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Digital newcomer Discovery Bank nears 500K customers

The digital bank says it has 489 000 clients as of 13 September, versus 370 000 accounts at the end of June.

Jul 28, 2020

TymeBank reaches new high, adds fast mode of transaction

The new kid on the banking block now has two million customers − a target reached five months ahead of the bank’s plans.

Jul 8, 2020

TymeBank, Discovery Bank see customer gains during lockdown

The digital banks report an upswing in on-boarding new customers, as more consumers look to branchless banking channels for their financial services.

Jun 15, 2020

Discovery Bank adds new customers despite COVID-19 setback

The bank says overall credit utilisation declined during the lockdown and arrears, including non-performing loans, are still within expectation.

Mar 19, 2020

TymeBank signs up 4 000 new customers per day

The digital bank now has 1.4 million customers, of which 700 000 are active bank accounts

Feb 20, 2020

Discovery Bank disburses over R1bn in credit

The bank’s half-year results show total credit card spend was R2.6 billion and total credit limits granted sat at R2.5 billion.

Nov 13, 2019

Countdown begins for Michael Jordaan’s Bank Zero launch

The bank enters the final phase before launching next year and says it has already put safety nets on fraud and attacks.

Sep 4, 2019

Discovery puts digital bank at centre of strategy as profit drops

The new digital bank now has more than 22 000 clients, with over 50 000 accounts, after 1.5 million hours spent building 120 interconnected systems and infrastructure.

Jun 14, 2019

Slow migration leaves Discovery Bank clients frustrated

The digital bank calls for patience as it “slowly and responsibly” migrates its existing customers to the new banking facility.

Jun 12, 2019

Digital newcomers spark price war among SA banks

Since the digital newcomers entered the market, the incumbent banks have been slashing their prices one after the other.


How SA's big banks plan to tackle digital newcomers

Although welcoming competition in the market, the incumbent banks are watching the new players closely.

Mar 28, 2019

Michael Jordaan's digital bank edges closer to launch

New digital-only bank, Bank Zero, goes into beta testing, with plans to open in the second half of 2019.

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