Thunes, a leading global payment network, has announced a groundbreaking partnership with Sterling Bank, one of Nigeria’s premier commercial banks, to provide seamless cross-border payment solutions for Nigerians living abroad. This collaboration marks a significant leap forward in making money transfers easier, faster, and more reliable for the Nigerian diaspora, offering a more efficient way to send funds back home.

With over 17 million Nigerians residing outside the country, the demand for accessible, secure, and rapid financial channels to send money home has surged. This partnership taps into the growing need for more transparent, convenient financial connections to Nigeria.

Leveraging Thunes’ Direct Global Network, Sterling Bank will expand its cross-border payment capabilities across various European markets. This will allow Nigerians abroad to enjoy a streamlined process when sending money to their families and managing their finances more effectively.

Instant and Seamless Cross-Border Transactions

Through this collaboration, both new and existing Sterling Bank customers will now be able to make instant, seamless payments from abroad. This marks a new chapter in cross-border payments, offering a much-needed solution for the Nigerian diaspora.

A Rising Demand for Cross-Border Transfers

Thunes recently revealed that nearly half (46%) of diaspora consumers in Europe regularly send money home, making remittances as essential as paying for rent or utilities. This underscores the importance of providing dependable and quick payment solutions to meet the evolving needs of the Nigerian diaspora.

Expanding Across Africa

Daniel Parreira, Senior Vice President of Sales for Africa at Thunes, expressed excitement over the partnership, calling it a major milestone in the company’s efforts to expand across Africa. He said: “By welcoming Sterling Bank into our Direct Global Network, we are taking a significant step in improving cross-border payments. This partnership will offer customers faster, more reliable, and affordable services. We are committed to making global money movement transparent, instant, and accessible for everyone.”

Strengthening Sterling Bank’s Global Reach

Ayodeji Saba, Head of Switch & Remittances at Sterling Bank, highlighted the strategic importance of this collaboration. “This partnership exemplifies Sterling Bank’s dedication to simplifying cross-border payments for Nigerians abroad. Thunes’ trusted technology allows us to provide a more efficient and cost-effective way for our customers to fund their accounts from international bank accounts. It’s a major improvement for the Nigerian diaspora,” Saba said.

Supporting Financial Inclusion

This partnership is rooted in a shared commitment to financial inclusion and empowering communities. By improving access to financial services, it helps Nigerians living abroad maintain better financial oversight and manage their spending more effectively. Additionally, the partnership aligns with Thunes’ mission to integrate the next billion users from emerging markets into the global economy.