There is a frequent misconception in discussions around digital banks, namely that digital banks and traditional banks differ only at the surface. There’s much more to it. By TymeBank CEO Tauriq Keraan.
Browsing: TymeBank
The rationale for introducing new players in the South African banking industry appear to be based, for the most part, on the wrong notions. By Rabelani Dagada.
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.
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.
The proliferation of digital financial service providers may see a more streamlined Fica process in future, though this may give rise to privacy concerns.
TymeBank, owned by South African billionaire Patrice Motsepe, has started signing up customers for its new online bank, one of a number of entrants planning to steal clients away from traditional lenders.