TymeBank customers will soon be able to apply for their IDs and passports in the banking app or via its in-store kiosks.
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TymeBank is in discussions with home affairs after the parties’ public spat over the hike in ID verification fees.
Some industry players believe the higher access fees to query the home affairs database will cause more harm than good.
Without accessible, affordable banking, SRD grant recipients will return to informal, cash-based systems.
Absa Group’s new CEO, Kenny Fihla, is aiming to turn the bank’s retail unit into the biggest in South Africa.
TymeBank is considering legal action to stop home affairs from implementing huge increases in the fees companies must pay to verify their clients’ identities.
Capitec has voiced its support for home affairs minister Leon Schreiber after TymeBank slammed a big jump in fees for client verification.
TymeBank co-founder Coen Jonker has slammed home affairs’ ID verification fee hike, warning it threatens financial inclusion and digital progress.
ARC Investments plans a JSE delisting, with moves afoot to bring the company back to South Africa from Mauritius.
Revolut, the world’s fourth-largest digital bank, has confirmed to TechCentral that it is interested in the South African market.