In recognition of its position as a digital pioneer in the African banking landscape, Africa’s first fully digital bank, ALAT, a trailblazing digital platform pioneered by Nigeria’s oldest indigenous and most innovative bank, Wema Bank, has been awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025.
Euromoney is a leading provider of competitive intelligence and benchmarking insight for the global banking and finance industry, trusted for over 50 years to deliver data-led analysis that informs strategy, validates performance, and supports decision-making at the executive level. The Euromoney Awards, pioneered by Euromoney, are regarded as the ultimate accolade in banking; the industry-leading stamp of approval that banks across the globe work yearlong to achieve. Recognised as Nigeria’s leading financial institution in digital innovation, Wema Bank’s revolutionary digital bank, ALAT, was awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025 held at The Peninsula London Hotel in London on Thursday, 17th July, 2025.
Since its launch on May 2nd 2017, ALAT has bridged the gaps in delivery of financial services to Nigerians within Nigeria and globally, evolving remarkably into a holistic hub of lifestyle and financial solutions for Nigerian adults of all ages and from all walks of life. From simply being the first fully digital bank in Africa, ALAT has evolved remarkably into a digital platform with an ecosystem of dynamic financial solutions tailored to provide seamless, reliable, and convenient service for all. With ALAT, basic financial services like transfers, airtime & data purchases, bill payments and loans are placed at the fingertips of users, in addition to a wide range of advanced financial services and solutions that merge banking with lifestyle.
From in-app local and international flight bookings to tailored personal and group savings options, investments and stocks, movie and event tickets, deals and discounts on a limitless pool of products and services, 24/7 health consultation, and a suite of customised loan options for salary earners and non-salary earners; ALAT changed the game, redefining banking and financial services in a world where digital has become the future. In view of ALAT’s groundbreaking role in blazing the trail for FinTechs in Africa and its intentionally-curated wealth of features and offerings designed to meet the needs of Nigerians in Nigeria and the diaspora, it is evident that the Bank is undeniably deserving of the recognition and accolade.
Underscoring Wema Bank’s commitment in shaping the future of banking through impactful innovations like ALAT, Wema Bank’s MD/CEO, Moruf Oseni, expressed appreciation to the Euromoney Awards for recognising the Bank’s impact on the proliferation of digital innovation in Africa, reiterating the Bank’s commitment to its sustainability vision of developing digital solutions for societal impact. Receiving the award, Oseni commented, “The world is moving fast and so is the permeation of ‘digital’ into the most critical aspects of our lives. 80 years ago when Wema Bank was established, typewriters were the extent of banking technology. Today, we have pioneered a fully digital bank, and possess technology advanced enough to power over 150 FinTechs. In ten years, one can only imagine what this fast-paced digital economy will bring. One thing is clear, any business, venture or institution that will remain relevant by the end of the next decade, must leverage digital technology today. This is why Wema Bank is so driven when it comes to digital. Innovation and empowerment”.
“As a Bank, our stance is clear. Wema Bank will never relent in empowering lives through innovation and developing digital solutions for societal impact. We will continue to pioneer innovation, empower innovators and bridge the gap between traditional and digital, leveraging the opportunities of the digital world to generate meaningful impact on lives and businesses in Nigeria, Africa and across the world. We have remained resilient in this commitment since 1945 and this award tells us that the world is feeling our impact. We are honoured by this recognition, and I take this opportunity to extend our sincerest gratitude to the Euromoney Awards. We take this as a challenge to keep up the good work, go harder, and continue going above and beyond in shaping the future of banking through digital innovation. Here’s to 80 years of impact and a future of limitless possibilities with Wema Bank”. Oseni concluded.
Wema Bank continues to raise the bar in financial services, placing Nigeria on the global map for banking and digital innovation. Since 1945, the Bank has spearheaded a positive transformation in Africa’s banking and financial landscape, proving that Nigerian-owned businesses have the capacity to last and stand the test of time. As the Bank celebrated its 80th anniversary on May 2nd 2025, its futuristic digital platform, ALAT simultaneously clocked 8, marking 8 years of digital transformation.
The world continues to watch in anticipation as Wema Bank leads the movement in digital innovation, shaping the future of banking in Africa.
ABOUT WEMA BANK
Established on May 2nd, 1945, Wema Bank is Nigeria’s oldest indigenous bank, most innovative, and pioneer of Africa’s first fully digital bank, ALAT. Commemorating a remarkable 80 years of impact and a future of possibilities, Wema Bank celebrated its 80th anniversary on May 2nd 2025 alongside the 8th anniversary of ALAT by Wema.
The publicly quoted Nigerian company has successfully built a legacy of trust, resilience and banking excellence that has won it the loyalty of its customers for 8 decades and counting. The Bank has remained innovative in delivering value to its stakeholders, constantly introducing products and services tailored to the needs of its customers at every stage of their lives.
Wema Bank is a proud partner to more than one million individuals, families, and businesses across Nigeria, helping them achieve their personal and financial goals.
Since its establishment in 1945, Wema Bank has built a legacy of pioneering innovation and empowering innovation to thrive, connecting traditional with digital and introducing several digital gamechangers and industry-firsts that have redefined standards across various industries and verticals.
From launching Africa’s first fully digital bank, ALAT, in 2017, Wema Bank went on to launch the ALAT For Business App, a business-focused version of ALAT; CoopHub App, a-first-of-its-kind digital solution designed to empower cooperatives for optimal productivity; Wema Phygital, a self-service implementation adding a digital touch to the physical experience in Wema Bank’s branches; ALATPay, an end-to-end payment gateway that provides instant settlement for business transactions; and the ALAT Xplore App, Nigeria’s first fully licensed banking app for teenagers, among others.
