Podcast | TechCentral spoke to Bank Zero co-founder and executive director Lezanne Human about its launch plans and what is involved in launching a new bank in South Africa from a regulatory and technology perspective.
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Bank Zero has announced its account pricing as it edges closer to launch. The digital-only bank says “basic banking should be free and extras should be paid for – not the other way round”.
Fintech is rapidly transforming the very essence of global financial services. Here are predictions for the financial services market for 2020 based on what we’ve observed globally and locally. By Dominique Collett.
Bank Zero, the digital bank backed by former First National Bank CEO Michael Jordaan, is on track to launch in the first half of next year and is promising innovations to stamp out card fraud.
First National Bank’s new First Business Zero Account, with no monthly fees, has made competitors sit up and take notice.
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.