The Alternative Bank Revolutionises Digital Transfers With Initiative

The Alternative Bank (Altbank) is set to redefine the rewards space in Nigerian banking, as it

launched a new campaign that allows users to earn real Gold simply by transacting through

its innovative digital banking platform, Altbank. 

The campaign, tagged, “Altbank Gold Rewards,” will run until the end of 2025 and aims to promote awareness and adoption of the bank’s mobile application, while rewarding users with tokenized Gold (small units of real Gold, stored

digitally in the app) for performing routine financial transactions.

“For every interbank transfer, that is, transfers to other financial institutions made through the

Altbank app, users automatically receive one gold token, equivalent to 25 micrograms of Gold. These tokens accumulate in the user’s in-app wallet and can be liquidated into Naira at the prevailing market rate for Gold on the day of liquidation.  It is an unusual proposition in a market dominated by airtime giveaways, cashback offers, and discounts,” it said in a statement.

According to the bank, the initiative is part of its wider strategy to attract financially and digitally savvy users who are looking for more value and long-term benefits from their banking relationships.

“This is not your typical loyalty program,” Mohammed Yunusa, Director, Digital Business and Innovations, said.  “We are literally putting real value in the hands of our users, one transfer at

a time. The goal is to create a direct, tangible benefit for simple actions people are already doing, sending money.”

Beyond the Gold rewards, he said the Altbank app also allows users to send and receive funds, pay bills, purchase airtime and data, and request both virtual and physical debit cards.