Wallets/wema-bank
Wema Bank
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Key details
- Parent: Wema Bank Africa's first fully digital bank launch May 2 2017
Overview
Wema Bank is NGX: WEMABANK + Nigerian commercial bank + Nigeria's oldest indigenous commercial bank since May 2 1945 + one of Nigeria's largest commercial banks + ALAT by Wema Bank Africa's first fully digital bank launch May 2 2017 1, Nigeria report.
History
May 2 1945 — Agbonmagbe Bank founded by Chief Matthew Adekoya Okupe as Nigeria's oldest indigenous commercial bank distinctive Nigerian banking heritage.
1969 — Agbonmagbe Bank renamed Wema Bank.
May 2 2017 — ALAT by Wema Bank launched as Africa's first fully digital bank distinctive Nigerian + African digital banking pioneer.
Ownership & operator
Operating entity: Wema Bank Plc (Nigerian commercial bank; NGX: WEMABANK).
Major shareholders: Nigerian retail + institutional + foreign investors free float.
Regulators: CBN Central Bank of Nigeria.
Technical integration
ALAT by Wema mobile app (iOS + Android; ~2.5M+ Wema Bank + ALAT customers) + wemabank.com online + Wema Bank branch network across Nigeria + Wema Visa + Mastercard + Verve cards; NG IBAN + NIBSS Instant Payments + NQR Nigeria.
Implementations & partners
Wema Bank digital subsidiary: ALAT by Wema (ALAT by Wema Bank; Africa's first fully digital bank since May 2 2017 launch).
Major Nigerian banking + payments competitors: Zenith Bank (Zenith Bank; NGX: ZENITHBANK; Nigerian commercial bank; one of Nigeria's largest commercial banks) + First Bank of Nigeria (FirstMobile) (First Bank of Nigeria FBN; NGX: FBNH; Nigeria's oldest commercial bank since 1894) + GTBank (Guaranty Trust Bank; GTWorld) (Guaranty Trust Bank GTBank; NGX: GTCO; Nigerian commercial bank) + Access Bank (Access Bank; NGX: ACCESSCORP; Nigeria's #2 commercial bank by assets) + UBA (United Bank for Africa) (UBA United Bank for Africa; NGX: UBA; Pan-African banking group) + Union Bank of Nigeria (Union Bank of Nigeria UBN; NGX: UBN; Titan Trust Bank parent) + Fidelity Bank Nigeria (Fidelity Bank Nigeria; NGX: FIDELITYBK; Nigerian commercial bank) + Ecobank / Ecobank Mobile App (Ecobank Transnational Inc; ETI; Pan-African banking group across 35+ African countries) + Stanbic IBTC Nigeria / Stanbic IBTC Mobile 3.0 (APPbility) (Stanbic IBTC; NGX: STANBIC; Standard Bank Group Nigerian subsidiary) + OPay (OPay; Nigerian super-app + mobile money) + Kuda Bank (Kuda Bank Nigerian digital bank) + Carbon (Carbon Nigeria digital bank) + Flutterwave (Flutterwave; Nigerian fintech) + Paystack (Paystack; Stripe-owned Nigerian payment processor).
Regulators: CBN Central Bank of Nigeria.
Status
Active, NGX:WEMABANK + Nigerian commercial bank + Nigeria's oldest indigenous commercial bank since May 2 1945 + one of Nigeria's largest commercial banks + ALAT by Wema Bank Africa's first fully digital bank launch May 2 2017 1, 2.
Sources
- 1 Wema — official
- 2 Wema — Wikipedia
- Nigeria report In-corpus:
reports/countries/NG-nigeria.md
Source
Biography extracted from wema-bank.md. See matrix.md for standards-support matrix if present.