NMB Bank has unveiled the NMB Mkononi Super App, a new digital platform that integrates banking, lending, insurance and investment services into a single application, as financial institutions intensify efforts to expand access to financial services through technology.
The launch marks a significant milestone in the bank’s digital transformation strategy and reflects the growing shift towards integrated financial platforms that allow customers to manage multiple services from their mobile phones.
Speaking during the launch in Dar es Salaam on Tuesday, NMB Bank Plc Chief Executive Officer, Ms Ruth Zaipuna, said the application was designed to provide a seamless financial experience for a broad range of customers, including students, salaried workers, farmers, entrepreneurs and investors.
“This is more than a banking application. It is a platform that creates opportunities and empowers customers to manage their financial needs conveniently through their mobile phones,” she said.
The new platform enables customers to access loans, insurance products, investment opportunities, payment services, group banking facilities and mobile communication bundles without the need to visit a bank branch for routine transactions.
In a move aimed at widening access to credit, eligible individual customers will be able to apply for loans of up to Sh2 million through the application, while qualifying small business owners can access financing of up to Sh5 million.
The launch comes at a time when Tanzania’s banking industry is experiencing rapid digitalisation, driven by increasing mobile phone penetration and growing demand for convenient financial services.
Banks are increasingly competing to offer integrated digital solutions that reduce transaction costs and improve customer experience.
While digital lending has enhanced access to finance, financial sector analysts argue that it also underscores the importance of financial literacy.
They note that borrowers need adequate understanding of loan terms, repayment obligations and borrowing costs to make informed financial decisions and avoid over-indebtedness.
NMB Head of Innovation, Ms Josina Njambi, said the bank had simplified account opening through the application, enabling customers to open accounts using only their mobile phone number and National Identification Authority (NIDA) number in approximately five minutes.
She said the platform was designed not only to provide financial services but also to support customers in developing sound financial habits, including saving, investing and responsible borrowing.
“The long-term value of digital platforms lies in their ability to help customers make informed financial decisions while improving access to essential financial services,” she said.
Industry observers view the launch as part of a broader transformation of Tanzania’s financial sector, where technology is increasingly becoming the primary channel for delivering banking services to individuals and businesses.
By bringing together multiple financial products under one platform, NMB is positioning itself to meet changing customer expectations while supporting national efforts to deepen financial inclusion and expand access to formal financial services across the country.
