Sterling Bank Limited has marked the first anniversary of SeaBaas, the revolutionary core banking system designed and built in Africa.
The bank said that in the 12 months since its go-live, SeaBaas has processed over two billion transactions, reduced processing times by about 60 per cent, and driven a 66 per cent 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. With zero downtime across 365 days of service, SeaBaas has proven its resilience as one of the most dependable financial platforms on the continent.
“SeaBaas, to us, represents a proof of possibility,” the bank’s chief executive, Abubakar Suleiman, said. “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, partners, and customer 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. Beyond technology, it has unlocked significant cost savings, freed resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.
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. “This is only the beginning.”
Sterling Bank Limited is a full-service national commercial bank in Nigeria and a Sterling Financial Holdings Company. With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.
