After the Nigerian civil service, the Nigerian banking sector comes in at a close second as the most frustrating place to carry out activities. The manner in which basic tasks are sometimes complicated is quite amazing actually.
Even after the Bank Verification Number (BVN) allocation exercise, one would think that should serve as an alternative to opening accounts since documents required are same all over but no! You provide same set of documents countless times even if the account being opened is within the same bank. Hopefully, fintech companies force them to be innovative or stand to lose their customer base.
In the meantime, WEMA Bank seems to be taking an initiative by launching “ALAT“. ALAT is Nigeria’s first fully functional digital bank. With ALAT, you have no need to be within the walls of any bank as all banking transactions can be done wherever you find yourself.
All banking services are available to you anywhere you can access the internet. From the opening of the account to whatever activity a bank provides.
ALAT is not just another banking app offering a few select services but is pretty much the whole banking experience on mobile. Opening an account, bank statements, document submission and even basic customer support can be done via the platform.
It will save you time with a simple account opening process that takes less than five minutes, help you put money away easily by automating your saving, make sure your bills are paid on time with its scheduled payments feature and deliver a free debit card you can activate, lock and unlock from your phone to you anywhere in Nigeria.
You can use ALAT on iOS and Android devices. Windows users will have to settle for the web version.
If you think these features and the convenience are enough to open a new bank account, why not go ahead. If you’ve used the platform already, do let us know your thoughts in the comments.