By JKNewsMedia
ONE YEAR after its launch, SeaBaas, the core banking system designed and built in Africa, has processed more than two billion transactions, according to Sterling Bank Limited (SBL).
The bank reported that the platform reduced processing times by about 60 percent and drove a 66 percent increase in customer adoption within its first twelve months of operation.
Sterling explained in a statement that SeaBaas underpins its digital ecosystem, powering OneBank, SterlingPro, Switch, and Specta, while enabling fintech integrations, agent banking networks, and third-party solutions.
Over the past year, the platform recorded zero downtime, which the bank said demonstrated its resilience and reliability as a financial technology system.
“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.”
The bank noted that SeaBaas was designed in-house and developed in collaboration with Peerless Software, KPMG, Bazara Technologies, Revent Technologies, and AppQuest Solutions.
It also highlighted the platform’s contribution as a model of technological execution within Nigeria’s financial sector.
According to the bank, SeaBaas has generated cost savings, freed resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.
It added that plans are in place to expand the platform’s capabilities further to tackle broader challenges and showcase African innovation globally.
“SeaBaas reminds us that when we dare to dream boldly and build courageously, there is no limit to what we can achieve in Africa,” Suleiman added. “This is only the beginning.”
Sterling Bank Limited is a national commercial bank in Nigeria and a member of Sterling Financial Holdings Company.
With more than six decades of operations, it has evolved from its origins in investment banking to a full-service provider of retail, commercial, and corporate banking.
The bank reaffirmed its HEART strategy, focusing on Health, Education, Agriculture, Renewable Energy, and Transportation, as a framework for growth and long-term impact.
