Wema Bank Partners Duplo to Expand Digital Payment and E-Invoicing Services for SMEs

Wema Bank Plc has entered a strategic partnership with financial technology company Duplo to help small and medium-sized enterprises in Nigeria manage payments, expenses and other financial operations more efficiently.

Under the partnership, Duplo’s business finance tools will be integrated into ALAT for Business, Wema Bank’s digital banking platform for corporate customers.

The integration will allow business owners to monitor expenditure, transfer funds, create virtual accounts and generate electronic invoices that comply with Nigeria Revenue Service requirements.

By combining banking and financial-management functions on a single platform, Wema Bank expects to reduce the administrative burden facing SMEs, particularly businesses that currently rely on separate applications to manage payments, accounting records and regulatory obligations.

The e-invoicing feature is especially relevant as Nigerian companies prepare for increased compliance monitoring under the National E-Invoicing and Electronic Fiscal System.

Access to compliant invoicing tools through a banking platform could make adoption easier for businesses with limited technical capacity.

For Wema Bank, the partnership could strengthen ALAT for Business by expanding it beyond conventional account and payment services.

Providing expense-management and compliance tools may also help the bank attract new business customers, deepen transaction activity and improve retention within the SME segment.

Duplo, meanwhile, will gain access to Wema Bank’s business-banking network and a wider pool of enterprises seeking integrated financial solutions.

The partners did not disclose the financial terms of the agreement or provide a timetable for the full rollout of the new features.

Wema Bank described the collaboration as part of its broader effort to make business banking simpler and more efficient for Nigerian SMEs.