TymeBank
Founded
2015 in South Africa (originally developed from a Deloitte-associated project and later spun out as its own business).
Founder & Leadership
Co-Founders: Legacy concept from early digital banking innovators; later developed under African Rainbow Capital (majority owner).
CEO: Karl Westvig (leading strategy and growth).
Chairman: Thabani Jali.
Location
Rosebank, Johannesburg, South Africa — operating primarily in South Africa with global ambitions and international subsidiaries under Tyme Group.
Industry
FinTech / Digital Banking — licence-based digital bank providing everyday banking, savings, SME lending, and financial access products.
Overview
TymeBank is a digital-only bank focused on providing affordable, accessible banking services — especially to underbanked and mass-market customers — through mobile apps, cloud infrastructure, and retail kiosk partnerships (e.g., Pick n Pay and Boxer in South Africa).
Unlike traditional banks, TymeBank doesn’t use physical branches; instead, it leverages digital onboarding, strategic retail partnerships and simplified user experiences to reach mass markets quickly.
Core Features & Capabilities
Zero-fee or low-fee digital bank accounts with fast mobile onboarding.
Savings & transactional accounts with features like “GoalSave.”
SME lending & working capital programs powered by acquisitions like Retail Capital.
Cloud-based platform enabling scalable operations and low operating costs.
Rapid customer growth: reaching 10 million+ customers with nearly R7 billion in deposits and broad retail access via partner stores.
Target Market
Underbanked and previously excluded consumers seeking low-cost, convenient digital banking.
Small and medium enterprises (SMEs) requiring accessible finance and lending solutions.
Digital-first, mobile-savvy users preferring app-based banking over traditional branch visits.
Value Proposition
Inclusive banking: dramatically lower fees and simplified onboarding compared to legacy banks.
Scalable digital infrastructure: cloud-native platform enables efficient, low-cost service delivery.
Retail partnerships: kiosks in supermarkets and stores expand physical touch points for onboarding and support.
Rapid growth and trust: millions of customers and strong SME lending footprint help build credibility.