Tanzania-based NMB Bank has moved its core banking operations to Oracle Flexcube Universal Banking 14.7, retiring a system that had supported the bank for approximately 15 years. The new platform is intended to provide a scalable foundation for the bank’s digital banking services, customer acquisition plans, and long-term growth.
From 1.8 million to 10 million accounts
NMB Bank implemented its previous core system in 2011, when it managed around 1.8 million customer accounts. That number has since grown to 10 million, while the bank has also expanded its branch, ATM, and agent banking network. NMB Bank currently operates 248 branches, 735 ATMs, and more than 73,000 Wakala agents across Tanzania, supported by over 4,000 employees.
The bank plans to double its customer base to 20 million accounts by 2030, serving individuals, farmers, SMEs, corporates, institutions, and government entities. Ruth Zaipuna, CEO of NMB Bank, presented the migration as a strategic initiative focused on future growth. She presented the project as a strategic initiative focused on future growth rather than a replacement of legacy infrastructure.
Implementation delivered by Profinch
Oracle Financial Services integration partner Profinch delivered the implementation. The project reportedly covered more than 36 business areas and included over 100 customisations tailored to NMB Bank’s operational and business requirements. With Flexcube 14.7, the bank now runs on a core platform built to handle growing transaction volumes, support the development of new products, and power its digital banking services as customer demand increases.
The migration reflects a broader trend across Africa’s banking sector, where financial institutions are modernising core technology systems to improve scalability, operational efficiency, and customer experience. The project also highlights the growing investment banks are making in modern core platforms to replace legacy systems. For NMB Bank, the new core is intended to support its target of doubling its account base by 2030 as transaction volumes and demand for digital services continue to rise.
