Tanzania, Aug. 21 -- Dar es Salaam. NMB Bank's migration to a new core banking system is expected to expand the bank's capacity to process transactions, strengthen digital services and provide more tailored financial solutions to customers and businesses as the lender enters a new phase of growth.

The new system, which NMB describes as a major strategic technology investment, replaces the platform that has supported the bank's operations since 2011.

NMB chief executive officer Ruth Zaipuna said the upgrade was driven by the bank's rapid expansion and changing customer needs, rather than failure of the previous system.

"When we started using the previous system in 2011, the bank had approximately 1.8 million customer accounts. Today, we...