Tanzania: NBC launches online banking services

Apr 02, 2015

The services will allow users to perform 18 banking transactions through their mobile phone.

NBC Bank has launched a new range of online banking
services in Tanzania on March 31st.

Head of alternative channels Raymond Mutagahywa told Tanzania Daily News at the launch of the services that these can be accessed through smartphones, tablets and computers.

He said the new products allow customers to securely manage personal banking anytime and anywhere, including more than 18 routine transactions.

This comes a few months after Equity Bank launched a new mobile banking platform in Tanzania.

Dubbed EAZZY 24/7, it lets the bank's customers access banking services such as money transfer, bill payment, airtime top up, and checking an account balance using their mobile phone.

In addition, Rapid Communications, a remittance to mobile phone service, launched a mobile banking service in 2014 which allows Tanzanians to receive money from their acquaintances living in the United Kingdom and the United Arab Emirates directly on their mobile.

Mobile banking is more and more popular in the East African nation and Bank of Tanzania governor Benno Ndulu said he believes his country is "on the cusp of a phenomenal success" after seeing the number of adults with access to financial services double in the past five years, with mobile phones as "one of the most critical links" between the unbanked population and financial services.