Nigeria’s first fully digital bank, ALAT by Wema has announced the addition of new features to the latest version of its mobile app. One of these features, named ALAT Loans, allows every Nigerian to apply for quick loans up to ₦200,000 within ten minutes.
What is more interesting is the duration between time of loan request and approval. The digital bank has confirmed that this will take only 10 minutes without any physical visit to the bank, collateral or paperwork.
Speaking on the emergence of ALAT Loans, Head of Commercials, ALAT, Bimbo Agbejule explained the importance of the feature for daily living.
“It’s almost impossible for one to go through life or business without the requirement of a loan, whether long or short term. This insight has given birth to ALAT Loans which we have tweaked to fit the average Nigerian, considering his daily needs ranging from payment of house rents or tuition fees to raising capital for a new brick and mortar store and daily emergencies”, she said.
Recently recognized globally at the Prestigious World Finance Digital Banking Awards as the “Best Digital Bank for 2017” and “Best Mobile banking App”, ALAT is properly positioned as a bank aware of the fast paced world of its customers and is continually devising means to solve everyday problems with technology.