Global payments firm Thunes has entered a strategic partnership with Sterling Bank to make cross-border payments faster and more accessible for Nigerians living abroad, as demand for seamless remittance services continues to rise.
The collaboration allows Sterling Bank to leverage Thunes’ Direct Global Network to deliver instant and transparent cross-border payments, particularly targeting Nigerians across multiple European markets. The move is expected to significantly improve how funds are sent home, offering a more reliable alternative to traditional remittance channels.
With an estimated 17 million Nigerians living and working overseas, remittances remain a critical financial lifeline for households and businesses at home. Thunes said the partnership is designed to meet this growing need by reducing friction in international money transfers and ensuring funds reach beneficiaries quickly.
Through the alliance, both new and existing Sterling Bank account holders can now fund their Nigerian accounts seamlessly from foreign bank accounts, enabling instant cross-border payments and improved financial management for users in the diaspora.
Recent research by Thunes highlighted the importance of remittances in everyday financial planning, showing that 46 per cent of diaspora consumers across Europe consider sending money home as essential as paying rent or utility bills. This underscores the need for a dependable payment infrastructure that matches the frequency and importance of these transactions.
Daniel Parreira, Senior Vice President for Sales in Africa at Thunes, said welcoming Sterling Bank into the company’s Direct Global Network reflects growing trust in its infrastructure across the continent. He noted that the partnership enables greater speed, convenience and confidence for customers managing finances across borders, while reinforcing Thunes’ commitment to making global money movement instant and accessible.
Ayodeji Saba, Head of Switch and Remittances at Sterling Bank, said the partnership aligns with the bank’s focus on easing cross-border payments for Nigerians abroad. He explained that the collaboration provides customers with a faster, more reliable and more affordable way to fund their Sterling Bank accounts from overseas, marking a significant improvement in the diaspora banking experience.
Beyond remittances, the partnership is positioned to support financial inclusion and community empowerment by helping individuals and small businesses maintain better financial oversight and spend more effectively. It also advances Thunes’ broader goal of connecting the next billion users in emerging markets to the global financial system.
