The digital-only bank sees strong growth in the two years since launch, with over 450 000 clients.
The digital bank is set to launch GOtyme in the Philippines in October, to fire up its global expansion plans.
Coen Jonker is named TymeBank CEO, while Tauriq Keraan is appointed as the group’s executive for growth projects.
Technical glitches and online banking fraud complaints top the list of consumer complaints received.
Demand for products remains strong, even as COVID-19 restrictions are relaxed, says African Rainbow Capital.
The digital-only bank partners with the National HealthCare Group to provide in-app medical insurance solutions to its millions of customers.
The digital bank reached a turning point at the end of last year and expects to break even in 2024.
The digital-only bank introduces its first credit card facility, as part of its product expansion plans.
After a successful pilot programme, Pick n Pay’s electronic vehicle licence disc renewal service is available nationally.
Transactions that cost R99 to R143 at traditional banks cost R21.50 at TymeBank, or R25 at Bank Zero, Solidarity Research Institute’s latest bank charges study finds.
The capital raised will fund and grow TymeBank in SA and also fund GOTyme in the Philippines, where it has secured a digital bank licence.
Most South African banks struggle to swiftly respond to customer service requests online, posing reputational and regulatory risks, says BrandsEye.