Sterling Bank has become the first major Nigerian lender to eliminate transfer fees on its proprietary digital banking app, OneBank. The move, aimed at enhancing customer value, marks a significant shift in the sector’s approach to digital banking revenue.
Chief Executive Abubakar Suleiman said the decision was the result of years of digital investment, including the development of a custom callback system now processing over 180 million transactions, and a capacity to handle more than five million users.Â
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He also confirmed the bank’s full migration from a legacy European core system to a scalable, homegrown infrastructure, supported by a private cloud built to exceed current and future demands.
The zero-fee policy applies exclusively to OneBank users. New customers registering before 30 April will receive an AfriGo debit card and lifetime access to free transfers.
Growth Executive Obinna Ukachukwu described the initiative as both a gesture of appreciation to existing clients and an invitation to prospective ones.
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