2 banks share branches to improve service delivery

Dar es Salaam. TIB Corporate Bank customers can now deposit their money through any of the Tanzania Postal Bank (TPB) branches, thanks to a pact signed by the two lenders.
TIB Corporate Bank which split from the TIB Development Bank last year said it embarked on the strategic partnership to enable its customers to enhance their business activities through the additional channels for their business operations.
TPB has 32 branches.  “TIB’s partnership with TPB is in line with the bank’s vision of leading the way in product and service delivery. The strategic collaboration is one of many that will enable the bank to implement its strategy aimed at supporting the economic growth of the nation,” said the bank’s managing director, Mr Frank Nyabundege.
He explained that the partnership would ensure that transactions are more secure as the automation would eliminate errors originating from manual work.
The two banks agreed to create a common platform that connects TIB with the 32 TPB branches.
 Both organisations have taken measures to ensure high level of security on the platform.
Mr Nyabundege added that once funds are deposited at a TPB branch, the amount is reflected in the receiver’s account instantly.
 TPB chief executive officer Sabasaba Moshingi said  customers would also benefit from the partnership. “Some of our customers carry out business activities with TIB account holders. This initiative will, therefore, further enhance business activities amongst the two banks’ account holders.”
 Mr Moshingi is pleased with the partnership given TPB’s wide network in Tanzania. “Our bank has over 30 full-fledged and 30 mini branches in Tanzania.”
 Our partnership with TIB will cover all the regions where our branches are located,” he added.
 TPB has a similar partnership with Standard Chartered Bank Tanzania.