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Wema Bank to deepen retail banking footprint with new ALAT

By Babajide Komolafe

WEMA Bank Plc  is set to unveil an improved version of its fully digital bank, ALAT, as part of efforts to deepen its footprint in the retail banking space.

Managing Director/Chief Executive, Wema Bank, Mr. Ademola Adebise disclosed this at a media parley, stressing that the improved ALAT is part of the bank’s retail strategy to double its key performance indices by 2020.

Adebise said: “We are going to leverage technology as much as possible. You know about the fully digital bank that we launched, ALAT, two years ago, and it is doing very well. “What we are doing now is that we are reviewing ALAT to take it to the next level.

“That is to take it to a platform where we will be appealing to lifestyles. This is because we have a lot of value creators, value consumers, buyers and sellers on the platform.

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“At the end of the day, it is to reduce the cost of doing business and of course to improve our top line.”

He added that the bank would also focus on some key sector including downstream oil and gas, specific agriculture value chain, and the small and medium enterprises (SMEs) space.

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