It’s quite interesting, two old banks trying to be young again. You open Instagram, and there they are, rich colours, smiling millennials, hashtags about innovation, even dance challenges sponsored by banks that once told customers to “come back tomorrow” for a simple withdrawal.
Now, both Sterling Bank and Wema Bank want to be the face of digital transformation, but which one of them has actually earned that reputation?
The Digital Banking Reality Check
Nigeria’s banking sector has changed so much. Over 70% of banked Nigerians now use digital platforms weekly, and digital transaction volumes have surged by more than 240% in the past five years. What used to be a nice-to-have is now a necessity.
However, building a mobile app doesn’t make a bank digital, the actual transformation demands more, including culture change, customer trust, and consistent user experience. This is where Wema and Sterling’s approaches begin to diverge.
Wema Bank: The Digital Bank Before It Was Cool
When Wema launched ALAT in 2017, most banks were still struggling to understand fintech. That move gave it an eight-year head start in digital innovation. Today, Wema is living the digital transformation.
As of 2025, about three-quarters of Wema’s customers actively use its digital channels, and the results show. The bank’s gross earnings jumped by roughly 70% in the first half of the year, and profit before tax surpassed ₦100 billion, an increase from the previous year.
ALAT is a fully formed brand identity. From ALAT for Business to ALAT XPlore for teenagers, Wema has built a digital ecosystem that is modern and up-to-date. It’s also personable, playful enough to engage younger Nigerians, but structured enough to manage serious banking.
That’s what makes Wema’s transformation believable. It has turned its early digital test into a long-term advantage, earning awards, credibility, and genuine customer affection. Though the market is crowded with fintechs, Wema still manages to stay original.
Sterling Bank: From Brick Walls to “The One Customer Bank”
Sterling’s rebrand took a more philosophical turn. Instead of leading with an app, it led with an idea: “The One Customer Bank.” The goal was to treat every customer as if they’re the only one. It’s emotional, it’s human, and with our country filled with many people feeling neglected by their banks, it aligned.
Underneath that slogan, though, Sterling has been quietly re-engineering its systems. The OneBank app now offers a smoother experience, better transaction tracking, and new features like budgeting tools, card delivery requests, and foreign exchange services.
The bank even scrapped certain switch charges in 2025, making digital banking cheaper for its users, and customers genuinely appreciated.
Around 60% of Sterling’s transactions now come through its digital channels. It’s not quite where Wema is yet, but the growth is noteworthy. The bank has also built goodwill through its human-centred culture, the HEART of Sterling framework (focused on Health, Education, Agriculture, Renewable energy, and Transportation) is part of how it connects purpose with profit.
Sterling’s brand has matured, and while its digital tools may not yet match ALAT’s variety, its sense of empathy and simplicity keeps it relatable. It feels like a traditional bank trying earnestly to learn new tricks, and that sincerity counts.
Head to Head: Two Routes to the Same Goal
Wema Bank and Sterling Bank may be in the same race, but they’re running on different tracks.
Wema’s rebrand is confident, and data-driven. It leads with product innovation and doesn’t shy away from proving its claims. Every upgrade, campaign, or award reiterates the “Digital Bank” focus.
Sterling, on the other hand, is playing the long game. Its rebrand is built around trust, not technology. While Wema sells speed and modernity, Sterling sells care and connection. The bank’s communications are calm, thoughtful, and rooted in its service philosophy. It’s more about reassurance.
The difference is that Wema’s transformation feels complete, it has successfully merged technology, branding, and performance into a single identity. Sterling’s transformation, though optimistic, still feels transitional. It’s moving in the right direction but hasn’t fully arrived.
Finally…
If the question is which bank has truly rebranded for the digital age, Wema Bank takes the lead. It’s modern in language and operations too. The ALAT brand has built its own loyal following, and its numbers back this up.
Sterling Bank, however, deserves credit for the authenticity of its journey. It’s not trying to copy the fintech playbook. Instead, it’s finding its own path by blending human warmth with digital progress. Its rebrand seems more grounded than flamboyant, more about people than code, and in a market driven by perception, that kind of authenticity is important.
Digital banking in Nigeria has become more about who can make technology feel human.
Wema Bank has turned its early bet on ALAT into a competitive edge, one that aligns perfectly with today’s digital reality. Sterling Bank, meanwhile, is proving that transformation doesn’t always have to be loud to be real. It’s steady, evolving, and genuinely trying to build trust in a space where trust is rare.
Both banks are changing what legacy brands can look like in the digital age. But in 2025, Wema Bank has the louder success story, and Sterling Bank has the quieter, more human one. In the end, the best rebrand may not be about who looks the most modern, but who seems the most believable.
