# Phone-Friendly Digital Banks Nigeria's Fully Digital Bank, ALAT by WEMA, Emphasizes Ease of Use By Laura McQuarrie | Published 2017-06-15 | Tech Source: Trend Hunter, https://www.trendhunter.com/trends/digital-banks References: [alat.ng](http://www.alat.ng/) & [itunes.apple](https://itunes.apple.com/gb/app/alat/id1222853161?mt=8) 'ALAT' is the name of Nigeria's first [fully digital bank](https://www.trendhunter.com/trends/mahalo-banking) by WEMA, which makes it incredibly easy for consumers to manage their finances straight from their smartphone. The digital-first bank promises that signing up with one's phone is just a five-minute process that completely eliminates paperwork and only requires one's BVN and phone number. Within just a few days, ALAT bank customers are able re receive a free bank card after opening an account. When it comes to changing one's personal information, the bank promises that one can take a "DIY" approach using just a phone's camera. With the ALAT app, customers are also able to [schedule payments and transfers](https://www.trendhunter.com/trends/spush-wallet), as well as effortlessly look after their [local and international cards](https://www.trendhunter.com/trends/waza). To further entice consumers to join this digital bank, ALAT offers rates that rival traditional brick-and-mortar financial institutions. ## Trend Insights (Trend Hunter) - Score: 2.9/10 - Popularity: 40% | Activity: 40% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: Africa ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Tech](https://www.trendhunter.com/tech) > [Mobile](https://www.trendhunter.com/mobile) ## Key Themes ### Why This Trend Is Growing - **Digital Banking:** The trend towards fully digital banks like ALAT by WEMA in Nigeria presents an opportunity for disruptive innovation in the financial industry. - **Mobile Banking:** The rise of smartphone-based banking apps, such as ALAT, opens up new possibilities for disruptive innovation in mobile banking technology. - **Paperless Banking:** ALAT's emphasis on eliminating paperwork in the account sign-up process reflects a growing trend towards paperless banking, creating opportunities for disruptive innovation in streamlining administrative processes. ### Industries Being Reshaped - **Banking:** The digital-first approach of banks like ALAT highlights the potential for disruptive innovation in the traditional banking industry. - **Fintech:** The success of ALAT and other digital banks paves the way for disruptive innovation in the fintech industry, particularly in mobile banking and digital payment solutions. - **Technology:** The emergence of digital-first banks demonstrates the need for disruptive innovation in technology, particularly in developing secure and user-friendly mobile banking apps. ## Related on Trend Hunter - [Simplicity-Focused Mobile Banking Apps](https://www.trendhunter.com/trends/mobile-banking-apps.md) - [Biometric Banking Technology](https://www.trendhunter.com/trends/biometric-system.md) - [Comprehensive UAE Banking Apps](https://www.trendhunter.com/trends/ajman-bank.md) - [Africa-Focused Digital Wallets](https://www.trendhunter.com/trends/abba-payments.md) - [AI-Powered Banks](https://www.trendhunter.com/trends/ryt-bank.md) - [Nigerian Fintech Apps](https://www.trendhunter.com/trends/fintech-app.md) - [Auto-Savings Digital Bank Features](https://www.trendhunter.com/trends/superbank.md) - [Web3-Focused Digital Banks](https://www.trendhunter.com/trends/cogni.md) - [International Professional Neobanks](https://www.trendhunter.com/trends/zolve.md)