Sterling Bank Ltd has celebrated the first anniversary of ‘SeaBaas’, its revolutionary core banking system designed and built in Africa.
A statement on Wednesday by Abubakar Suleiman, chief executive, Sterling Bank, said that in 12 months since its go-live, SeaBaas has processed over two billion transactions.
Mr Suleiman explained that the system had 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.
He added that since its inauguration, the platform had powered Sterling’s digital ecosystem, OneBank, SterlingPro, Switch, and Specta, among others, 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. 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.
”SeaBaas reminds us that when we dare to dream boldly and build courageously, there is no limit to what we can achieve in Africa. This is only the beginning,” Mr Suleiman said.
SeaBaas is 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.
Beyond technology, it has unlocked significant cost savings, freed resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.
(NAN)
