Wema Bank launches digital solution for cooperative societies

Wema Bank has launched CoopHub, a new digital solution for cooperative societies. The groundbreaking platform was unveiled at the launch ceremony in Lagos to commemorate the 79th anniversary of the bank. CoopHub, the first of its kind in the Nigerian banking industry, is a digital platform designed strategically to transform the way cooperative societies operate […]

Wema Bank has launched CoopHub, a new digital solution for cooperative societies.

The groundbreaking platform was unveiled at the launch ceremony in Lagos to commemorate the 79th anniversary of the bank.

CoopHub, the first of its kind in the Nigerian banking industry, is a digital platform designed strategically to transform the way cooperative societies operate by providing tailored solutions that bridge the gaps in the traditional framework of cooperative societies.

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.

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With CoopHub, leaders of cooperative societies can manage every aspect of their community’s operations from a simplified dashboard accessible on their phones to manage their cooperative society’s finances.

Members of the cooperative societies also enjoy increased access to loans, seamless contribution tracking, secure transactions, and easy communication with leaders.

Wema Bank’s MD/CEO, Moruf Oseni said, “Cooperative societies have many pain points. As a bank that is committed 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 experience for both the leaders of these communities and the members.”