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Fintech Apps - ALAT


Top 5 Nigerian Fintech Apps

Fintech is a term used to classify all computer programs and technology that support and facilitate banking and financial services. Because of the ease and comfort they provide, as opposed to the traditional methods of banking, fintech services have become more endearing to Nigerians in recent times.

The demand for fintech services can only grow at this point, as just above 50% of our estimated population have been recorded to have an active bank account. With the upsurge in the sales of mobile phones in Nigeria, fintech has begun to dominate the mobile scene. We have compiled a list of fintech apps that seem to be doing fairly well and are redefining the way people manage their finances. Find some of them below:


Fintech - Kudi

Kudi is the Hausa word for money and this is what this app is all about. Kudi.AI helps users manage their finances by using a simple conversational style as guide. Powered by Artificial Intelligence, the app is a part of Facebook’s Free Basic, so it doesn’t cost any data to use. Kudi.Ai essentially lives inside Facebook and Skype and so it can be classified as more or less a ‘chatty’ app that guides users on how to go about their daily transactions without them having to rely on a manual. On Kudi.AI, users can carry out various transactions including fund transfers, bill reminders, airtime purchases, and many more. Users are, however, charged N100 for every transaction; this is set at a fixed price no matter the amount requested for. So far, Kudi AI has recorded a thousand downloads and about 18 reviews by users on Google Play store.


Fintech - ALAT

ALAT is a digital banking app launched by WEMA Bank in May 2017. The app prides itself as Nigeria’s first digital bank and it is simply the online platform of WEMA Bank for all banking services. In order to encourage active participation on its platform, ALAT gifts its users who have successfully gotten ten of their friends to register with an amount of N10,000. Users, however, will be required to deposit a token of N500 each. Another interesting feature on the app is Goals – an automated way for users to save money by setting aside a specified amount depending on the specified schedule. Users who set ”Goals” get a 10% interest per annum on any amount they save. ALAT enables users carry out several transactions without having to step into a physical bank. Owing to its high functionality, ALAT has been downloaded a whopping 100,000 times and has over 2000 reviews on Google Play store.


From a square shaped wooden box or a fancy rubber pig-shaped object with a thin opening for squeezing money in, we now have a digitally evolved platform that enables people save for the future and also earn an average interest of 6% per annum on automated savings or 12.41% per annum with a fixed deposit account. is connected directly to commercial banks in Nigeria but it has an affiliation with UBA bank PLC which is the custodian of all the user accounts on the app. Through discipline and a flexible system, encourages users to make automated savings by using their debit card details to transfer money to their set Piggybank account based on their specific autosave instruction. Rising in popularity as a reliable platform for Nigerians to save money, presently has a total of 10,000 downloads and over 200 reviews on Google Play store.


Fintech - Reach

Reach was set up by JR Kanu, a former MBA grad from Stanford University, specifically to promote a savings culture among Nigerians and to help them save for rainy days. Saving on Reach is done with a community of people whom all have one collective goal in mind, to save money. In this way, members of the community can monitor each other’s progress and achieve their financial goals. Interestingly, Reach has a chatbot called Kudi which guides users through the saving process. Reach has been downloaded 10,000 times and has over 300 reviews on Google Play Store.


Fintech - CowryWise

CowryWise is an automated savings scheme that allows you set aside, as savings,  a fixed amount weekly bi-weekly, monthly, as you wish, with a guaranteed return of 10% -15% yearly. Like some of its counterparts, CowryWise lives on Facebook and has an interactive chatbot called Sisi which guides users through the service by helping them sign up for new CowryWise accounts, verify existing accounts, checking balances and monitoring their saving progress. Presently, Cowrie Wise has been downloaded over 10,000 times and has over 170 reviews.


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Samuel Okoruwa

My name is Samuel Okoruwa. I am an ardent researcher, reading is life and writing is fun.



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