PODCAST | TymeBank’s Cheslyn Jacobs slams fee-heavy banking model

TymeBank chief commercial officer Cheslyn Jacobs has called out SA lenders for what he sees as an unsustainable reliance on banking fees, positioning the Patrice Motsepe-backed app-only bank as a go-to disrupter. 

Speaking on the Business Day Spotlight podcast, Jacobs contrasts SA’s fee-heavy banking model — where about 50% of income stems from charges — with banking in markets such as the UK and Germany, where the norm is for banks to earn just 10% of income from fees and the rest from interest...

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