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ALAT Wema launches quick loans and virtual dollar card

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ALAT, a WEMA bank fully digital bank, has released two new features: quick short-term loans and a virtual dollar card.While the ALAT loans are accessible to all ALAT customers through the bank’s Android and iOS apps, the Virtual Dollar Card is a non-physical dollar-denominated debit card designed for online payments internationally. The card is also available to all the bank’s customers through the bank’s apps.

As stated by a release sent to The Guardian, WEMA bank customers with ALAT account can through their ALAT profile connect to their other Nigerian bank accounts, adding that this makes moving money around easier for people with multiple bank accounts.

Speaking on the launch, the bank’s Chief Digital Officer, Mr. Dele Adeyinka, said: “A bank should do more than just keep money safe, which is the bare minimum. The way we see things at ALAT, that bare minimum is no longer acceptable. We believe that these new features will further show the world that banking can and should be relevant to people’s lifestyles.”

Explaining further on the features, the bank’s Brand and Marketing Communications Manager, Funmilayo Falola disclosed that ALAT is a branchless, paperless bank, which provides financial services through Android, iOS and web applications.

As stated by her, the medium was designed in response to the growing needs of Nigerians for a financial institution that understands their needs, responds quickly to them and helps them save money, adding that WEMA bank will not stop to leverage technology in breaking barriers plaguing conventional banking.As stated by the release, since the launch of ALAT in May 2017, the bank has recorded over 200,000 accounts opened and over N1.1 billion in deposits as at February 2018.

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