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 support faster, more seamless and personalised banking while strengthening the bank’s resilience and capacity for innovation.
Announcing the development in Dar es Salaam yesterday, NMB Managing Director and CEO Ruth Zaipuna described the migration as the largest technology investment in the bank’s history, saying it was a strategic investment in the institution’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.
According to her, the previous platform was introduced in 2011, when NMB had about 1.8 million customers and assets of roughly TZS2 trillion. Today, the bank has more than 10 million customer accounts and assets exceeding TZS18 trillion, while its services have expanded to include agency banking, NMB Mkononi, internet banking and a growing range of digital and fintech-enabled solutions.
“The new platform is therefore intended to support a significantly larger and more digitally driven NMB, with the bank targeting more than 20 million customer accounts by 2030.”
The transformation is expected to deliver faster transaction processing, greater system stability and security, improved scalability and a stronger ability to introduce new products and services.
NMB Chief Technology and Digital Transformation Officer Kwame Makundi said the project should be viewed as a bank-wide digital transformation because it changes not only the underlying technology but also how the bank serves customers, operates 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,” he 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 deliver a better customer experience as the bank implements its Agenda 2030 strategy.
A major benefit will be greater personalisation, with the platform giving NMB stronger capabilities to analyse customer information and develop financial solutions based on individual circumstances, transaction patterns and borrowing behaviour.
One practical example is the expansion of Mshiko Fasta through NMB Mkononi, under which eligible individual customers can access up to TZS2 million, while qualifying small and medium-sized businesses can access up to TZS5 million digitally, subject to the bank’s assessment.
The new technology is also expected to make integration with fintechs and other digital platforms faster and easier, accelerating the development of new financial solutions.
For corporate and institutional customers, NMB has introduced a new internet banking platform with an upgraded user experience and expanded functionality. Businesses can make bulk payments of up to 20,000 transactions at once, while trade-finance customers can track transactions such as letters of credit digitally.
Mr Makundi said the platform will also improve operational efficiency by streamlining and consolidating processes, reducing manual work and allowing employees to devote more time to customer-facing activities. It will strengthen business continuity, disaster recovery and cybersecurity while providing a more resilient technology backbone.
Ms Zaiouna said the migration itself was a complex undertaking involving about 10 million customer accounts, millions of transactions and large volumes of financial data. Preparations began two years ago, with extensive testing, quality assurance and rehearsals conducted before the final migration.
She said the old system was shut down at 6pm on July 31, 2026, and the migration took longer than initially anticipated. More than 540 employees, including about 200 customer-support staff, worked alongside technology vendors and implementation partners to complete the transition.
Services were restored progressively after systems were tested, with branches reopening first, followed by digital channels. NMB also acknowledged that some customers experienced transaction-related challenges during the transition and said 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.
For NMB, however, the transformation represents more than the replacement of a legacy 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 the bank advances its Agenda 2030 strategy, the new Core Banking System is expected to underpin its growth, digital innovation and capacity to serve millions more customers in the years ahead.
