“Now it’s much easier to open a bank account and transact, we are done with amassing government documents to open an account,” said Sudi Ndyanabo, a Mwenge based second hand clothing dealer who had his first bank account opened in less than half an hour when NMB Bank Plc’s ambassadors visited his shop.
“I had always wanted to open a bank account but the bureaucracy associated with the process discouraged me,” Ndyanabo argued saying several tech savvy youths doing petty businesses opened their accounts in what is becoming a popular product from NMB so far this year.
In order to open an account or simply transact using the new product, clients will need to download an NMB KLiK application which has been merged with NMB Mobile. For the account opening a national identity card with national identity number (NIN) is required to complete the registration process.
Speaking in Dar es Salaam during the product’s launch this week, NMB’s Chief Retail Banking, Filbert Mponzi said NMB Mkononi is a game changer in the market as it allows anyone based anywhere at any time transact even if they are not NMB Bank customers.
“With NMB Mkononi, anyone can open an account instantly through a feature or smart phone. They will be able to transfer money to mobile network operators up to 2m/-, transfer money from NMB account to other banks, pay bills for free, withdraw cash without an ATM card, and make payment of goods and services at Mastercard QR and Visa on mobile payment points,” Mponzi said.
He pointed out that the new brand name for the bank’s mobile platform is aimed to ensure that all Tanzanians, from all walks of life can resonate with the mobile banking services and be able to access NMB’s banking services easily in the palm of their hands.
Recent findings by FinScope Tanzania indicated that one of the main drivers of access to financial services has been the take-up of digital financial services which require mobile phone ownership with 63 percent of Tanzanians own mobile phones.
“NMB Bank is optimistic on increasing the number of customers from the current 3.5 million, through self-account opening on mobile phones and reaching the unbanked population,” the NMB Chief Retail Banking said.
With the new platform, customers can also be able to effect payment of different taxes through the government’s electronic payment system. “The re-launch of the innovative service revitalizes NMB’s customer- centric approach to our services, allowing them to have the convenience of accessing banking services anytime, anywhere. NMB Bank is the only bank in the market that allows customers and non-customers to send money from NMB account to other banks without visiting branches,” Mponzi added.
The rebrand will elevate NMB’s focus on the ability to provide a strong customer experience and financial services offering to well serve existing customers as part of celebrating customer service week.
“Our ability to provide strong customer experience while exhibiting unique brand values and products is a key differentiator in the market,” the NMB Chief Retail Banker stated.
The country’s largest commercial bank by branch network and net profits, has more than 220 branches, over 6,000 agents and more than 800 ATMs across the country with presence in all administrative districts of the country.
The bank has over three million customers and employs over 3,000 staff. It is listed at the Dar Es Salaam Stock Exchange with its largest shareholders being Netherlands based Rabobank which has 34.9 percent and Treasury with a 31.9 percent.