ALAT by Wema launches quick loans and virtual dollar card

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Wednesday March 07, 2018 / 3:02 PM / Wema Bank

ALAT, Nigeria’s only fully digital bank, has released two exciting new features: fast short-term loans and a virtual dollar card to pay internationally online.


ALAT Loans are accessible to all ALAT customers via the bank’s Android and iOS applications.


The ALAT Virtual Dollar Card is a non-physical, dollar denominated debit card designed for online payments. Like ALAT Prêts, the card is accessible to all of the bank’s customers via its applications.


Additionally, bank customers can now connect other Nigerian bank accounts to their ALAT profile on the app. This makes money transfers much easier for people who use multiple bank accounts.


This feature is one of the many ways that ALAT users can fund their account. Other means are by local and international bank cards, and by bank transfer.

Get money in 1 hour or less

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


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 of February 2018.


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


ALAT is powered by Wema Bank, Nigeria’s first and oldest truly indigenous bank.


The future of banking is digital, and Wema Bank supports this belief by abandoning corporate dogma and taking proactive steps to bring tomorrow’s banking services to today’s customers.


Beyond ALAT, the bank continues to champion innovation and leverage technology to break down the barriers that plague conventional banks. He pioneered the use of card control in Nigeria, an in-app tool that allows customers to lock their payment cards from a mobile device. She was also one of the pilot banks to successfully deploy M-cash, a mobile service that allows merchants to receive payments by simply dialing a code. The Bank continues to improve its banking service * 945 # USSD and improve its online and mobile banking applications to ensure that it offers transparent service across all of its banking channels.


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