Smart Executives

What Differentiates ALAT from other Banking Apps – Dele Adeyinka, Chief Digital Officer, ALAT

In this chat with our editor, Dele Adeyinka, Chief Digital Officer, ALAT says that the digital platform is the only app where a customer can setup an account, upload documents, and  more without physical contact with a bank staff


What is ALAT? Is it a Wema Bank account or a digital banking licensed by the CBN?

ALAT is Nigeria’s first fully-digital bank. On ALAT, you can carry out all your banking transactions without stepping into a branch. Your branch is your mobile phone or any other device you use in having access to the Internet. ALAT is the digital platform of Wema Bank.

What differentiates ALAT from other banking apps, and why should I patronize ALAT instead of other apps?

ALAT is the only app where you can setup your account, upload your documents, and perfect your account without any contact with a bank staff. On ALAT, your journey starts and continues on the app. On other bank apps, for example, either you start your account opening from a branch or you complete it in a bank branch. You also have to go to a physical branch to drop your document, so much paper work, long queues etc. There are many reasons why you should patronize ALAT. They include but not limited to: easy signup without any paper work, you get to make a choice of debit card from three different designs without filling any forms, your debit card is issued to you free of charge.

ALAT delivers your debit card to you at any address of your choice, free. You can also activate the card in-app without having to use an ATM or PoS machine. You also control what channel (ATM, PoS or Web) and location (country) where your card can be used. ALAT also allows you setup any recurring payments so you can focus on the more important things in your life. When you setup a saving goal on ALAT, you earn 10% per annum. That’s the highest rate in the industry.

How do I open an ALAT account without visiting a banking hall?

To open an ALAT account you need your BVN and mobile number. Input your mobile number. You would have to provide BVN and date of birth for validation using a one-time password (OTP) sent to the mobile phone and email address attached to your BVN. Confirm the displayed details. Setup your login details. Your account is created. These steps take less than five minutes.

Need I provide my BVN to open an ALAT account?

Yes. BVN remains the cleanest central data in the banking industry.

What kind of account can a customer open on ALAT? Tier1? Tier 2? Savings or current?

Now, only savings account can be opened on ALAT. Subsequent releases will take care of other accounts type.

What documents do I need to open an ALAT account?

You need a means of identification, utility bill, your picture showing your, your signature, and resident permit (if you are a foreigner).

How do I fund a new ALAT account as a customer?

There are three accounts funding options on ALAT. If you operate a Wema Bank account, you can make direct debit from your ALAT app. You can fund your account using a debit card (MasterCard and Visa) issued by any bank in Nigeria. If you have any foreign bank card, you can also fund it.

How safe is ALAT and what should I do if I suspect unauthorized transactions on my account?

ALAT is very secured. We have our internal security checks, which ALAT passed. We have hired an independent security company to carry out independent security checks. We were certified good-to-go. We are not stopping there. We are regularly tightening our security to stay ahead. If you suspect anything on your ALAT account, please contact us immediately through 0700CALLALAT (070022552528), help@alat.ng . We are also available and active on social media.