Nigeria: Sterling Bank partners Thunes to enhance cross-border payments

Sterling Bank has entered into a strategic partnership with global payments platform Thunes to improve cross-border payment services for Nigerians in the diaspora, offering faster and more seamless ways to send money home.

The collaboration responds to growing demand from an estimated 17 million Nigerians living and working abroad, many of whom rely on regular, secure and transparent remittance channels to support families and manage financial obligations in Nigeria.

Under the partnership, Sterling Bank is leveraging Thunes’ Direct Global Network to expand its cross-border payment capabilities across several European markets. The integration enables new and existing Sterling Bank account holders to receive instant international transfers directly into their accounts, simplifying remittance processes and reducing delays.

Thunes’ infrastructure, which connects financial institutions globally through a single network, allows funds to move quickly and reliably across borders. Research by Thunes indicates that 46 per cent of diaspora consumers in Europe view sending money home as a routine and essential financial activity, comparable to paying rent or utility bills.

Commenting on the partnership, Senior Vice President, Sales – Africa at Thunes, Daniel Parreira, said the collaboration represents a major step in the company’s African expansion.

“Welcoming Sterling Bank to our Direct Global Network marks another important milestone in our growth across Africa and reflects the confidence in our infrastructure. Together, we are delivering greater convenience, speed and trust for customers managing finances across borders, while advancing our mission to make global money movement instant, transparent and accessible,” he said.

Also speaking, Head of Switch and Remittances at Sterling Bank, Ayodeji Saba, said the alliance underscores the bank’s commitment to improving remittance experiences for Nigerians abroad.

“This partnership reinforces our focus on making it easier for Nigerians in the diaspora to send money home. By leveraging Thunes’ technology, we are providing a faster, more reliable and cost-effective way for customers to fund their Sterling Bank accounts from overseas. It is a significant step towards enhancing the financial experience of our diaspora community,” Saba said.

Both organisations noted that the partnership aligns with their shared commitment to financial inclusion and community empowerment, while supporting Thunes’ broader goal of bringing the next billion users in emerging markets into the global financial system.