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.

The upgrades reflect the bank’s strong performance and resilience in the face of industry challenges.

Wema Bank is Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT.

Fitch upgraded Wema Bank’s National Long-Term Rating to ‘A-(nga)’ from ‘BBB(nga)’, with a Positive outlook, while affirming its Long-Term Issuer Default Rating (IDR) at ‘B-‘.

GCR also upgraded the bank’s National scale long and short-term issuer rating to BBB+(NG)/A2(NG) from BBB(NG)/A3(NG), with a Stable outlook.

The upgrades are a testament to Wema Bank’s commitment to delivering value to its customers and shareholders.

The bank’s intentional approach to banking has earned it a reputation as Nigeria’s most innovative bank, with a legacy of impact, resilience, empowerment, innovation, and excellence.

Wema Bank’s Managing Director and CEO, Moruf Oseni, commended Fitch and GCR for their objective assessment and projection of the bank’s promising future.

He reiterated the bank’s promise to its customers and shareholders, asserting that Wema Bank’s journey has just begun at 80 years.

According to him, “Wema Bank is more than just a provider of financial services. This great institution represents a bold and firm statement to the world, ‘Nigerian-owned can stand the test of time’. Wema Bank was founded on the precipice of catering to the needs of Nigerians when no one else would. 80 years later, that legacy lives on and we are more fueled than ever to keep that timeless legacy thriving.

“Wema Bank has navigated every challenge, bounced back with an unquenchable thirst to keep going, and consistently developed solutions that accelerate progress across various industries beyond banking. Today, Wema Bank stands stronger than ever at 80 years. This is what happens when you devote your ‘all’ to self-improvement and delivering value to the people you serve. 80 years seems like a lot—and it is, but it is nothing compared to what lies ahead.

“These upgrades are very significant and represent good news for us as a bank. It stands as a strong testimony to the great work we have all put in in the last one year. Wema Bank will continue to exceed all expectations, support the people on all levels and never relent in our promise to keep delivering optimum value to every stakeholder”, Oseni concluded.

The upgrades are consistent with previous ratings upgrades received by Wema Bank, including a rating upgrade from Agusto & Co to Bbb+ with an ESG Score of 2 and a stable outlook in 2024. The bank’s strong performance and resilience have earned it recognition both nationally and globally.

“2024 also saw GCR upgrade Wema Bank Plc’s national scale long-term issuer ratings to BBB(NG) from BBB-(NG) and affirm the short-term issuer rating of A3(NG), with the Outlook revised to Stable; while Fitch Affirmed the Bank at ‘B-‘ with Outlook, Stable.

“Wema Bank’s commitment to delivering value and generating positive impact on individual, industry, national, and global levels is evident in its continued growth and innovation. The bank’s legacy of 80 years is a testament to its ability to adapt and thrive in a rapidly changing banking landscape.”

The bank also proposed a dividend per share of 50kobo; up from 30 kobo in 2022 and deposit growth of 60 per cent to ₦1,860.57bn from ₦1,165.93bn reported in FY 2022.

“Return on Equity (ROAE) of 39.28%, NPL of 4.31% and N40billion 1st tranche of Capital raise awaiting final regulatory approvals,” a statement from the bank said.

Commenting on the results, Mr. Moruf Oseni, the MD/CEO of Weman Bank, said, “2023 showcased a revitalised Wema Bank as evidenced by the considerable improvements in our numbers. The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 196%.”

He noted that the growth of Gross Earnings by 72%, Total Assets by 56% and earnings per share at 279.5 kobo shows the core improvements to the bank’s balance sheet.

“In addition, our cost to income ratio at 64.37% has witnessed significant improvement from the previous period.

“We also completed our N40bn Capital raise exercise (results awaiting final verification by regulators). This exercise actively positioned us for the new capital licensing requirements of the Central Bank of Nigeria. Wema Bank will accelerate its capital management plans and ensure we embark on the journey to raise the required capital as quickly as possible.

“The Bank will be proposing a dividend per share of 50 kobo to its shareholders at the next Annual General Meeting; this is in line with the Bank’s capital conservation strategy and to ensure that it continues to provide returns to its shareholders in anticipation of additional capital raises scheduled for later this year.

“We are satisfied with the bank’s performance in the first year of the new leadership team, as we move in a strong growth trajectory. Our target remains clear, we want to become a Top-Tier Bank in the industry powered by Digital excellence, we have carved a niche for ourselves with ALAT as a Retail platform, but we are now positioning the enterprise as the Intelligent platform for all financial services.

“We have partnered with the Federal Government on upskilling Two Million MSMEs, provided engagement platforms for all NYSC members and are now implementing partnerships in Health, Education, Women empowerment and in the green economy.

“In the months ahead, we would be developing platforms and supporting initiatives that prioritise the needs of our customers, leveraging technology in solving problems across all sectors.”

Segun Opeke is an alumnus of the University of Lagos, where he studied Banking and Finance and also obtained his MBA.

He is also an alumnus of the Colombia Business School and the London Business School.

He has attended several professional and leadership programmes in world-class institutions, including INSEAD Business School in France and Euromoney, London.

Segun started his professional career at the then Chartered Bank Limited and later played diverse strategic roles in various banking institutions including leading the Consumer Banking Team in FSB International Bank before proceeding to Prudent Bank as an Area Manager.

Following the consolidation of Skye Bank in 2006, Segun worked as the bank’s Treasurer, Regional Director and later became the Group Head of Corporate Banking, Aviation and Maritime group.

Upon Polaris Bank taking over the defunct Skye Bank in 2018, Segun was made an Executive Director in charge of Lagos Business and Corporate Banking directorates until June 2023 when he retired from the bank.

Yusuf Kazaure is a Corporate and Technology Industry expert with over 35 years cumulative multi-sector working experience spanning Architecture, Construction, Banking, as well as Information and Communication Technology (ICT).

He is an alumnus of the Ahmadu Bello University in Zaria, where he obtained his BSc and MSc in Architecture, the Bayero University in Kano, where he obtained an MBA and Oxford University in the UK, where he obtained a Diploma in Computing.

Kazaure has also attended executive training courses at various institutions across the world including INSEAD in France, Wharton, University of Pennsylvania and the CIO Institute of Carnegie Mellon University in the US and the Advanced Management Training Program (AMP) of the Lagos Business School, among others.

He is a fellow of the Nigeria Computer Society, the Nigeria Institute of Management Consultants and the Nigerian Institute of Architects and is currently pursuing a PhD in Cybersecurity at the Nasarawa State University, Keffi, Nigeria.

Kazaure started his career in 1987 as an Architect in the Kano State Ministry of Works and Housing before moving into the banking sector where he worked for 10 years. He served as the Permanent Secretary in the Ministry of Commerce and that of Urban & Regional Planning in Jigawa State and later became a Director General of International and Governmental Affairs in the Executive Governor’s Office of Jigawa State between 1999 and 2002.

He was the pioneer Managing Director/CEO of Galaxy Information Technology and Telecommunication Ltd – the Jigawa State owned ICT company in 2002, and later the CEO of the Federal Government owned Galaxy Backbone Ltd from 2014 to 2019.

He was also the Chairman of the Board of Directors, Nigeria Satellite Communications Ltd from January 2020 to June 2023 and a Director of MAG Group Ltd.

Wema Bank in a statement on Wednesday said the duo were credited for powering transformative outcomes and making immense contributions in areas ranging from Business Development, Corporate Finance/Restructuring and Digital Transformation to ICT, in their previous employments, hence Segun and Yusuf’s addition to the Wema Bank Management Team is set to be a transformative experience for the Bank.

Announcing the appointment, Dr. Oluwayemisi Olorunshola, Wema Bank’s chairman, asserted the Bank’s commitment to strengthening its workforce and forging strategic partnerships that will help the Bank achieve its corporate goals and ensure customer satisfaction.

“On behalf of the entire staff and Management, I welcome Segun Opeke and Yusuf Kazaure into this unique family,” she said.

Also, commenting on the appointment, Wema Bank MD/CEO, Mr. Moruf Oseni, said: “I am convinced that the Board has made the right decision for the continued growth of the Bank. Segun and Yusuf have joined us at a crucial point in our journey where we are driving our efforts for significant growth, and with their extensive wealth of industry experience, I believe they have come in at the right time.”

With Wema Bank already amassing reputable awards early in the year, coupled with the expedited financial growth recorded in its 2023 financial report, 2024 is evidently a promising year for the innovative financial powerhouse and its customers.

Mobile banking has become an important part of many consumers’ daily lives. A recent survey by Mastercard, a global payments and technology platform, finds ninety-one percent (91%) of Nigerians say they use digital channels such as banking apps and websites to make financial transactions.

The allure, of course, is the convenience mobile banking offers: Consumers tote their smartphones virtually everywhere, so a mobile banking app can help them quickly take care of a range of financial needs whenever they wish. It’s essentially a bank in your pocket or purse.

While many people are uncomfortable with their level of savings, mobile banking offers helpful tools to track expenses, set savings goals and maintain financial security.

It also makes banking much more accessible to those who might not have access to a branch nearby and others who need quick loans.

In this article, Techeconomy reviews ten (10) Nigerian banks app we are watching in 2024.

Let’s go!

1. Access Bank (Access More App)

Number of Downloads on Play Store: 5,000,000+

Rating: 4.5 out of 5

Users Complaints:

Access Bank has received mixed reviews from users. Interestingly, greater percentage of the reviewers (users) on the app store are excited about responsive level of the app (very quick) to failed transactions due to network issues.

However, others express frustration with the app’s recent changes.

Users highlight issues such as transaction history discrepancies, desire for additional account management features,  and debit card issues.

Ability to Give Loans:

Access Bank is known for its competitive loan offerings, providing various options tailored to meet the diverse financial needs of its customers.

The application process is generally streamlined,

Access bank offers salary advance, personal and business loan options, with competitive interest rates and quick processing times.

Access Bank also plays big in eNaira, Foreign Exchange Currency (FCY) transfers, QR and cardless payments.

UI/UX:

The app’s overall user interface is considered user-friendly by many, but recent changes have led to complaints about the inability to turn off specific accounts and challenges in selecting the preferred order of multiple accounts.

Asides these, the app has a responsive design for mobile devices.

Other Distinguishing Key Features:

Biometric Authentication: Access Bank emphasizes enhanced security with biometric authentication options, offering users a seamless and secure login experience.

Expense Tracker: The app incorporates an expense tracker, empowering users to manage their finances more effectively.

Its wide network of branches and ATMs, digital banking initiatives (AccessMore app, PayWithCapture) and strong focus on financial inclusion makes the bank stand out.

Security:

Access Bank has strong security measures to protect user data and transactions. It maintains a firm focus on security, implementing biometric features and encryption protocols to safeguard user data, multi-factor authentication, device fingerprinting, data encryption, and in-app security tips.

2. FCMB (FCMB Mobile)

Number of Downloads on Play Store: 1,000,000+

User Rating: 3.5 out of 5

Rated #39 in Finance apps (iOS)

User Rating: 3.1 out of 5

Users Complaints:

For FCMB, reviews by the users show some level of frustration with the app, citing reliability issues, delays in account opening, and app crashes during transactions. Some customers find the app unreliable for business use and encounter challenges with online banking registration.

Some have also highlighted the need for a more intuitive user interface.

Ability to Give Loans:

However, the plus values of FCMB stem from its offerings – a range of loan products, and once registered, customers generally appreciate the loan options available, with plans to expand loan options.

FCMB offers various loan options, providing users with access to credit based on their financial profiles. The bank has flexible repayment terms and requires collateral for some loans.

UI/UX:

The latest (app) design receives praise for its intuitive layout and easy navigation. However, persistent issues like app crashes during transfer receipt sharing detract from the positive user experience.

The user interface is generally user-friendly, with users appreciating the simplicity. However, enhancements in response times and transaction reliability are suggested.

Other Distinguishing Key Features:

Cardless Withdrawals: FCMB integrates cardless withdrawal features, allowing users to withdraw cash from ATMs without a physical card.

Personal Financial Management Tools: The app offers tools for users to manage their budgets and track expenses.

FCMB takes customer relationships highly, with youth-focused banking products and a growing digital banking presence.

It also deals in multi-currency accounts, forex trading, loan repayment tracking, virtual cards, loyalty rewards program, distinguishing itself with its business-focused features and an improved mobile app design.

Security:

FCMB prioritises security, incorporating encryption and two-factor authentication to protect user information.

Users report concerns about the reliability of FCMB’s technology, urging the bank to address errors in online banking registration promptly.

Secure login protocols, fraud monitoring, transaction alerts, and dedicated security team are FCMB’s strong focus as regards security.

3. Fidelity Bank

Number of downloads on Play Store: 1,000,000+

User Rating: 3.8 out of 5

Users’ Complaints:

Fidelity Bank app users are reporting occasional delays in updating transaction history and have expressed concerns about the app crashing.

Ability to Give Loan:

Fidelity Bank provides users with access to various loan products, catering to personal and business financial needs including SME loans, with plans to expand loan options in the future.

It has competitive interest rates and flexible repayment terms with focus on customer relationships and tailored loan solutions.

UI/UX:

The user interface is generally well-received, but ensuring app stability is important for an optimal user experience.

Other Distinguishing Key Features:

In-App Financial Planning: Fidelity Bank integrates financial planning tools within the app, assisting users in managing their financial goals.

Quick Balance Check: Users appreciate the ability to check their account balances quickly without navigating through multiple menus.

Strong focus on retail and SME banking, growing digital banking presence with initiatives like Fidelity Go

Active involvement in community development projects.

Security:

Fidelity Bank employs strong security measures, including transaction PINs and biometric authentication, to ensure the safety of user data. Secure login protocols, transaction alerts, and dedicated security team are added features.

4. First Bank (FirstMobile)

Number of Downloads on Play store: 5,000,000+

User Rating: 3.7 out of 5

User Complaints:

The app’s transaction history functionality is a major headache for the users. They cited inaccuracies and difficulties in tracing transactions. Some users encounter challenges updating the app through the designated store.

FirstBank app users have also reported occasional login issues and transaction delays. Some have suggested improvements in the app’s response times.

Ability to Give Loans:

FirstBank provides various loan options with a relatively straightforward application process.

FirstBank has a well-established loan platform, providing users with access to personal and business loans.

The bank provides easy access to salary loans, personal loans, and SME loans through the app. It has diverse range of loan products, tailored solutions for different needs and strict eligibility criteria.

UI/UX:

The FirstBank app is generally praised for its ease of use, with a well-organised website.

However, users request an in-app update option to enhance the overall user experience. The app’s user interface is visually appealing, but addressing occasional lagging and optimising navigation would contribute to an enhanced user experience.

Other Distinguishing Key Features:

FirstBank is the largest bank in Nigeria by assets, it has an extensive branch network with a wide range of financial services.

Virtual Card Services: FirstBank offers virtual card services, allowing users to make online transactions securely.

Chatbot support, account aggregation, travel insurance purchase, instant transfers, and merchant offers are other distinguishing features.

Security:

FirstBank prioritises robust security measures, but users emphasise the importance of consistent app updates to address potential vulnerabilities.

Its security measures include multi-factor authentication, biometric login, transaction limits, and real-time fraud prevention. The Bank invests heavily in security infrastructure.

5. GTCo (GTWorld)

Number of downloads on Play Store: 5,000,000+

User Rating: 3.7 out of 5

User Complaints:

For GTWorld users, login flow changes and potential difficulties in accessing funds due to the new update, are major challenges they face.

Ability to Give Loan:

GTWorld app has an extensive loan portfolio for individuals and businesses, commendable and competitive rates with flexible repayment options. It places emphasis on digital loan applications.

UI/UX:

While the new UI/UX update received positive feedback, users emphasised the importance of maintaining simplicity in the app’s design.

Other Distinguishing Key Features:

Innovative features, such as foreign exchange swap, bill payments, travel insurance purchase, account verification, virtual cards, QR code payments, strong brand recognition and customer base, pioneering digital banking initiatives and corporate social responsibility programs make the bank stand out.

Security:

Multi-factor authentication, biometric login, secure in-app messaging, and fraud monitoring tools are some security measures put in place by the bank.

GTCo invests heavily in cybersecurity, regular security updates and awareness campaigns.

6. Stanbic IBTC

Number of downloads on Play Store: 1,000,000+

User Rating: 3.4 Out of 5

User Complaints:

Users have also complained about transaction history and occasional login issues. There are also privacy concerns regarding account balance visibility during transactions.

Ability to Give Loan:

Stanbic IBTC leads the way with its unique offering of loans without collateral or guarantor requirements, enhancing financial accessibility for users.

The Bank offers a wide range of loan options within the app, including mortgages, car loans, and student loans. It specialises in corporate and investment banking, offers personal and business loans with focus on high-net-worth individuals.

UI/UX:

While the app has evolved positively, users express a desire for more customisable transaction history and improved transaction receipts.

Other Distinguishing Key Features:

Stanbic IBTC’s app is praised for its role in facilitating daily business transactions and providing a platform for collateral-free loans.

It has a strong international presence, prioritises financial advisory services, has wealth management tools, investment options, insurance purchase, account statements download, virtual cards among others.

Security:

Multi-layered security with biometric login, transaction confirmation, and real-time fraud detection are the Bank’s strong security measures.

7. Sterling Bank (Sterling OneBank)

Number of Downloads on Play Store: 1,000,000+

User Rating: 3.7 out of 5

Users’ Complaints:

Sterling Bank app users have highlighted occasional challenges in navigating through the app’s menus, suggesting improvements for enhanced user-friendliness. Inconsistent customer service experiences, limited ATM network compared to larger banks and occasional app crashes and bugs are other issues.

Ability to Give Loan:

Sterling Bank provides users with a range of loan products including salary and personal loans, with plans to expand loan options in the future.

Beyond personal and business loans, the bank offers agricultural loans with competitive interest rates and flexible repayment options. It focuses on supporting small businesses and entrepreneurs.

UI/UX:

While the user interface is generally well-designed, focusing on improving navigation fluidity would contribute to an even better user experience.

Other Distinguishing Key Features:

FX Swap, payment schedules, links for payment requests to family and friends and Interactive Budgeting Tools are some stand out features. The app provides users with interactive budgeting tools, aiding in effective financial management.

Security:

Sterling Bank implements robust security measures, including real-time transaction monitoring and secure authentication, to protect user data.

The Bank focuses on sustainability and green banking initiatives, with strong corporate governance practices and active involvement in social development projects.

8. United Bank for Africa (UBA Mobile Banking)

Number of Downloads on Play Store: 5,000,000+

User Rating: 4.0 out of 5

User Complaints:

The users report challenges with the app’s interface, login difficulties, and transaction-related issues, highlighting potential areas for improvement.

Ability to Give Loan:

Easy access to salary loans, personal loans, and business loans with a wide range of loan products for various needs. Fast loan processing times and a focus on financial inclusion and underserved markets.

UI/UX:

The complete overhaul of the app’s interface has triggered negative user feedback, emphasised the importance of clear communication and maintained a seamless user experience.

It has a modern and visually appealing interface but can be cluttered with promotional offers.

Other Distinguishing Key Features:

Account aggregation, airtime purchase, mobile wallet top-up, merchant offers, loyalty rewards program are some distinguishing features.

UBA has a Pan-African presence with operations in 20 countries. It has a strong focus on mobile banking and payments, innovative products like Leo, the virtual chatbot assistant.

Security:

Strong authentication measures, transaction alerts, real-time fraud detection, and dedicated security team.

9. Wema Bank (ALAT)

Number of Downloads on Play Store: 1,000,000+

User Rating: 3.9 out of 5

Users’ Complaints:

Users of the Wema Bank app have reported occasional difficulties in logging in, with suggestions for improvements in the app’s speed.

Ability to Give Loan:

Wema Bank offers a variety of loan options through its app, providing users with convenient access to credit facilities.

It focused on niche markets like young professionals and SMEs with innovative loan products like the ALAT Salary Top-up, flexible repayment options and competitive interest rates.

UI/UX:

The user interface is visually appealing, with enhanced app speed for an improved user experience.

Other Distinguishing Key Features:

Account Customisation: Wema Bank allows users to customise their account profiles within the app, offering a personalised banking experience.

Quick Fund Transfer: Users appreciate the efficiency of the app in facilitating quick fund transfers.

Strong focus on digital banking and financial technology, innovative products like ALAT, the digital bank, youth-centric marketing and branding are other unique products.

Security:

Wema Bank prioritises security, implementing multi-layered authentication processes and encryption protocols to safeguard user information. The Bank invests heavily in cybersecurity measures, with regular security audits and penetration testing.

10. Zenith Bank (Zenith Bank Mobile App)

Number of Downloads on Play Store: 5,000,000+

User Rating: 3.3 out of 5

User Complaints:

Issues with beneficiary lists, reduced transfer limits, and challenges in the login process have been reported by users. Zenith Bank Mobile App also has issues with poor customer service experiences, inconsistent app performance and strict account maintenance fees.

Ability to Give Loan:

Zenith Bank offers a range of personal, business, and mortgage loans with competitive interest rates for prime customers and stringent loan approval processes.

UI/UX:

The recent UI/UX update received mixed reviews, with users appreciating innovation but calling for improvements in functional clarity.

Other Distinguishing Key Features:

Innovative features, such as sending money to nearby users, contribute positively to the user experience. Account aggregation, instant transfers, airtime purchase, loyalty points program, QR code payments are other unique features.

Security:

Zenith Bank takes Cybersecurity strongly, protecting users’ data against fraudulent activities. The Bank has put in place a security framework to enhance this.

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In conclusion, Nigerian banks app users face similar challenges across the institutions reviewed. These issues range from beneficiary lists, reduced transfer limits, and challenges in the login process to poor customer service experiences, inconsistent app performance and strict account maintenance fees.

Zenith, UBA, GTCO, FirstBank and Access Bank all have over 5 million app downloads on Google Play Store as at the time of this review.

On the other hand, Wema Bank (ALAT), Sterling, Stanbic IBTC Bank, Fidelity and FCMB, account for 1 million plus downloads.

From the UX/UI perspective, Nigerian banks aren’t doing badly as none of them received less than 3.2 rating out of 5.

From the foregoing, Access Bank mobile app apps to be the best rated with 4.5 out of 5.

Which banking app are you using?

What has been your experience?

Comment:

ALAT by Wema, one of Nigeria’s leading digital banks, is helping customers express their love in exciting ways.

In celebration of Valentine’s Day 2023, ALAT is launching the & “Express Love with ALAT” campaign, which includes an online creative competition that will commence on the 7th of February, with prizes including cash rewards and other incentives.

Acting Head of Brand and Marketing Communication at Wema Bank, Morolake Philip Ladipo, said. “Our customers are very central to all we do, and we will continue to create value to enable their lifestyle”.

ALSO READ: ALAT Launches Campaign to Promote Savings, Investment Culture

According to Morolake, the campaign will begin with an announcement asking customers to express their own love language through art, music, poetry, or acts of kindness.

This could be in the form of cash transfers to gift someone an experience with ALAT Rewards; paying the bill of a loved one using ALAT or *945#; or sending someone some airtime or data using ALAT to catch up with them over the phone.

“There is no doubt that the campaign is going to be an exciting one, as customers get to express their affection to their loved ones in different ways. It is open to both prospective and existing customers of the bank as they stand the chance to win fantastic prizes”.

This will help them build a strong financial base in the new year.

The bank, in a statement, encouraged both existing and new customers to take advantage of its numerous savings offerings to grow their finances and create wealth by cultivating a strong culture of regular savings and investment.

ALSO READ: NIGERIA – Inflation, Diesel, other Market Forces Escalate Cost of Services

According to Morolake Philip-Ladipo, Acting Head, Brand and Marketing Communication at Wema Bank, there are nine savings services on ALAT that customers can choose from, noting that they can earn up to 10% interest.

“As people resume their various activities after the festive season, the early weeks of the year are often associated with a rise in spending. There are nine savings plans on ALAT that customers can choose from, to ramp up their savings and investment. Naturally, it is difficult for people to save money because there isn’t going to be sufficient money to keep after spending. However, there is a more significant gain when people cultivate the discipline of making regular savings and investment a lifestyle,” she said.

For customers who would like to spend, the Spend and Save feature is the most convenient option. Customers can automatically save a percentage of the transaction amount on ALAT and earn interest on their savings. They determine the specific transaction type and duration when a withdrawal can be made.

Other savings and investment products include Stash, Flexi Goal, Spend and Save, Fixed Goal, Lock Up Savings, Dollar Plan, Investment, and Rotating Savings.

Philip-Ladipo added that the various savings features available were designed to meet the preferences and needs of everyone who desires to be intentional about their savings and investment culture.