This milestone highlights that TymeBank now serves one in every five eligible South Africans.
TymeBank’s success is attributed to a number of factors, including its innovative “phygital” model, which integrates digital banking into physical retail environments.
TymeBank also has partnerships with major retailers such as Pick n Pay, Boxer, and TFG, which have helped to expand its distribution network.
In addition, TymeBank offers a range of affordable and accessible banking products and services, including free ATM withdrawals, low bank fees, and competitive interest rates.
This has made TymeBank an attractive option for many South Africans who are looking for a more affordable and convenient banking experience.
TymeBank’s CEO, Coen Jonker, commented on the milestone: “We are pleased to have acquired eight million customers since our launch in February 2019. This reinforces our position as a rapidly growing digital bank and a credible alternative to traditional banks in South Africa.”
“Our growth aligns with our goal of becoming one of the top three retail banks in the country,” Jonker added.
TymeBank’s success is a testament to the growing demand for digital banking in South Africa.
As more and more South Africans gain access to smartphones and the internet, digital banks like TymeBank are well-positioned to meet their needs.
TymeBank is also helping to promote financial inclusion in South Africa.
By offering affordable and accessible banking products and services, TymeBank is making it easier for more South Africans to participate in the formal economy.
Aruwa Capital Management, a leading early-stage growth equity fund, has announced a follow-on investment in AgroEknor, a prominent hibiscus flower exporter and wellness brand.
Israeli blockchain infrastructure company StarkWare, valued at $8 billion, has unveiled a $4 million fund to foster the growth of early-stage blockchain startups in Africa.
Oze, a Ghanaian fintech startup specializing in digital recordkeeping and financial services for micro, small, and medium enterprises (MSMEs), has received fresh funding from investors, including Visa and DEG.
© 2021 Empower Africa. All rights reserved.