Maendeleo Bank Secures Temporary National Licence, Launches Innovative Digital Banking Platform
Dar es Salaam – Maendeleo Bank has achieved a significant milestone by obtaining a temporary national licence from the Bank of Tanzania (BoT), marking a strategic expansion of its operational capabilities and customer reach across the country.
The bank’s leadership revealed the groundbreaking development during the official launch of their new internet banking platform, Click Bank Smile. The temporary national licence represents a crucial step towards the bank’s digital transformation and financial inclusion objectives for 2025.
CEO highlighted that the new licence enables the bank to enhance its Information and Communications Technology (ICT) systems, facilitating faster and more efficient service delivery. “This licence aligns perfectly with our strategic priorities to foster business growth through technological innovation,” the executive stated.
The newly introduced Click Bank Smile platform promises to revolutionize customer banking experiences by offering convenient, secure, and time-saving digital transaction capabilities. The bank is simultaneously working towards securing a permanent national licence to operate as a fully-fledged commercial bank.
Recent financial data indicates a promising trend in digital financial services, with formal financial service usage increasing from 65 percent in 2017 to 80 percent in 2023. The bank’s leadership emphasized that their digital banking initiative will contribute significantly to national economic growth and financial inclusion.
Addressing potential security concerns, the bank’s project manager assured customers that the new platform incorporates advanced security features to protect customer information and prevent cyber threats.
As part of its commitment to digital economic development, the bank encourages customers to embrace digital banking solutions that offer enhanced convenience and security.
