140,000 new clients are joining TymeBank each month: Making it the fastest-growing bank in the country

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  • Four million users have joined TymeBank by the end of October, and the digital bank continues to grow at an accelerated pace every month.
  • More than 140,000 new clients are joining the digital bank each month, according to the company, which recently announced plans to open kiosks in more businesses.
  • “Since April this year, slightly under 20% of new bank accounts have been established online, up from 15%, according to the spokesman for TymeBank.
  • More than 80% of accounts are opened at the in-store kiosks.
  • “The Covid-19 pandemic and growing trust and confidence in digital banking are driving the rapid surge in digital adoption among ordinary South Africans, according to Keraan. “

Four million users have joined TymeBank by the end of October, and the digital bank continues to grow at an accelerated pace every month.

More than 140,000 new clients are joining the digital bank each month, according to the company, which recently announced plans to open kiosks in more businesses.

TymeBank CEO Tauriq Keraan remarked, “We are thrilled to have reached a four-million customer base in around 32 months.”

In order to provide consumers with everything they need in a single banking account while allowing them to pay nothing (or close to nothing) on banking fees, we’ve increased our offerings and upgraded product functionality.” We’re on the correct path, based on the rapid increase in consumer numbers.”

Since April this year, slightly under 20% of new bank accounts have been established online, up from 15%, according to the spokesman for TymeBank.

What sets us apart from the competition is our unique hybrid strategy of digital banking and physical service points. More than 80% of accounts are opened at the in-store kiosks.”

The Covid-19 pandemic and growing trust and confidence in digital banking are driving the rapid surge in digital adoption among ordinary South Africans, according to Keraan. “That said, we’re seeing more clients using our digital channels,” said Keraan.

A collaboration approach with Pick n Pay and Boxer has been an important part of TymeBank’s strategy to gain customers and promote usage since its February 2019 launch, the bank stated.

The bank recently announced a cooperation with TFG as part of a strategy to attract more consumers from the middle and upper-middle classes (The Foschini Group).

In the last 32 months, the bank has achieved a lot, and we are pleased of it.” Four million clients, strategic alliances with three South African retail giants and the Zion Christian Church, and significant investments from large international investors are just some of the things that make us unique. Keraan remarked, “We have a bright future ahead of us, and we’re looking forward to it.”

Staff Writer

Published by
Staff Writer