- Safiu Kehinde
Wema Bank has emerged winner of the Best Small & Medium Enterprise (SME) Bank and Excellence in Digital Innovation awards at the 2024 Global Retail Banking Innovation Awards.
The financial institution announces this in a statement issued on Wednesday.
According to the statement made available to NPO Reports, these awards underscore the bank’s commitment to empowering businesses and delivering transformative digital solutions that cater to evolving customer needs.
It was recognized as Nigeria’s most innovative bank with its establishment of Africa’s first fully digital bank, ALAT.
The Global Retail Banking Innovation Awards, according to the statement, celebrate institutions that are reshaping the financial services landscape through impactful innovations and customer-centric approaches.
While Wema Bank’s Best SME Bank in Nigeria award highlighted its exceptional support for small and medium-sized enterprises (SMEs), the Excellence in Digital Innovation award was in recognition of the bank’s success in pioneering digital experiences that redefine convenience and accessibility.
Commenting on the awards, Moruf Oseni, MD/CEO Wema Bank, expressed pride in the recognition.
“Receiving these awards is a testament to Wema Bank’s dedication to innovation and our unwavering support for Nigerian SMEs.
“We are committed to delivering world-class banking solutions that empower our customers.
“These recognitions inspire us to keep leading the way in digital transformation, helping Nigerian businesses thrive in a competitive world.” He said.
The statement, however, read further; “Through initiatives like accessible SME loans and tailored training programs, Wema Bank reportedly strengthened the backbone of Nigeria’s economy by providing SMEs with essential resources to grow and compete effectively.
“These efforts affirm Wema Bank’s role as a leader in SME support, enabling businesses to contribute meaningfully to national development.
“On the digital innovation front, Wema Bank has transformed the banking experience through ALAT, Africa’s first fully digital bank, bringing seamless banking solutions to the fingertips of Nigerians.
“Coop Hub – First digital solutions for Corporative Societies in Nigeria to manage their operations and recently, the launch of ALAT Xplore—Nigeria’s first licensed mobile banking app designed for teenagers—introduced financial literacy and secure banking to young Nigerians, equipping the next generation with essential skills for a financially responsible future.
“As Wema Bank celebrates this achievement, the Bank remains focused on its mission to support sustainable growth for all customers.
“With a vision centered on progress and innovation, Wema Bank continues to set new benchmarks in Nigeria’s financial landscape, dedicated to fostering prosperity and enhancing the banking experience for every user.”