By Alex Malanga
Dar es Salaam — NMB
Bank will work with Financial Technology (Fintech) firms and
individuals to come up with products that will benefit late-stage
startup companies.
On Tuesday, the
bank piloted a new Fintech initiative-programme through an information
session that
was conducted in collaboration with Smart Lab. Smart Lab is
a locally-grown innovation and acceleration lab. Fintech refers to
software and other modern technologies used by businesses that provide
automated and improved financial services.
Fintech seeks to
serve tech-savvy customers who expect money transfer, lending, loan
management and investing to services that are conducted effortlessly,
securely and that they must also be scalable and without the assistance
of a person or the visit of a bank.
"This programme
will be a great addition and will endorse our existence as a bank of
acquiring knowledge and interaction together with answering our cause
for driving financial inclusion through the achieved solutions," said
NMB Bank's innovation hub senior specialist Paul Shilla at the
information session in Dar es Salaam. The new programme aims at enabling
Fintech startups, developers, IT/Computer Science students, innovators
and entrepreneurs to prototype, test, and build fin-tech products and
services using the NMB Bank's infrastructure.
He told the 50
participants - taken from Fin-tech startups, developers, IT/Computer
Science students, innovators and entrepreneur.
The bank believes
that newly introduced products and services have the potential to drive
financial inclusion to markets they are serving as well as building
exposure and opening doors to meeting different people from different
sectors.
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"Anyone who is an
entrepreneur, application developers, Startup companies, Fintech and IT
companies with potential financial products and solutions are all urged
to apply through the NMB portal bit.ly/NMBFINTECH as long as they are
past idea stages and have prototypes, financial element and are looking
for a bank partner to help them scale up," he said. Smart Codes chief
executive officer Edwin Bruno, said the programme would be a boost to
the Fintech industry.
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