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Wema Bank Rolls Out New Digital Solution for Cooperative Societies

By Oluchukwu Ikemefuna

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Wema Bank, the pioneer of Africa’s first fully digital bank, ALAT, has officially launched CoopHub, a new digital solution for Cooperative Societies. The Wema bank’s new digital solution was revealed at the launch event held at the weekend to celebrate the 79th anniversary of the bank.

Wema bank new digital solution

Wema Bank New Digital Solution to Offer Solutions to Cooperative Societies

CoopHub is a digital platform developed strategically to transform the way cooperative societies operate. It works by providing solutions that bridge the gaps in the conventional framework of cooperative associations.

The platform provides cooperative societies with ways to mitigate prevalent struggles, consequently, making them operate efficiently. The prevalent struggles include manual recordkeeping, limited access to loans, poor communication, and insecurity. 

Advantages of the Wema Bank New Digital Solution

CoopHub will ensure that the leaders of Cooperative Societies manage every aspect of their community’s operations. The management is done from a simplified dashboard accessible on their phones. Hence, they seamlessly manage their Cooperative Society’s finances, communication, member records, analytics, and every other detail in real-time and on the go. 

Additionally, the members of the Cooperative Societies enjoy increased access to loans, seamless contribution tracking, and secure transactions. They also get to enjoy easy communication with the leaders. 

Conclusion 

CoopHub ensures Cooperative Societies maintain 100% transparency, reliability, and security. 

Wema Bank’s MD/ CEO, Moruf Oseni, highlighted the Bank’s commitment to innovation and customer-centricity through the CoopHub platform.

He said: “Cooperative Societies have many pain points. This is a bank that commits to empowering lives through innovation. We examined the end-to-end value chain of Cooperative Societies and launched CoopHub to provide solutions that address the pains and headaches in the Cooperative Society. Note that CoopHub is the future of Cooperative Societies and we have designed every detail to address the needs of every player in the Cooperative Society ecosystem. Also, to empower these communities for optimal productivity.”

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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