shown that the future of banking will hinge on the degree to which banks leverage the unique opportunities they have, how well they use the wealth of information at their disposal, the extent to which they capitalize on the insights they hold, the innovation that they can birth, and the extent to which their strategy, processes and activities revolve around consumer’s everyday life.

Consumer-centricity has played a critical role in ALAT by Wema’s success. An obsession with the customer, completely immersing itself in the customer’s problems and thinking about the customer from start to finish has been integral to their processes. In a nutshell, everything you go through when trying to use the ALAT app is about you.

This is big news for you, especially when your habits and preferences are quickly adjusting to a world where speed, efficiency and multiplicity will be the new normal. You want a bank that provides the solutions to your problems and answers to your questions instantaneously on your mobile device. You want financial information and the ability to transact at the push of a button.

This is what ALAT by Wema represents. A bank that doesn’t just take money from you but partners with you to grow your money like it’s doing with the ongoing ‘earn from home’ scheme. A bank you can access at the speed of choice and empowers you to bank on your own terms. A bank that understands you, your uniqueness, your preferences, your prejudices and individual expressions.

A soft soundtrack which resonates throughout the advert , this provides a futuristic feel, symbolizing that in tomorrow’s world, banking will be much more than financial transactions, it will become a lifestyle – powered by ALAT.

The rally ahead is waiting. And ALAT by Wema has proven itself to have the drive. Do you have the drive inside of you? There is only one way to find out. Hop in and move with them. ALAT is just getting started and will keep pushing harder and faster into the future.


Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.


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