Nedbank, one of the big four banks that is fighting to protect its market share from new entrants such as Discovery Bank, is betting on the youth market to stay relevant. Nedbank's retail division launched a new e-commerce platform, called on Tuesday targeting younger customers. The platform offers discounts on items most sought after by young people, and value-adds including a digital recruitment agency. “We realised that young people were starting to lose resonance with the Nedbank brand. It was a shame on us that we hadn’t put anything in the market to respond to their needs. We’ve spent a lot of time on this and all the indicators are that we are starting to regain resonance with young people,” said Mutsa Chironga, the managing executive of consumer banking at Nedbank. The digital offering is, however, available only to people below the age of 25, which may limit Nedbank’s appeal to the older generation who use smartphones. Digital banks such as TymeBank and Bank Zer...

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