Africa: Sterling Bank Adopts Africa's First Indigenous Core Banking Solution

17 September 2024
Vanguard (Lagos)
By Peter Egwuatu

Sterling Bank Limited has migrated to what is believed to be the continent's first ever indigenous core banking solution called SeaBaaS.

The implementation of SeaBaaS, developed by Peerless, marks the completion of a new banking system announced to customers in August 2024.

According to a statement from the bank, the strategic move positions Nigeria as a leader in digital banking, driven by local talents and cutting-edge technology.

"Leveraging advanced data analytics and artificial intelligence, the system promises to enhance customer experience and operational efficiency, providing smarter, faster financial services" the statement added.

Speaking on the achievement, Abubakar Suleiman, CEO of Sterling Bank, said SeaBaaS is the first fully developed core banking platform that is wholly built and owned by an African technology company.

He described the development as the start of a new revolution in Africa's drive for economic self-sufficiency, noting that the intellectual property underpinning SeaBaas will be available to partners across the continent in the coming months.

Read the original article on Vanguard.

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