Wema Bank unveils digital solution for cooperative societies

The groundbreaking platform was unveiled at the launch ceremony held at the weekend to commemorate the 79th anniversary of the Bank.

The unique platform insulates cooperative societies against prevalent struggles like manual recordkeeping, limited access to loans, poor communication, insecurity, and other restrictions, supporting them with the solutions needed to not only mitigate these problems but also operate with the utmost efficiency.Besides, members of the cooperative societies also enjoy increased access to loans, seamless contribution tracking, secure transactions, and easy communication with the leaders.

Disclosing the Bank’s motive for creating CoopHub, Wema Bank’s MD/CEO, Moruf Oseni, highlighted the Bank’s commitment to innovation and customer-centricity.“Cooperative Societies have many pain points.

“To promote community and financial security, CoopHub also offers a three-factor authentication system that ensures that every withdrawal from the Cooperative Society’s account is subject to an approval of three members of the Cooperative Society, including the Admin. We have been very intentional with CoopHub and I encourage every Cooperative Society to come on board and experience the future of Cooperative Societies through CoopHub,” Ayodele concluded.

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