Sterling Bank, Nigeria, Completes Temenos IT Transformation Project

Temenos , the software specialist for banking and finance, announces that Sterling Bank, Plc, has successfully gone live with Temenos Universal Suite.

Sterling Bank, “the one-customer bank” is a full-service commercial bank, which has been serving Nigerian customers for over 50 years. Its asset base exceeds N890 Billion and its shareholders’ funds are above N82 billion.

The Nigerian bank offers both Retail and Corporate Banking services to more than 1.4 million customers. The bank’s move to replace its existing legacy systems with Temenos core banking solution will support ambitious growth plans, including reaching customers in new geographical locations and improve its ability to bring new products to market.

The bank went live with an ambitious ‘Big Bang Approach’ across all its 185 branches simultaneously, allowing the whole business to benefit from the new technology in the quickest time frame.

Jean Paul Mergeai, Regional Director at Temenos commented: “We are very pleased with Sterling Bank’s trust in our products and services which will enable the bank to execute its growth plans – attracting new niche customers and expanding regional operations. By selecting Temenos core-banking solution to underpin its IT transformation, Sterling Bank is leveraging the technology that should give them a competitive edge in a fast moving market, increase operational efficiency, reduce risks and improve customer service. I would like to congratulate Sterling Bank on the achievement and delivery of such an important program and milestone.”

Yemi Adeola, CEO at Sterling Bank, commented: “Technology has become the backbone of the global banking system today and as an institution, we are committed to continuously making the necessary investments to ensure we deliver the one-customer experience to all our customers. Our choice of Temenos is founded on their impressive track record and reliable service delivery; a trait synonymous with the core values we hold dear”.