If you are tired of your bank because of long queues, limited branches and ATM machines, grumpy customer care agents and Tellers, then rejoice. The future you have been waiting for is here. ALAT based in Nigeria is a fully functional digital bank. You never have to step into the banking hall, ever! Okay almost.
A product of Wema Bank, a Nigeria’s oldest indigenous commercial bank that’s been in business for the last 65 years, ALAT is built from scratch to give an entirely digital experience. Built as an Android and iOS mobile App, all you need to transact is simply an internet connected mobile phone or computer.
A user under alias of philiprohv on Techcabal Radar summarized the most profound features of the bank as follows;
- Open a fully functional savings account using just your BVN(Bank Verification Number) and phone number in exactly 5 minutes.
- Instantly fund your new account using any existing local or international debit/credit card you may have, in-app. No branch/ATM visits necessary.
- Upload any required documents in-app. No branch visits necessary.
- Select from two debit card designs in-app and have same delivered to you within 2 business days any where in the country (at ZERO cost for the card and for the delivery)
- Activate your new card and set your card PIN (or change an existing PIN) in-app. No branch or ATM visits necessary.
- Control what channels (ATM, POS or Web) your card gets used on and also what country your card gets used in.
- Schedule frequent transfers (e.g salaries or mumsi’s stipend) and bills (e.g DSTV subscription) and forget about them. ALAT’s got you.
- Create savings goals and earn 10% p.a. in interest on each goal, irrespective of the goal amount. Set your target, choose your saving frequency and ALAT handles the rest…and makes you some good money in the process
You will still need to visit the bank physically to collect a debit card and activate it, request your account statement, submit documents and often, to get basic customer support. Other than that, you might never ever have to go to the bank. That’s really cool.