Banking IT platform extends reach of Tanzania's NMB to rural areas
The National Microfinance Bank (NMB), Tanzania's largest bank ranked by branch network and customer base, has been enabled to launch "innovative" products and services through a platform which reduces operational costs.Oracle's FLEXCUBE Universal Banking and Direct Banking platform helps banks to adapt to changing and demanding regulatory requirements, as well as supporting financial institutions in improving their ability to reach to consumers. Tanzania's NMB has been able to draw on improved customer insight via the platform to introduce new products to a wider market.
By deploying the Oracle FLEXCUBE, the bank will be able to provide decentralised branch operations to enable rural communities and those on the edge of urban areas in the country to benefit from a range of financial services.
Ben Christiaanse, Chief Executive Officer of NMB, said: "We recognise IT as a key enabler for continuing our growth across the region as we support our business in urban, surrounding areas and especially rural communities across Tanzania."
He added by managing operations centrally, the organisation can sustainably grow and expand the range of services it offers, allowing the bank to "stay ahead of the competition".