← Embedded Finance Index 2026/Vendor

Wema Bank

Provider
BaaSCard IssuingSponsor BankLendingPSP

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 8 companies across 5 categories.

wemabank.com ↗
CategoriesBaaS, Card Issuing, Sponsor Bank, Lending, PSP
Rank#56 of 316 in BaaS
Buyers8 companies
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Who uses Wema Bank
8 companies disclose Wema Bank in their stack
ALATFlutterwaveWema Bank Plc.Sycamore.NGBlocALAT by WEMAVeendHQ (Techstars '23)Chams Holdco
Buyer mix · 8 of 8 classified
Fintech / Lending · 2Fintech / Neobank · 2Infrastructure / Payments · 2Bank / National · 1Infrastructure / BaaS · 1
Africa · 7US · 1
What the disclosures say
ALAT
“alat.ng privacy policy names Wema Bank PLC as controller; playground.alat.ng documents Wallet Services, E-Commerce Wallet Services, Virtual Accounts and Debit Wallet APIs offered to partners.”
Flutterwave
“Flutterwave's own blog announcing Flutterwave Capital names lending partners: CashConnect Microfinance Bank, Indicina, Keystone Bank, Migo, Wema Bank, Zenith Bank, and Sterling Bank.”
Wema Bank Plc.
“Wema Bank is itself the chartered Nigerian bank; ALAT is its in-house digital bank.”
Bloc
“docs.blochq.io/docs/how-fixed-accounts-work names Banc Corp Microfinance Bank (Bloc MFB subsidiary) as licence holder; blochq.io/how-bloc-works names WEMA Bank and Providus Bank as partner banks; API docs show Verve-branded NGN virtual cards”
ALAT by WEMA
“alatpay.ng/terms-and-conditions defines ALATPay as the merchant payments service operated by Wema Bank Plc / Alat; docs.alatpay.ng and developer.alatpay.ng show hosted APIs and SDKs for merchants to accept payments.”
VeendHQ (Techstars '23)
“Site header warns customers to pay only to Wema Bank or UBA accounts, indicating collection accounts at those banks.”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Wema Bank? Claim this profile above to unlock your own full list.
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Alternatives to Wema Bank

Other BaaS providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Evolve Bank & Trust69 buyers →Sutton Bank63 buyers →Cross River52 buyers →Pathward47 buyers →ClearBank39 buyers →Thread Bank32 buyers →Backbase30 buyers →Community Federal Savings Bank30 buyers →
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Ranked #56 of 316 in BaaS — Embedded Finance Index 2026
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