Peerless launches SeaBaas Lite cloud banking for African MFBs and fintechs
Peerless launches SeaBaas Lite, a cloud-native core banking solution for microfinance banks and fintechs in Nigeria, Ghana, Rwanda and Kenya. Built on Huawei Cloud with local data residency to meet CBN and NDPR requirements, it's a streamlined version of their SeaBaas platform that's processed 4 billion transactions with 99.99% uptime.
The solution targets Nigeria's 900+ licensed microfinance banks still using costly legacy systems, plus scaling fintechs lacking infrastructure. SeaBaas Lite cuts transaction time by 60% through API-driven automation, provides pre-built CBN compliance reporting, and offers real-time analytics for lending/deposit tracking. Support operates from Lagos with a one-hour response SLA, understanding local network and compliance nuances.
Available now via subscription (OpEx model) with four-week deployment, institutions can visit https://bepeerless.co/seabaaslite. With legacy system maintenance becoming structurally expensive due to forex volatility and stricter CBN rules, will this affordable, compliant cloud option finally let African financial institutions innovate instead of just maintaining outdated tech?