Completion of Major Core Banking Transformation at NMB Bank
Latest Tanzania finance news · Completion of Major Core Banking Transformation at NMB… explained · updated Aug 20, 2026 · economy news · GDP · investment
TLDR
- NMB Bank has completed a major transformation of its core banking technology, migrating from a 15-year-old system to a new-generation platform.
- The migration is described as the largest technology investment in the bank's history, aimed at supporting future growth rather than just replacing an old system.
- NMB's previous platform was introduced in 2011, when the bank had about 1.8 million customers and assets of roughly TZS2 trillion.
- Currently, NMB has over 10 million customer accounts and assets exceeding TZS18 trillion, with plans to reach more than 20 million accounts by 2030.
- The new platform is expected to enhance transaction processing speed, system stability, security, and scalability, while accommodating emerging technologies like artificial intelligence.