Sterling Bank Limited has transitioned to SeaBaaS, believed to be the first fully indigenous core banking solution in Africa. Developed by Peerless, SeaBaaS represents a significant advancement in banking technology and was officially announced to customers in August 2024.
This strategic move establishes Nigeria as a leader in digital banking, powered by local talent and state-of-the-art technology. SeaBaaS utilizes advanced data analytics and artificial intelligence to improve customer experience and operational efficiency, offering smarter and faster financial services.
Abubakar Suleiman, CEO of Sterling Bank, highlighted that SeaBaaS is the first core banking platform entirely developed and owned by an African technology firm. He described this achievement as the beginning of a new era in Africa’s quest for economic self-sufficiency and announced that the intellectual property behind SeaBaaS will be available to partners across the continent soon.