#Thunes #Nigeria #Lagos #Cross-Border Payments #Sterling Bank

Sterling Bank Partners with Thunes for Global Payments

In a groundbreaking move, Thunes, the renowned facilitator of international money transfer, has officially announced a strategic partnership with Sterling Bank, one of Nigeria’s elite full-service commercial banks. This collaboration aims to revolutionize cross-border payment facilities for the approximately 17 million Nigerians residing in countries worldwide. As immigration continues to shape demographics, the need for fast, reliable, and transparent financial services has never been more pressing.

A New Era of Financial Connectivity

This partnership is particularly timely, as Nigerians abroad frequently engage in sending remittances back home, often likened to managing routine financial obligations like rent or utilities. Through Thunes' expansive Direct Global Network, Sterling Bank is poised to enhance accessibility to swift and uncomplicated money transfer methods for its customers in diverse European regions.

Improved Financial Experience for the Diaspora

The collaboration allows both existing customers and new account holders at Sterling Bank to benefit from the instant cross-border payment capabilities. Recent studies from Thunes highlighted that close to 46% of diaspora community members in Europe regularly send money home, reflecting an urgent need for efficient financial transactions. With this initiative, Sterling Bank is stepping up to support their expatriate clientele,
offering them a reliable lifeline to manage their finances effectively.

Insights from Leadership

Highlighting the importance of this venture, Daniel Parreira, Senior Vice President of Sales for Africa at Thunes remarked, "Welcoming Sterling Bank into our Direct Global Network is a significant milestone as we expand our footprint across Africa. We are committed to offering unprecedented convenience, speed, and reliability, allowing customers to manage their cross-border finances effortlessly."

Adding to this, Ayodeji Saba, the head of Switch Remittances at Sterling Bank, expressed, "This partnership underscores our commitment to enriching the banking experience of Nigerians abroad. With Thunes’ trusted technology backing us, we are enabling quicker and more affordable ways for our customers to fund their Sterling accounts from overseas.”

Commitment to Financial Inclusion

The partnership is not just about enhancing payment modalities; it signifies a dedicated effort by both Thunes and Sterling Bank to drive financial inclusion, empowerment, and effective governance. This initiative aligns with Thunes' broader mission to bring the next billion individuals in emerging markets into the global economy, ensuring they have the necessary tools to thrive financially.

With global migration trends expected to mend and bind communities, providing much-needed financial infrastructure will be critical for individuals supporting families back in Nigeria. Overall, this partnership can streamline remittance processes considerably while fostering stronger ties between expatriates and their homeland.

For detailed information and updates, you can visit Thunes and Sterling Bank.

This partnership could very well set a benchmark in cross-border payments, making it more accessible and efficient for millions of Nigerians globally.

As the landscape of digital banking and financial services continue to evolve, collaborations like this pave the way for a more interconnected and financially empowered global community.