National Microfinance Bank plc of Tanzania Selects Oracle(R) FLEXCUBE as Banking Plat

Oracle Press Release
National Microfinance Bank plc of Tanzania Selects Oracle(R) FLEXCUBE as Banking Platform

Tanzania’s Largest Bank to Leverage Centralized Deployment to Increase Operational Effectiveness

Reading, UK - July 15, 2010
News Facts

Oracle today announced that the National Microfinance Bank plc (NMB), Tanzania’s largest bank ranked by customer base and branch network, has selected Oracle(R) FLEXCUBE as its banking platform to increase operational effectiveness across its branch network.
With more than 130 branches, NMB aims to provide a complete spectrum of banking services to consumers, corporate and small and mid-sized businesses in Tanzania.
Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking will enable the bank to launch innovative products and services and provide superior customer service and delivery channels through a newly centralized control system.
Using Oracle FLEXCUBE, NMB also aims to provide a full range of financial services to rural communities and those on the edges of urban areas in Tanzania. With Oracle FLEXCUBE, it will be able to offer decentralized branch operations where there are potential connectivity issues.
Using a centralized deployment model of Oracle FLEXCUBE, the bank will be able to offer a consistent, high quality service across all delivery channels, including iBranch, ATM and Internet banking, among others.
Oracle FLEXCUBE Direct Banking will provide NMB with a 360-degree view of customer relationships, allowing for integration across all delivery channels in order to improve customer relationships and provide additional services where applicable.
Oracle FLEXCUBE Universal Banking will also enable NMB to offer customized solutions through enhanced customer insight, simulations and relationship pricing.
Supporting Quotes

“We recognize IT as a key enabler for continuing our growth across the region as we support our business in urban, surrounding areas and especially rural communities across Tanzania. Oracle FLEXCUBE gives us what we need to tailor our offerings down to the smallest of details, running ‘what if’ scenarios to establish which options will be best for our customers. We expect to stay ahead of the competition, identifying and introducing new products and services to market even more quickly than before. With real-time dashboards providing us the window through which we can oversee and manage our entire operations centrally, we are confident that we can sustainably grow, as we further expand our banking services coverage. Oracle’s vast experience in similar implementations and its understanding of the East Africa Banking market place in which we operate made Oracle FLEXCUBE a clear choice for NMB.” Ben Christiaanse, Chief Executive Officer, National Microfinance Bank plc.
“Oracle is excited to help NMB, the largest retail bank in customer base and branch network in Tanzania and one of the leading banks in East Africa, reach its business goals. NMB’s leadership and presence in the country will be further enhanced with Oracle FLEXCUBE deployment by reducing the time to market for new products, delivering better quality of customer services from a centralized facility and enabling personalization of services for the various customer segments serviced,” said K. Suryanaraynan, vice president and head of Africa regional sales, Oracle Financial Services Software.
Supporting Resources

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About National Microfinance Bank Plc

National Microfinance Bank Plc (NMB) is the largest bank in Tanzania ranked by customer base and branch network. The bank has over 130 branches located in more than 80% of Tanzania's districts. This broad branch network distinguishes NMB from other financial institutions in Tanzania by offering specialized banking services to rural masses in Tanzania.

The Government of Tanzania established the National Microfinance Bank Incorporation in 1997 with the intention of providing payment services, savings accounts and limited borrowing services.

The Government of Tanzania started the privatization process in 2005, and sold part of its shareholding (49%) to a consortium led by the Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. ('Rabobank Group') from Netherlands. In 2008 a second step in privatization was taken when the Government sold 21% of NMB shares to the public through an IPO.

About Oracle Financial Services Software Limited

Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. For more information, visit www.oracle.com/financialservices.

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Contact Info


Samuel Hall
Oracle
+44.118.924.6332
Samuel.hall@oracle.com



 










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