Venture capital investments exceeded R16 billion over the last decade, with AI emerging as the next major growth driver for South African start-ups.
Cheslyn Jacobs aims to elevate the bank to a top three position, while investing in employees and customer experience.
The digital bank receives approval from the South African Reserve Bank’s Prudential Authority to appoint Cheslyn Jacobs as its new CEO.
The digital bank will introduce credit cards, new lending capabilities and relaunch its banking app, amid plans to become one of SA’s top three banks.
The Patrice Motsepe-owned digital banking group is now valued at R26.7 billion after securing R4.4 billion in the latest capital raise, to fuel its next phase of growth.
TymeBank achieves sustainable profit levels, while GoTymeBank continues to track in line with its key metrics, says ARC.
The digital bank reaches 10 million customers, with almost R7 billion in customer deposits six years since inception.
The digital bank names Karl Westvig as its new CEO, as current CEO Coenraad Jonker is appointed chairman of Tyme Group.
The generative AI model, still in beta testing, aims to provide knowledge and resources for the SME community.
TymeBank announces Retail Capital buyout
TymeBank has reached an agreement with Retail Capital and its shareholders to acquire 100% of the fintech SME funder’s shares, subject to regulatory approval. #newsvideo #TymeBank #Itinbanking
The fintech SME funder will become part of the digital-only bank, opening up working capital for small businesses.
The local payment service provider teams up with Retail Capital to launch a short-term capital solution for online merchants.
The company acquires a "significant minority interest" in Retail Capital, a provider of alternative funding to the SME sector.