You are here: Home » Reuters » News
Business Standard

Insight: Digital newcomers out to disrupt South African banking

Reuters  |  JOHANNESBURG 

By Tiisetso Motsoeneng, Nomvelo Chalumbira and Wendell RoelfJOHANNESBURG (Reuters) - Armed with low-cost operating models, three South African digital banks are betting on aggressive pricing and data analytics to attract tech-savvy, price-conscious consumers when they launch next year in a rare challenge to the old guard.It will be first time the $30 billion industry has faced competition since the early 2000s, when Capitec Bank muscled into a sector dominated by Absa, FirstRand, Nedbank and Standard Bank.The mobile banking newcomers, Discovery Bank, TymeBank and Bank Zero, all expect to have ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, December 04 2018. 12:02 IST
RECOMMENDED FOR YOU