…Surpasses 2 Billion Transactions
Sterling Bank Limited, recently named Best Workplace in Banking in Nigeria and recognized as Africa’s Most Agile Company, has celebrated the first anniversary of SeaBaas, its groundbreaking core banking system designed and built in Africa.
In just one year since going live, SeaBaas has processed over 2 billion transactions, cut processing times by nearly 60%, and driven a 66% increase in customer adoption—setting new benchmarks for efficiency, scale, and reliability in financial technology.
Since launch, the platform has powered Sterling’s digital ecosystem, including OneBank, SterlingPro, Switch, Specta, and more, while enabling fintech integrations, agent banking networks, and third-party solutions. Impressively, SeaBaas has maintained zero downtime across 365 days of service, positioning it 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. “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.”
Developed in collaboration with Peerless Software, KPMG, Bazara Technologies, Revent Technologies, AppQuest Solutions, and Sterling’s in-house engineering team, SeaBaas has emerged as a model of African ingenuity and execution excellence.
Beyond its technological achievements, SeaBaas has unlocked significant cost savings, freed resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.
Looking ahead, Sterling plans to expand SeaBaas’s capabilities to tackle bold challenges, reimagine financial systems, and showcase the potential of African-built 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. “This is only the beginning.”