Banks showcases products at Africa internal audit summit

By Marc Nkwame , The Guardian
Published at 09:47 AM Apr 19 2024
Vice President Dr Philip Mpango
Photo: Courtsey Of VPO
Vice President Dr Philip Mpango

NMB Bank’s innovative initiatives and impactful investments to advance customer experience and drive inclusive finance have impressed local and foreign auditors attending the sectoral convention that ends today in Arusha city.

Officers serving delegates who toured the branded NMB tent at the AICC grounds said major attractions include the NMB Pesa account product which the lender uses to foster financial inclusion by turning banking into a stress-free activity.

The innovative product on which NMB pegs its hope to open 1.5 million new accounts this year and support the ongoing village banking strategy, include its digital opening at only 1,000/- and the instant connection to the unsecured Mshiko Fasta digital loans service.

According to Praygod Mphuru, NMB Clock Tower Branch Manager, the bank is one of the sponsors of the three-day 10th African Federation of Institute of Internal Auditors (AFIIA) Conference 2024 themed ‘Beyond Boundaries: Make a Difference’.

The summit, whose official opening on Wednesday was graced by Vice President Dr Philip Mpango was preceded by a two-day governance forum which the bank’s officials also fully attended to network, share experiences and learn new dynamics and trends in the global auditing space.

The two gatherings attracted nearly 2,000 participants with most of them coming from Tanzania and other 26 African countries.

Mphuru said NMB used the opportunity to showcase its service excellence, product innovation prowess and the huge investments it continues to make in new technologies.

“All the delegates visiting our stand have been impressed by what they have learnt about our operations and the premium services we offer,” he said.

Another financial solution being showcased at the conference hosted by the Institute of Internal Auditors (IIA) Tanzania is the NMB Bancassurance service whose popularity includes quick claims processing, competitive packages and flexible payment options.

The delegates were also enlightened about NMB mortgage lending whose features include the 1bn/- maximum loan amount payable in 20 years at highly competitive interest rates and the refinancing option for clients already owning houses.

“We are also showcasing our rich customer-value propositions that support the needs of various market segments in terms of payment solutions, trade finance and forex solutions to mention but a few,” Mphuru said.

Another attraction was NMB’s cashless transactions drive and its catalytic role in promoting the digital economy in Tanzania.

The optimized investments in technology to enhance customer experience and improve efficiency have enabled the bank to create a highly dynamic digital infrastructure in the country, Mphuru said.