• Wed. Jul 17th, 2024

WEMA Bank Revolutionizes Cooperative Societies With Launch Of COOPHUB


May 12, 2024

In a landmark move, Wema Bank, known for its trailblazing innovations in the Nigerian banking sector and as the pioneer of Africa’s first fully digital bank, ALAT, has officially unveiled CoopHub, a cutting-edge digital solution designed specifically for Cooperative Societies. The unveiling ceremony took place on May 10th, 2024, coinciding with the Bank’s 79th anniversary.

L-R: Group Head, Partnerships and Ecosystem, Ajibade Laolu-Adewale; Divisional Head, Brands, People and Culture, Wema Bank, Ololade Ogungbenro; President Ogun State Cooperative Federation Limited; Alhaji Wasiu Olaleye; MD/CEO Wema Bank, Moruf Oseni and Executive Director, Retail and Digital Bank, Wema Bank, Tunde Mabawonku, at the launch of Coop Hub, Wema Bank’s digital solution for Cooperative Societies, held in Lagos on Friday, 10th May, 2024

CoopHub marks a significant milestone as the first-of-its-kind digital platform in Nigeria’s banking industry, aimed at transforming the operations of Cooperative Societies. Addressing the longstanding challenges faced by these societies, such as manual recordkeeping, limited access to loans, poor communication, and security concerns, CoopHub offers tailored solutions to enhance efficiency and productivity.

With CoopHub, leaders of Cooperative Societies can streamline their community’s operations through a simplified dashboard accessible on mobile phones. This comprehensive platform enables seamless management of finances, communication, member records, analytics, and other crucial details in real-time. Additionally, members benefit from increased access to loans, transparent contribution tracking, secure transactions, and enhanced communication channels with leaders, ensuring transparency and reliability.

Moruf Oseni, MD/CEO of Wema Bank, underscored the Bank’s commitment to innovation and customer-centricity in developing CoopHub. He emphasized CoopHub’s role in addressing the challenges faced by Cooperative Societies and empowering communities for optimal productivity.

Solomon Ayodele, Wema Bank’s Head of Innovation, highlighted the unique features of CoopHub, including a digitized database for records, user-friendly management tools for leaders, transparent contribution tracking, and seamless communication frameworks. He also emphasized CoopHub’s three-factor authentication system, ensuring enhanced security for financial transactions.

CoopHub is now available for Cooperative Societies worldwide, promising to revolutionize operations and empower communities. Cooperative Societies interested in adopting CoopHub can register at https://coophub.alat.ng/ to experience the future of Cooperative Societies firsthand.

By admin

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