NCBA Boosts Financial Inclusion In East Africa With the Launch Of ‘NCBA Now App’

By Victor MUJIDU

NCBA Group has unveiled its innovative banking omni-channel application, NCBA Now, in Tanzania in a bid to enhance digital banking penetration and offer a better overall experience for its customers.

The NCBA Now App offers real-time account monitoring and card management, service requests and customizable alerts, fund transfer options, bill payments, and instant mobile wallet transactions, providing a seamless banking experience on both mobile and web.

Speaking during the unveiling of the revamped NCBA Now App in Tanzania, NCBA Group Managing Director John Gachora said the initiative is a turning point in boosting the market and improving services for customers.

“The new NCBA Now app we are unveiling today is a testament to our continued pursuit of innovation and a good customer experience. As a digitally led financial institution, we want to play a big role in enhancing financial inclusion across our markets in the East African region through innovative financial solutions that cater to market needs and also produce products that address the challenges our customers are facing.”

NCBA Now can be accessed through the App Store or Google Play Store, enabling customers to seamlessly manage their bank accounts from the palm of their hands.

The bank will be rolling out the revamped NCBA Now app in its other regional markets, Uganda, Rwanda, and Ivory Coast, further entrenching its digital banking penetration across East Africa and beyond.

During the launch, NCBA Tanzania also announced their 2023 full-year financial results ending December 31st, with a strong performance of profit after tax of TZS 20,164 billion, representing a remarkable 157 per cent growth rate. The bank also posted growth in customer deposits by 91.5 per cent to TZS 262,582 million. Total assets grew by 14.5 per cent to TZS 515,503 million.

The retail digital business at NCBA Bank, Tanzania, greatly impacted the financial performance in 2023. Worth noting is that with the bank’s M-Pawa digital lending, the bank disbursed TZS 100B worth of loans and an injection of TZS 25B worth of revenues.

These digital ventures have contributed to the group’s overall growth and reaffirm its commitment to meeting the dynamic needs of the fast-paced digital era.

Looking ahead, the rollout of NCBA Now is envisioned to further propel NCBA’s 2024 financial performance as it continues to redefine the banking experience and empower customers to achieve their financial goals with ease.

The bank will continue to take advantage of this state-of-the-art platform’s capabilities to roll out additional innovative digital solutions so as to meet its customers dynamic financial needs.