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Wema Bank has launched the ALAT Xplore App—a groundbreaking banking app designed to empower Nigerian teens aged 13-17 with financial literacy and management tools. Wema is renowned as Nigeria’s foremost innovative financial institution and creator of Africa’s first fully digital bank, ALAT.
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The new app, unveiled this week in Lagos, is now available on the Google Play Store and Apple App Store. It provides teens with a user-friendly and interactive banking experience.
ALAT Xplore is Nigeria’s first licensed banking app exclusively for teenagers. It delivers a seamless experience with unique features like savings goals, and customizable widgets. Another feature is debit card options that appeal to young users. Teens can save for specific goals, purchase airtime and data, and customize the app’s interface to suit their preferences. The app also offers ALAT Xplore Debit cards in three exclusive designs, allowing teens to choose a card style that resonates with them.
Integrated parental control
One standout feature of ALAT Xplore is its integrated parental control. Parents or guardians can manage their teen’s ALAT Xplore Account through the ALAT App. They can also fund a dedicated wallet for spending without accessing the full account balance. This structure ensures safe and monitored transactions. It gives parents the ability to approve requests and monitor spending while empowering teens with real-world financial experience.
Moruf Oseni, MD/CEO of Wema Bank, highlighted the importance of early financial literacy. “Teenagers stand at the transition between childhood and adulthood, a critical time to instill financial skills. The ALAT Xplore App equips teens to understand and manage finances effectively, creating a foundation for financially responsible adulthood. We invite parents and teens across Nigeria to join us on this journey of financial empowerment,” said Oseni.
App introduces teens to financial independence
Beyond functionality, the app introduces teens to financial independence, guiding them in setting savings goals, understanding budgeting, and learning about responsible spending. Oseni encouraged teens to download ALAT Xplore, and for parents to open ALAT Xplore Accounts to begin this valuable learning process.
The app, available globally for teens with Nigerian guardians, symbolizes Wema Bank’s commitment to inclusive financial solutions and positions ALAT Xplore as a leading innovator in youth-oriented banking. As Wema Bank pioneers this unique product, Nigerian teenagers are set to benefit from enhanced financial literacy and practical money management skills that prepare them for adulthood.
