Lately, Wema Bank has been in a deep romance with the Presidency. The bank has been up to a lot of juicy activities to better the lot of its customers. Wema Bank plc, is Nigeria’s longest surviving indigenous bank.
The bank was established on May 2, 1945, as a private limited liability company (under the old name of Agbonmagbe Bank Limited). The bank was founded on May 2, 1945 as Agbonmagbe Bank by the Late Chief Mathew Adekoya Okupe.
History has been so kind to the conglomerate, so much that the name ‘Agbonmagbe Bank Limited’, being its first christening name, has been true to its undying nature. Thus, surviving many of its contemporaries in the sector.
From a small organisation known as Agbonmagbe Bank Limited way back in 1945 – the same year the Second World War ended, we transformed into Wema Bank PLC and kickstarted a new phase in our rise to prominence.
The bank’s current financial performance can be attributed to increased customer satisfaction that the bank delivers through its investment in technology.
“Our bank, over the last decade and especially since the creation of our digital banking platform ALAT, has started a transformation journey building on a strong technology and data analytics capability foundation to offer seamless and exceptional customer service across multiple channels to customers spread across Nigeria”, Moruf Oseni, the managing director/chief executive officer once said.
The impact of Wema Bank’s financial performance over the last few quarters has been overwhelming. Stakeholders believe that this growth trajectory will be sustained and improved over the short- and medium-term horizons.
Wema Bank’s investment in technology is predicated on the bank’s focus on customer satisfaction as its major objective. This led to the customer-centric operational changes introduced by the bank in recent years. In line with the bank’s corporate value, Wema Bank thinks of great and exciting ideas to solve problems that its customers care about.
It designs solutions that inspire joy and use cutting-edge technology, new developments and research-driven ideas to provide accessible solutions. This value led the bank to the adoption of digital technology which saw the launch of a revolutionary Wema Bank product, ALAT by Wema, Nigeria’s first fully digital bank, in 2017.
Recently, the office of the Vice President in partnership with WEMA Bank concluded arrangements to commence an initiative that will impact two million youth and one million Micro, Small and Medium Enterprises (MSMEs) across the country.
This is in furtherance to its pledge to support the job creation agenda of the Tinubu administration,
Vice President Kashim Shettima who received an update report on the programme on Monday during a courtesy visit by the Managing Director of WEMA Bank, Moruf Oseni, lauded the commitment and partnership of the bank for the initiative.
The delegation was at the Villa to brief the vice president on the progress made in the implementation of the FGN-ALAT Digital Skill-Novation Programme – an initiative of a partnership between the Federal Government and WEMA Bank to train two million youths and empower one million Micro Small and Medium Enterprises (MSMEs) across Nigeria.
The office of the Vice President in partnership with WEMA Bank has concluded arrangements to commence an initiative that will impact two million youth and one million Micro, Small and Medium Enterprises (MSMEs) across the country.
This is in furtherance to its pledge to support the job creation agenda of the Tinubu administration,
Vice President Kashim Shettima who received an update report on the programme on Monday during a courtesy visit by the Managing Director of WEMA Bank, Moruf Oseni, lauded the commitment and partnership of the bank for the initiative.
The delegation was at the Villa to brief the vice president on the progress made in the implementation of the FGN-ALAT Digital Skill-Novation Programme – an initiative of a partnership between the Federal Government and WEMA Bank to train two million youths and empower one million Micro Small and Medium Enterprises (MSMEs) across Nigeria.
Recall that the introduction of ALAT redefined experiential banking in Nigeria by offering a branchless and paperless banking. This reduced the stress of having to walk into a branch to open an account with a seamless sign-up process using a mobile phone, personal computer or a tablet. During its first year, ALAT acquired more than 250,000 customers, who were responsible for well over N1.6 billion in general deposits. In 2018, the bank closed in the N1 billion mark in terms of deposits into savings accounts.
Olamide Adeniji is a member of the editorial team of TheScript Newspaper
