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Insight: Digital newcomers out to disrupt South African banking


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 ...

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