TymeBank, South Africa's first digital bank, reports that it has signed its 250 000th customer.
The bank soft launched with one kiosk in November 2018 and launched to the public with just over 500 kiosks at the end of February 2019.
26 percent of the bank’s first quarter of a million customers are between the ages of 36 and 45, and 14 percent are aged 46 to 55.
"We’re delighted to see how many of our customers are above the age of 36, as we believe that these are people who already have an existing bank account, who see the value we offer and have taken the decision to give us a shot," said the Chief Executive of TymeBank Sandile Shabalala.
Shabalala added, "Furthermore, 78 percent of our customers have opened their accounts at a kiosk inside a Pick n Pay or Boxer store with 22% having done so on our website. We are really encouraged that we’re appealing to a broad range of South African consumers, those who are digitally savvy enough to open an account online and those who feel more comfortable with a physical touchpoint".