Nigeria’s Sterling Bank has implemented a new core banking system from Temenos in a big-bang overhaul.

As part of this transformation, the bank rolled out Temenos UniversalSuite across all its 185 branches simultaneously to replace its existing legacy systems.

Sterling Bank CEO Yemi Adeola said: "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".

Sterling Bank has an asset base of more than NGN890bn ($2.8bn), and provides retail and corporate banking services to over 1.4 million customers.

The technology vendor said that its core banking system will facilitate the bank’s growth plans, allowing it to reach customers in new geographical locations and bring new products to market.

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By GlobalData

Temenos regional director Jean Paul Mergeai said: “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.”