Sasfin says it is building a go-to digital bank for small and medium enterprises (SMEs) as competition in that sector intensifies in SA.

The business-banking specialist said that despite the increase in SME offerings by big lenders, it recorded an 11.9% increase in customer deposits to R4.98bn, driven mainly by its transactional banking platform B//YOND which was launched in 2018. This showed that Sasfin was attracting deposits from SMEs. 

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