STEPHEN CRANSTON: The new bank battle
TymeBank now has 630,000 customers, well ahead of Discovery Bank, which has barely 10,000, and Bank Zero, which hasn’t even launched
It is easy to be sceptical when a CEO resigns to "spend more time with his family". It is often a polite way of saying he was dismissed. But in the case of Sandile Shabalala at TymeBank I think we can take it at face value. Shabalala’s strength is in business and corporate banking. He doesn’t fit into the mould of a computer geek starting a fintech.
And TymeBank must have been quite a culture change after Nedbank: the large banks have armies of people to do the heavy lifting.