GoTyme Bank, formerly known as TymeBank, says it expects to become South Africa’s third-largest bank by monthly active users in the first quarter of 2027.
This, as the digital player builds on increased adoption of its banking services in 2026, billed as its “strongest year-to-date”.
The Patrice Motsepe-owned bank says it now serves more than 13 million customers as its net customer advances (loans) increased by 126% to R5.08 billion, while deposits climbed 27% to R9.69 billion.
The bank shared an update of its performance over the last year at its ‘GoTyme. GoHuman. GoForward’ media briefing in Johannesburg today, framing 2026 as “a breakout year”, as its growth trajectory puts it on track to reach the “top three” milestone.
The bank’s total income rose 25% to R2.72 billion, while net interest income increased 13% to R1.4 billion. Fee income grew 41%.
It has just over eight million monthly active customers.
Cheslyn Jacobs, CEO of GoTyme Bank, said the performance reflected growth across several parts of the business.
“I honestly believe we will become the top three bank in the last quarter of 2026, so we no longer see ourselves as a small, young, disrupting digital challenger,” noted Jacobs.
“We now see ourselves, growing from being a challenger to being a property bank in South Africa. However, those accolades and achievements, and that level of skill come with tonnes of responsibility.
“What stands out is not one isolated number. It is the breadth of the momentum we are seeing across the bank. Over just the last three months, we've already seen more customers adopt digital than they use ATMs.
“The ATM withdrawal for a long time was our third most popular use case in our business. Over the last three months, it's moved from third to sixth because customers are continuously adopting digital.”
Digital appetite
A major operational development during the year was the migration of more than four million customers to the new GoTyme app, following the bank’s transition from the TymeBank brand.
The bank has also recorded increased use of digital payment services.
PayShap adoption among its customers rose by more than 250% year-on-year, while almost 70% of payments made by GoTyme customers are instant and free.
Approximately 26% of SA’s PayShap cellphone payments originate from GoTyme accounts, noted Jacobs.
The bank estimates its combined customers save more than R150 million annually through qualifying instant payments being offered at no charge.
Virtual-card spending increased 240% year-on-year, including growth of 65% in the latest quarter, pointing to greater use of the bank’s digital payment services.
Jacobs said GoTyme wants its approach to instant payments to influence wider industry practices.
“We don’t want free instant payments to remain a GoTyme competitive advantage forever. We want the industry to copy us. Instant should be the standard, and we believe free should be the standard too,” he said.
GoTyme is preparing to broaden its product range in 2027, with plans for a credit card, an evolution of its MoreTyme buy-now-pay-later offering and expanded personal lending through its partnership with Sanlam.
The bank is also developing a new rewards proposition and exploring ways to provide customers with access to investment products and digital assets, subject to relevant regulatory and licensing approvals.
The planned additions would extend the bank’s offering beyond everyday transactions and deposits, giving it further opportunities to serve more customers across borrowing, saving and investing, it says.
“The strategy is not simply adding more products,” Jacobs explained. “A really interesting statistic in South African financial services is that the number of credit-worthy South Africans has barely changed for 15 years. So, in essence, there's no more people today than there were 15 years ago who can go to a bank and borrow money to buy a home, borrow money to buy a car, borrow money to start a business.”
He did not disclose how much of the increase in advances came from specific lending products, nor did he provide details on the composition of the credit impairments.
Human touch
GoTyme’s growth plans are accompanied by efforts to improve its customer experience.
In the latest Ask Afrika Orange Index, the bank moved from sixth to second place in the banking category.
Also speaking at the event, Nolwazi Nzama, group executive for operations at GoTyme Bank, said the bank aims to combine digital convenience with access to personal assistance, through its hybrid ‘phygital’ model built around setting up mall-based customer hubs and call centres.
The bank’s “GoHuman” strategy is centred on combining digital banking with access to human assistance, as part of its strategy to improve customer experience.
“Customers should not have to choose between great technology and great service. Sometimes the best experience is solving something yourself in seconds. Sometimes you need a real person. GoHuman is about making both possible,” said Nzama.
The bank is ramping up its expansion into shopping centres, as it accelerates its hybrid ‘phygital’ model built around setting up mall-based customer hubs.
This, after it removed its kiosks from Pick n Pay stores, in a restructuring move aimed at reallocating its kiosk footprint to high-traffic retail environments, including Boxer and TFG stores.
“GoTyme is on track to have 140 customer hubs operating across SA by the end of 2026, providing face-to-face support alongside its digital channels,” noted Nzama.
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