NMB Bank goes live on Oracle Flexcube to support digital banking

By Divya Shah

Why it matters: NMB Bank’s migration to Oracle Flexcube provides a scalable foundation for future growth and innovation while supporting ambitious customer acquisition targets. The project also highlights the increasing investment banks are making in modern core platforms to replace legacy systems and accelerate digital transformation.

Tanzania-based NMB Bank has gone live with Oracle Flexcube Universal Banking 14.7, the bank’s digital transformation journey and support for its long-term growth.

The new platform replaces NMB Bank’s previous core banking system, which had been in place for approximately 15 years. When the earlier system was implemented in 2011, the bank managed around 1.8 million customer accounts. Today, that figure has grown to 10 million accounts, alongside significant expansion of its branch, ATM and agent banking network.

NMB currently operates 248 branches, 735 ATMs and more than 73,000 Wakala agents across Tanzania, supported by a workforce of over 4,000 employees.

The bank aims to further expand its customer base to 20 million accounts by 2030, strengthening its position in Tanzania’s banking sector while supporting individuals, farmers, SMEs, corporates, institutions and government entities.

According to Business Insider Tanzania, Ruth Zaipuna, CEO of NMB Bank, described the migration as the largest technology investment in the bank’s history, positioning it as a strategic initiative focused on future growth rather than simply replacing legacy infrastructure.

The implementation was delivered by Profinch, a long-standing Oracle Financial Services integration partner. The project reportedly covered more than 36 business areas and included over 100 customisations tailored to NMB Bank’s operational and business requirements.

By adopting Oracle Flexcube 14.7, NMB Bank gains a modern core banking platform capable of supporting increasing transaction volumes, product innovation and digital banking services as customer demand continues to grow.

The deployment reflects broader trends across Africa’s banking sector, where financial institutions are modernising core technology systems to improve scalability, operational efficiency and customer experiences while supporting long-term digital transformation strategies.