NMB COMPLETES MAJOR CORE BANKING TRANSFORMATION TO DRIVE FASTER, SEAMLESS BANKING

NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna speaks in Dar es Salaam following completion of the bank’s migration to a new core banking system. She said services had resumed and full banking operations had stabilised.

NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna speaks with members of staff after announcing completion of the bank’s core banking system migration and the full restoration of services.

DAR ES SALAAM - August 20, 2026: NMB Bank has completed a major transformation of the technology at the heart of its operations, migrating from a 15-year-old Core Banking System to a new-generation platform designed to deliver faster, more seamless and personalised banking while strengthening the bank’s resilience and capacity for innovation.

Announcing the milestone in Dar es Salaam, NMB Managing Director and Chief Executive Officer Ruth Zaipuna described the migration as the largest technology investment in the bank’s history, emphasising that it represents a strategic investment in NMB’s next phase of growth rather than simply a replacement of an ageing system.

“The new state-of-the-art core banking system positions NMB to respond more effectively to rapidly changing customer needs while creating greater capacity to develop and deploy new digital banking solutions,” Ms Zaipuna said.

FROM 1.8 MILLION TO MORE THAN 10 MILLION CUSTOMERS

According to Ms Zaipuna, NMB introduced its previous core banking platform in 2011, when the bank had approximately 1.8 million customers and assets of about TZS 2 trillion.

Today, NMB has more than 10 million customer accounts and assets exceeding TZS 18 trillion, while its services have expanded significantly to include agency banking, NMB Mkononi, internet banking and an expanding range of digital and fintech-enabled solutions.

The new platform is therefore designed to support a significantly larger and increasingly digital NMB, with the bank targeting more than 20 million customer accounts by 2030.

The transformation is expected to deliver faster transaction processing, enhanced system stability and security, improved scalability and greater capacity to introduce new products and services.

TECHNOLOGY TRANSFORMATION BEYOND THE CORE SYSTEM

NMB Chief Technology and Digital Transformation Officer Kwame Makundi said the project should be viewed as a bank-wide digital transformation rather than simply a technology upgrade.

He explained that the transformation is changing not only the underlying technology but also how NMB serves customers, operates its branches, develops products and connects with digital partners.

“The new platform is designed to accommodate emerging technologies, including artificial intelligence, while enabling NMB to respond more effectively to changing customer expectations for faster, simpler and more personalised banking,” Mr Makundi noted.

Speaking during the Power Breakfast show on Clouds FM, Ms Zaipuna said the new platform will enable NMB to accelerate innovation, improve operational resilience and enhance customer experience as the bank implements its Agenda 2030 strategy.

MORE PERSONALISED DIGITAL BANKING

One of the major benefits of the new system will be enhanced personalisation.

The platform gives NMB stronger capabilities to analyse customer information and develop financial solutions based on individual circumstances, transaction patterns and borrowing behaviour.

A practical example is the expansion of Mshiko Fasta through NMB Mkononi, under which eligible individual customers can access loans of up to TZS 2 million, while qualifying small and medium-sized businesses can access up to TZS 5 million digitally, subject to the bank’s assessment.

The new technology is also expected to make integration with fintech companies and other digital platforms faster and easier, creating greater opportunities for NMB to develop innovative financial solutions.

NEW DIGITAL PLATFORM FOR CORPORATE CUSTOMERS

For corporate and institutional customers, NMB has introduced a new internet banking platform featuring an upgraded user experience and expanded functionality.

Businesses can now make bulk payments involving up to 20,000 transactions at once, while trade-finance customers can digitally track transactions such as letters of credit.

Mr Makundi said the new platform will also improve operational efficiency by streamlining and consolidating processes, reducing manual work and enabling employees to devote more time to customer-facing activities.

It is further expected to strengthen business continuity, disaster recovery and cybersecurity while providing NMB with a more resilient technology backbone.

COMPLEX MIGRATION INVOLVED MILLIONS OF TRANSACTIONS

Ms Zaipuna said the migration was a highly complex undertaking involving approximately 10 million customer accounts, millions of transactions and large volumes of financial data.

Preparations began two years ago, with extensive testing, quality assurance exercises and migration rehearsals conducted ahead of the final transition.

She said the old system was shut down at 6pm on July 31, 2026, with the migration taking longer than initially anticipated.

More than 540 NMB employees, including approximately 200 customer-support staff, worked alongside technology vendors and implementation partners to complete the transition.

Services were progressively restored after systems underwent testing, with branches reopening first, followed by digital channels.

NMB also acknowledged that some customers experienced transaction-related challenges during the transition, saying outstanding cases were subjected to reconciliation and resolution.

Ms Zaipuna apologised to customers for the disruption and thanked them for their patience and continued trust during the migration.

TECHNOLOGY FOUNDATION FOR NMB’S NEXT PHASE OF GROWTH

For NMB Bank, the transformation represents far more than the replacement of a legacy technology platform.

It provides the technological foundation for a bank seeking to become faster, more intelligent, more personalised and more deeply integrated with Tanzania’s expanding digital economy.

As NMB advances its Agenda 2030 strategy, the new Core Banking System is expected to play a critical role in supporting the bank’s growth, digital innovation and ability to serve millions more customers in the years ahead.

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