Sterling Bank taps Thunes to improve cross-border payments

By Vriti Gothi

Sterling Bank has joined Thunes’ Direct Global Network in a move aimed at improving cross-border payment flows for Nigerians living abroad, particularly across Europe. The partnership seeks to address persistent challenges around speed, transparency, and reliability in remittances to Nigeria, one of Africa’s largest recipient markets.

An estimated 17 million Nigerians reside overseas, making remittances a critical financial lifeline for households and a significant contributor to the domestic economy. By integrating with Thunes’ global payments infrastructure, Sterling Bank will enable its customers to receive funds from foreign bank accounts through instant, account-to-account cross-border transactions, reducing friction traditionally associated with international money transfers.

The rollout will initially focus on multiple European markets, reflecting demand patterns among the Nigerian diaspora. According to research cited by Thunes, 46% of diaspora consumers in Europe view sending money home as a regular financial obligation, comparable to essential expenses such as rent or utilities.

Daniel Parreira, Senior Vice President, Sales – Africa at Thunes, said “The collaboration supports the company’s broader expansion strategy on the continent. Welcoming Sterling Bank to our Direct Global Network marks another milestone in our growth across Africa. Together, we are enabling greater convenience, speed, and confidence for customers managing finances across borders.”

From Sterling Bank’s perspective, the partnership aligns with its focus on enhancing remittance services and improving access for diaspora customers. Ayodeji Saba, Head of Switch & Remittances at Sterling Bank, noted, “The integration allows Nigerians abroad to fund Sterling accounts more efficiently. With Thunes’ technology, we are offering a faster, more reliable, and more affordable way for our diaspora customers to send money home.”

The development underscores a broader trend among African banks partnering with global payment networks to modernise cross-border infrastructure, as competition intensifies in the remittances and international payments space. For the sector, such collaborations signal continued investment in real-time, account-based payment rails designed to support financial inclusion and deeper participation in the global economy.