Sterling Bank, Thunes Partner to Simplify Diaspora Cross-Border Payments
- Jan 7
- 2 min read
Sterling Bank has entered a strategic partnership with global payments firm Thunes to improve cross-border money transfers for Nigerians living abroad, marking a significant step in expanding financial access for the diaspora community.
The collaboration is designed to make it faster and easier for Nigerians overseas to send funds home, addressing long-standing challenges around delays, high costs, and limited transparency in international remittances. With millions of Nigerians residing and working outside the country, remittances remain a critical lifeline for households and small businesses.
Under the arrangement, Sterling Bank will leverage Thunes’ Direct Global Network to enable instant and seamless transfers from multiple European markets directly into Sterling Bank accounts in Nigeria. The move is expected to provide diaspora customers with more predictable and reliable payment experiences.
The enhanced service allows both new and existing Sterling Bank customers to fund their Nigerian accounts directly from foreign bank accounts, reducing reliance on intermediaries and informal channels. This approach is aimed at improving speed, consistency, and confidence in cross-border transactions.
Industry data shows that sending money home is a routine and essential financial obligation for many diaspora residents, often comparable to regular expenses such as rent or utilities. The partnership responds directly to this reality by prioritising efficiency and user experience.
Executives from both organisations say the alliance reflects a shared commitment to financial inclusion and innovation. By combining Sterling Bank’s local expertise with Thunes’ global payment infrastructure, the partners aim to strengthen financial connections between Nigerians abroad and the domestic economy.
Beyond convenience, the initiative is positioned as part of a broader effort to integrate more users in emerging markets into the global financial system, while empowering families to better manage finances and support economic activity at home.
The partnership further underscores Sterling Bank’s growing focus on diaspora banking and Thunes’ expansion strategy across Africa, as both institutions seek to play a larger role in the future of cross-border payments.
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