Sterling Bank’s SeaBaas processes 2bn transactions in one year
Sterling Bank Limited yesterday disclosed that its SeaBaas banking system processed over two billion transactions in the last 12 months of its activation. The bank celebrated the first anniversary of SeaBaas, described as a revolutionary core banking system designed and built in Africa. Apart from processing over 2 billion transactions, the bank said it has […]
Sterling Bank Limited yesterday disclosed that its SeaBaas banking system processed over two billion transactions in the last 12 months of its activation.
The bank celebrated the first anniversary of SeaBaas, described as a revolutionary core banking system designed and built in Africa.
Apart from processing over 2 billion transactions, the bank said it has reduced processing times by about 60%, and driven a 66% surge in customer adoption, setting new benchmarks for scale, efficiency, and reliability in financial technology.
Since launch, the platform has powered Sterling’s digital ecosystem, OneBank, SterlingPro, Switch, Specta, and more, while enabling fintech integrations, agent banking networks, and third-party solutions.
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With zero downtime across 365 days of service, the bank stated that SeaBaas has proven its resilience as one of the most dependable financial platforms on the continent.
“SeaBaas, to us, represents a proof of possibility” said Abubakar Suleiman, Chief Executive, Sterling Bank in a statement, adding, “It shows that Africa can build world-class technology, solve complex problems locally, and scale globally.
“This milestone is a collective victory for every Sterling colleague, our partners, and our customers who believed in the vision.”
Designed by Sterling Bank and developed in collaboration with Peerless Software, KPMG, Bazara Technologies, Revent Technologies, and AppQuest Solutions, alongside Sterling’s in-house engineering talent, SeaBaas has become a model of courage, ingenuity, and execution excellence in Nigeria.
Looking forward, Sterling intends to build on this momentum by expanding SeaBaas capabilities to tackle bold challenges, reimagine financial systems, and showcase the potential of African innovation on a global stage.
“SeaBaas reminds us that when we dare to dream boldly and build courageously, there is no limit to what we can achieve in Africa,” added Suleiman.