Key Developments

TymeBank: South Africa's Financial Disruptor, Reaches 8 Million Customer Milestone

TymeBank, a South African digital bank, has reached the 8 million customer milestone in just four years, a significant achievement for the rapidly growing financial institution.

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.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

© 2021 Empower Africa. All rights reserved.