We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

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 unlocked.me 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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.