STEPHEN CRANSTON: Michael Jordaan’s new bank zeroes in on simplicity and small business
Bank Zero’s tech geeks are more comfortable in a bat cave than in a marble-clad head office
It is finally here. More than three years after the launch of SA’s two other challenger banks, TymeBank and Discovery Bank, Bank Zero has finally launched to the public. It seems to have modest ambitions. It will not provide loans, nor any of the usual banking bells and whistles, such as reward programmes. In most cases it does not charge for its services.
The management team’s passion is technology, not client service or marketing. While chair Michael Jordaan is the public face of Bank Zero, his colleagues, led by CEO Yatin Narsai, would far rather write code in their bat cave in an obscure part of Bryanston, north of Johannesburg, than go on the road to meet the public...
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