The CRDB Bank of Tanzania has indicated that the cost of banking will be reduced as a result of their plan to accept the new Tanzania National Identification Cards as an accurate source of customer information, which will provide users with easier access to bank products, including loans.
According to Dr. Charles Kimei, CRDB Bank Managing Director, not only will the cost of banking be cut, but the entire process of identifying and serving customers and potential customers will be improved as a result of this new initiative.
“Identifying potential borrowers will help CRDB Bank assess risks and costs on an individual basis and better determine the creditworthiness of each borrower, which will make loans more accessible to citizens,” he said adding that those customers currently without the ID can still use other documents for identification.
The pilot project will be launched first in Dar es Salaam and Zanzibar with the support of the Tanzania National Identification Authority (NIDA) and its Director General, Dickson Mwaimu.
