From free burgers and ride-hailing services to hip-hop concerts and discounted petrol: South African banks are going all out to win customers as competition hots up.
The decision by Standard Bank to close 91 branches and cut 1 200 jobs is not at all surprising – the only surprises were that the bank announced it publicly and that it did so before elections in May.
As new banks with radically different cost structures enter the market, the question is whether South Africa’s large banks are well placed to respond to the digital onslaught.
Bank Zero will be an app-driven bank, not an Internet bank, a digital bank or a virtual bank, and will not rely on physical branch infrastructure, according to chairman Michael Jordaan.
Former First National Bank CEO Michael Jordaan’s new financial services venture, the app-driven Bank Zero, has been integrated with the national payments system and will now begin trial runs ahead of commercial launch.
For most, owning a wine farm on a mountainside close to the sea, surrounded by family and friends, would be all they ever needed. But for Michael Jordaan, former CEO of one of South Africa’s biggest consumer lenders
In this episode, your hosts Duncan McLeod and Regardt van der Berg chat about the week’s biggest technology stories, including Michael Jordaan and Yatin Narsai’s new digital bank. Also in the episode, they delve into Cell C’s plan
Bank Zero appears set to accelerate the evolution of the South African banking industry by offering a fresh take on banking and highly competitive fees. The bank – the brainchild of tech entrepreneurs and banking innovators Michael
Former First National Bank CEO Michael Jordaan on Tuesday revealed in a tweet that he is backing a new digital-only bank, called Bank Zero, to be launched in South Africa later this year. In a post on Bank Zero’s newly launched