Sterling Bank "SeaBaaS" Initiative

Bank Celebrates Zero Downtime, Surpasses 2 Billion Transactions

Nigeria's Number one Best Workplace in Banking and recognised as Africa’s most agile financial institution Sterling Bank Limited has marked the first anniversary of its SeaBaas initiative; a revolutionary core banking system designed and built in Africa.

SeaBaaS launched in 2024, is a system which leverages on advanced technologies such as Artificial Intelligence and Machine Learning to deliver enhanced customer experiences, greater operational efficiency, zero downtime, and scalability. 

It also helps to promote economic self-sufficiency in Nigeria and Africa fostering local innovation while reducing reliance on foreign technology which positions the continent of Africa as a technological exporter.  

One year after its go-live, SeaBaas has exceeded over 2 billion transactions, reduced processing time by about 60% and driven a 66% surge in customer adoption, setting new benchmarks for scale, efficiency and reliability in financial technology.

The platform has powered Sterling Bank's digital ecosystem, OneBank, SterlingPro, Switch, 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 in Africa.

Chief Executive Sterling Bank, Abubakar Suleiman said the laudable initiative is an indication Africa can build world-class technology as well resolve complex problems locally and scale globally describing the milestone as a collective victory for Sterling Bank staff, partners, and customers who believe 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. 

Suleiman explained that beyond a technology SeaBaaS has unlocked significant cost savings, freed resources for reinvestment and accelerated financial inclusion across Nigeria’s economy.

The Chief Executive said going forward, Sterling intends to build on the momentum by expanding SeaBaas capabilities to tackle bold challenges, reimagine financial systems as well showcase the potential of Africa's innovation on a global stage.