Podcasts about tymebank

This week we bring you more insights from Cape Town South Africa as we continue to explore some great startups on the African continent and beyond from Crossfin's Circle of Fintech event. In our first segment, Brett speaks with Karl Westvig, CEO of TymeBank South Africa. Since receiving its banking license in South Africa in 2019, TymeBank has grown to 80 million customers globally, focusing on financial inclusion through accessible and frictionless banking. The expanding neobank has plans for further growth in several Asian markets. Key motivations include the immense scale of the Asian markets: the Philippines with 120 million people and Indonesia with 280 million alongside South Africa's 60 million. These regions boast young, digitally savvy populations that are largely underserved. Tune in as Brett and Karl discuss new opportunities, TymeBank's innovative "phygital" distribution strategy, tech stacks, Agentic AI, new products, and more Then, Brett sits down with Unitey Founder & CEO, Muzaffar "MK" Khokhar, for an engaging conversation about the payments ecosystem. Based in the UAE, Unitey's mission is to democratize financial services and level the playing field. MK is a veteran payments ecosystem player, creating and operating payment ecosystems for central banks and governments. With Unitey, he is focused on the serenity of the ecosystem. With our current system built back in the 60s / 70s, we now have better tech for more robust payment rails. Change is happening, efficiency is coming into the system, and interoperability with other rails coming up fast with RTP, mobile money, and more. Unitey specializes in demystifying the card payment rails but has clear roadmaps focused on creating interoperability with other rails, ensuring multiple rails can actually interoperate. Want fintech & banking insights every week? Subscribe to The Provoke.fm Briefing: https://mailchi.mp/91ca869a66ec/provoke-fm-newsletter Listen and subscribe to the podcast on your favorite platform: https://provoke.fm/follow-provoke-fm/ Subscribe to our YouTube Channel: https://www.youtube.com/channel/UC-SWmY7HswQ5hI9LiIHJd7Q Follow us on LinkedIn: https://www.linkedin.com/company/10459295 Connect With Karl Westvig: https://www.linkedin.com/in/karl-westvig/ Connect with Unitey: https://www.linkedin.com/company/unitey-digital/ Connect with Brett King: https://www.linkedin.com/in/brettking/

In this episode of the What the FinTech? podcast, host and FinTech Futures editor Paul Hindle is joined by Coen Jonker, founder and CEO of Tyme Group, to discuss how Tyme has looked to approach its growth strategy amid the evolving digital banking landscape globally, and what's next for both TymeBank in South Africa and GoTyme Bank in Southeast Asia. The conversation explores how the group is utilising advancements in technologies such as GenAI and new fintech innovations to enhance its product suite and meet shifting customer demands, the latest digital banking trends and how new emerging technologies could further transform the banking industry, and Coen's top tips for growing a digital bank in the current macroeconomic climate. And finally, we find out what fintech buzzword Coen wants to throw into our Fintech Jail!

Le géant britannique Revolut annonce un investissement d'un milliard d'euros en France. Une occasion de faire le point sur ces banques 100 % digitales, qui séduisent de plus en plus d'usagers à travers le monde, en bouleversant les codes traditionnels du secteur. Décryptage. Les banques en ligne, aussi appelées néobanques, se distinguent par leur fonctionnement entièrement digital. Accessibles uniquement via une application mobile ou un site internet, elles n'ont ni agences physiques, ni guichets. Cette absence d'infrastructure leur permet de proposer des services bancaires à des tarifs très compétitifs, voire gratuits. L'ouverture d'un compte se fait en quelques clics, sans frais, sans rendez-vous, et sans paperasse. Les coûts de fonctionnement étant réduits au minimum, ces établissements misent sur l'automatisation pour assurer la gestion des opérations. On distingue deux grands types de banques en ligne : les indépendantes, comme l'Allemande N26 ou la Britannique Revolut, et celles adossées à des banques traditionnelles, comme HelloBank (BNP Paribas) ou Boursobank (Société Générale).Un marché en pleine explosionMême si elles ne rivalisent pas encore en taille avec les banques traditionnelles, les néobanques occupent une place de plus en plus importante. Selon Grand View Research, le marché mondial des banques en ligne, estimé à 67 milliards de dollars en 2022, pourrait dépasser 3400 milliards d'ici à 2030. Cette croissance est portée par la hausse rapide du nombre de clients dans le monde : il a triplé depuis 2020, atteignant aujourd'hui plus de 300 millions.Une solution d'inclusion financière, notamment en AfriqueLe succès des néobanques ne se limite pas à l'Europe ou aux pays occidentaux. Sur le continent africain, elles apparaissent comme de véritables leviers d'inclusion financière. Face à un taux de bancarisation encore faible, elles offrent des solutions simples, mobiles et accessibles à des millions de personnes exclues du système bancaire classique.Des acteurs comme TymeBank en Afrique du Sud, Kuda au Nigeria ou encore Djamo et Orange Bank en Afrique francophone participent à cette transformation. En combinant l'essor du smartphone, le développement du commerce en ligne et le désintérêt des banques traditionnelles pour les populations à faibles revenus, ces néobanques trouvent un terrain fertile. Reste néanmoins un défi de taille : atteindre une rentabilité durable malgré un modèle basé sur des frais réduits, tout en consolidant la confiance des usagers sans relation physique.À lire aussiLe Nigeria à la pointe dans la monnaie digitale de banque centrale

TymeBank Chief Commercial Officer Cheslyn Jacobs has criticised South African lenders for their continued reliance on banking fees, arguing that the model is unsustainable in the long term. Speaking with Business Day acting editor Tiisetso Motsoeneng, Jacobs positioned the app-only, Patrice Motsepe-backed bank as a challenger to the status quo. Business Day Spotlight is a MultimediaLIVE production. Produced by Demi Buzo.

Send us a text In this episode Darren Franks chats with Erin Louw, Chief People Officer at TymeBank, to discuss what it takes to build an agile, people-centric culture in a fast-growing FinTech. From harnessing people analytics with everyday tools to cultivating talent.Highlights:People-Centric Leadership in a Scaling FinTechHarnessing People Analytics to Drive Organisational HealthHiring and Cultivating Talent vs. ‘Finding' TalentThis episode is sponsored by Pear Network Erin Louws's LinkedIn: https://www.linkedin.com/in/erin-louw-3b838bb/TymeBank's Website: https://www.tymebank.co.za/Darren Franks' Linkedin: https://www.linkedin.com/in/darrenfranks/Titc's Website https://titc.io/This episode is brought to you by Pear NetworkPear's LinkedIn: https://www.pear-network.com/

Cheslyn Jacob, Chief Commercial Officer at TymeBank, joins John Maytham to provide clarity on TymeBank’s SASSA grant offering. Following a previous discussion, he returns to explain the benefits, pricing model, and how grant recipients can sign up.See omnystudio.com/listener for privacy information.

Welcome back to Not Fintech Investment Advice, where Simon Taylor and I bounce through fintech companies that have recently caught our eye. We're kicking off with Dakota, a Brex-Wise hybrid for SMBs, offering 24/7 global payments with a stablecoin twist. Deposits, stored as stablecoins, earn up to 4% yield and are issued by Dakota, raising questions about custody, resolution, and well…what happens if Dakota goes belly up? Instant, global payments without banking hours are perfect for cross-border businesses, but proceed with curiosity and caution when it comes to deposit safety. Next up: ampersand, a post-SVB startup transforming deposit management. They optimize large cash deposits across banks for safety, rates, and values (focusing on FDIC insurance, top rates, and ethical alignment). Unlike, say, IntraFi, ampersand targets companies directly–not just banks–especially mid-sized ones lacking treasury teams. But post-SVB, why do uninsured deposits even exist? Banks may hesitate, but company demand is there; ampersand's timing couldn't be better. Then there's Auquan, which automates deep work in financial services—think credit memos, deal screening, and investment committee prep—in minutes. They're not just making flashy demos; they're delivering real results as vouched for by clients like MetLife and UBS. While most Gen AI tools overpromise, it seems like Auquan actually delivers consistent and quality results. And in capital markets—where grunt work once built expertise—AI like Auquan could be a real disruptor. And finally, TymeBank is shaking things up for emerging-market neobanking. With 15M+ customers in South Africa and the Philippines, they've snagged a $250M Series D led by Nubank, securing a 10% stake. Think franchise neobanking—proven model, local twist. Nubank expands strategically, while TymeBank taps into its scaling expertise. This is modern fintech, not the old HSBC playbook. Plus, who's stepping up to lead supervisory tech? Let's fix government inefficiency—no need to cut agencies, just make them work smarter (not smaller) to break up our banking bottleneck. 00:02:45 - Dakota 00:18:11 - ampersand 00:30:25 - Auquan 00:41:34 - TymeBank 00:52:21 - Manifesting Fintech Ideas  Sign up for Alex's Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don't forget to check out my YouTube page. Follow Simon: LinkedIn: https://www.linkedin.com/in/sytaylor/ Substack: https://sytaylor.substack.com   Follow Alex:  YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson Companies featured: https://dakota.xyz/ https://trustampersand.com/ https://www.auquan.com/ https://www.tymebank.co.za/

Coen Jonker, bestuurshoof van TymeBank gesels oor hulle ooreenkoms met Nubank. Volg RSG Geldsake op Twitter

This evening we look at the markets with Rand Swiss, speak to TymeBank about its new shareholders and expansion plans, tech analyst Mudiwa Gavaza joins us to discuss Telkom getting approval for its tower and mast sale, and as we wrap the year, we look back at some of our most popular Market Update interviews, specifically in the Property Insights and Agri Focus segments. SAfm Market Update - Podcasts and live stream

Karl Westvig – CEO, TymeBank SAfm Market Update - Podcasts and live stream

On this episode Pat sits down with Coen Jonker, Co-Founder and Executive Chairman of TymeBank to discuss their scale-up journey from South Africa into the Philippines building a true multi-country digital bank for emerging markets. You will learn about:Product road map when scaling a digital bank How to approach market expansion and identifying your next target market What financial inclusion truly means for Coen You can find Coen on LinkedIn here. Support the show

Nosipho Radebe speaks to Karl Westwig, CEO at TymeBankSee omnystudio.com/listener for privacy information.

Johan Van Zyl, mede-uitvoerende hoof van African Rainbow Capital gesels oor die groep se finansiële resultate. Volg RSG Geldsake op Twitter

In This Episode Digital banking is reshaping market share. All the fastest growing banks these days are fintechs.  After a three year battle, fintech challenger Revolut has provisionally secured a UK Banking License. With this, Revolut can now represent themselves as a bank, having the rights and obligations of a chartered financial institution in the UK. Revolut already had a license in the EU but the UK license could help with entry into the US. With 45M customers, revenue over $2B and profitable, they are making a mark for themselves. Listen as hosts Brett King and JP Nicols share their take on the news and implications for the industry. Then, it's Tyme....TymeBank, South Africa's (and the African continent's) most successful challenger bank aimed at the lower income market. Listen as Co-Founder, Coen Jonker, speaks with Brett to share Tyme's origin story and progress. Tyme is challenging the notion of how neos might work in this space. It began with BaaS and several years later, 2019, TymeBank launched in South Africa (SA). Launching during CoVid taught Tyme (Take Your Money Everywhere) to build an anti-fragile business.One of three banks since 2000 to have been granted a SA banking license, TymeBank uses a phygital operating model to work towards it's goal of financial inclusion and democratizing access to banking. In 2022 they expanded to the Philippines, GoTyme, and now, Vietnam. Via digital kiosks for onboarding in physical retail stores -- you can open an account in 3 - 5 minutes and be issued a debit card -- they are building trust and educating customers, integrating banking into the shopping proposition. TymeBank is in it for the long game.

Bruce Paveley says that when he moved from a senior IT role at Standard Bank in 2017 to the then-nascent start-up digital bank TymeBank, it was “a really big shock”. “You go from five buildings in the middle of Joburg, multiple floors, to an office in Rosebank that's two floors, and that's the bank, and you think, ‘Wow, is this really a bank? Can it work like this?” That was before TymeBank had launched its first commercial services, and long before it would go on to become South Africa's most successful digital banking start-up with nearly 10 million customers and R6-billion in deposits and R3-billion in loans. Paveley's love for computers started when his dad bought him a Sinclair ZX81 in the early 1980s when he was a youngster growing up in the small north coast town of Empangeni. Today, as chief technology officer at Tymebank, Paveley is leading a team that's building the technology underpinnings (cloud-based, of course) of a modern digital bank. And it's a fascinating story about using technology to challenge established industry incumbents. In this first episode of TechCentral's new podcast series, Meet the CIO (presented by Wipro), Paveley chats to Duncan McLeod about what was involved in launching TymeBank from a technology perspective, the strategic choices it made and why, and what comes next in the bank's journey. Paveley tells Meet the CIO about: • His upbringing in Empangeni and how he ended up pursuing a career in IT • The mainframe era, and his experience as a Cobol programmer • His IT career at Standard Bank, including his involvement in the bank's big SAP project • Why he joined TymeBank • What was involved in building the new bank, and the role that technology played • TymeBank's technology stack, and why the bank migrated from an on-premises solution to the cloud – and why it made the technology choices it did • Tyme Group's internationalisation plans, and how technology is underpinning that expansion • How he works with the rest of the bank's management team, and where technology fits into strategic decision-making • TymeBank's approach to cybersecurity • What keeps him awake at night • And much, much more Meet the CIO is a new podcast series produced and published by TechCentral and published monthly. We talk to IT leaders across South Africa about the role of technology in their organisations. Don't miss an episode by subscribing to TechCentral at youtube.com/techcentral. TechCentral

Schalk Louw from PSG Old Oak discusses the Pick n Pay rights issue buoyed by a higher share price. Simon shares a trading blunder that nearly left him with 200 tons of maize on his front lawn. Karl Westvig, TymeBank's new CEO, talks about Asian markets, new products, and the planned listing.

GoalSave offers customers 7% to 11% interest ‘regardless' – the highest anywhere currently: CEO Karl Westvig.

Noluthando Mthonti-Mlambo speaks to Karl Westvig, the incumbent CEO at TymeBankSee omnystudio.com/listener for privacy information.

According to the Financial Times, South Africa's state-owned electricity company Eskom may have reported an annual loss of up to R15 billion in the most recent year. Professor Harald Winkler discusses this possibility with host Motheo Khoaripe. Karl Westvig will take over as TymeBank's CEO on October 1. The SME-focused lender Retail Capital, which he co-founded, was bought by TymeBank in 2022. He currently serves as the CEO of the business and retail banking divisions of TymeBank. TymeBank is on target to surpass 10 million customers this year and wants to IPO in 2028. Host Motheo Khoaripe asks newly appointed CEO Karl Westvig additional questions. AutoZone, the largest privately held automotive parts store in South Africa, has declared its entry into business rescue, citing its inability to control its debt load in an increasingly challenging economic climate. Anton Resse, the strategic head of SME assistance at Fetola, hosts Motheo. CNBC International Reporter Arabile Gumede speaks with host Motheo Khoaripe about the minor differences between the UK and France in a tale of two elections. See omnystudio.com/listener for privacy information.

On October 1st, Karl Westvig will become the next CEO of TymeBank.In 2022, TymeBank acquired Retail Capital, a SME-focused lender he co-founded. He is presently the CEO of TymeBank's retail and business banking businesses. TymeBank plans to list in 2028 and is on track to surpass 10 million customers this year. Inquiring further, host Motheo Khoaripe chats with recently hired CEO Karl Westvig.See omnystudio.com/listener for privacy information.

CONSUMER INSIGHTS Topic: Rise of e-commerce: How to avoid falling victim to scams Guest: George Wandsella, Head of Operational Risk and Fraud at TymeBank

Coen Jonker, uitvoerende hoof van TymeBank gesels oor hulle uitbreiding. Volg RSG Geldsake op Twitter

Coenraad Jonker – Founder and CEO, TymeBank SAfm Market Update - Podcasts and live stream

Greg Illgner, Chief Strategy Officer at TymeBank, joins host Bruce Whitfield to discuss the bank's partnership with Flash, a South African payment solutions provider. This partnership enables TymeBank customers to withdraw cash at over 172,000 spaza shops and traders nationwide. Consequently, TymeBank now offers more cash withdrawal options and locations than any other bank in South Africa.See omnystudio.com/listener for privacy information.

Die uitvoerende hoof van TymeBank, Coen Jonker sê dit maak baie sin vir 'n Spaza-eienaar om van die kontant uit die kasregister te kry om risiko te vermy. Volg RSG Geldsake op Twitter

Greg Illgner – Chief Strategy Officer, TymeBank SAfm Market Update - Podcasts and live stream

George Wandsella is Head of Enterprise Risk and Fraud Strategy at TymeBank and joins Africa to speak on romance-related scams and cyber fraud – and how it all ties together.See omnystudio.com/listener for privacy information.

Coen Jonker, medesigter en uitvoerende hoof van TymeBank gesels oor die bank se eerste wins. Volg RSG Geldsake op Twitter

Guest: Coen Jonker | Co-Founder & CEO at TymeBank|See omnystudio.com/listener for privacy information.

Coen Jonker – CEO, TymeBank SAfm Market Update - Podcasts and live stream

Noluthando Mthonti-Mlambo speaks to TymeBank CEO, Coen Joenker about TymeBank achieving a major financial milestones. See omnystudio.com/listener for privacy information.

Coen Jonker, medesigter en uitvoerende hoof van TymeBank gesels oor Tymebank se groei. Volg RSG Geldsake op Twitter

TymeBank, SA's first fully digital bank, may list on a major stock exchange in the next four to five years, as its valuation approaches R20bn, its co-founder and CEO Coen Jonker says. Speaking to Business Day deputy editor Tiisetso Motsoeneng, Jonker said the bank, which launched in 2018 and has attracted more than 8-million customers, is now valued at about $965m (R17bn) after raising $105m in a funding round in recent months. Business Day Spotlight is a TimesLIVE Production. This podcast is produced by Demi Buzo.

Overview: Today, we're going to explore TymeBank - the South African neobank. We'll discuss the story across  the following areas: African & Nigerian banking context TymeBank's launch, early history, growth over time & fundraising Product & monetization strategy Competitive positioning & potential exit options Overall outlook. Companies discussed: TymeBank, African Rainbow Capital (ARC), MTN, Kuda Bank, Chipper Cash, FairMoney, Carbon, Discovery Bank, Branch, Pick N Pay, TakeAlot, Commonwealth Bank of Australia, Bank Zero, Naspers & NuBank Business concepts discussed: International expansion, Startups and Distribution, Deposit banking, International expansion, Data sovereignty, Conversation highlights: (00:30) - TymeBank context (08:15) - Context of African Banking  (24:20) - TymeBank founding story (52:20) - Fundraising (55:01) - Growth and geographical expansion (1:20:03) - Product & Monetization  Strategy (1:50:08) - Competition and options for Exit (2:00:33) - Bankole's  overall thoughts and outlook (2:10:38) - Olumide's overall thoughts and outlook (2:15:00) - Recommendations and small wins Olumide's recommendations & small wins: Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook) Recommendation: AI 2041: Ten Visions for Our Future (Kai-Fu Lee): Great book about the potential of AI told across 10 stories Recommendation: Dangote (song by Burna Boy). Incredible song Recommendation: Good Bad Boy (song by Lil Kesh). Catchy and smooth chorus. With a deeper meaning about searching for companionship  Small win: I was in NYC book launch for FIREDOM Book launch. Dope. Bankole's recommendations & small wins: Recommendation: Plunder by Brendan Ballou - A book on the excesses of Private Equity. PE is an example of well-intentioned policy having (unintentional?) downstream impact. Recommendation:  Business Breakdown Podcast on Mobile Gaming: The uneven distribution of paying customers in mobile gaming reminds me of emerging market telco companies Small win: Quest 3 Headset! VR is coming along nicely. Other content:  TymeBank Holdings 2022 Financial Statement & Substack on the history of Tyme Global Listeners: We'd love to hear from you. Email info@afrobility.com with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com Investors: It would be great to link up with you. Contact us at info@afrobility.com Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com

It is easy to assume that scaling a business simply refers to getting more revenue. What investors are truly looking for is for a business that shows the ability to yes, grow its revenue, by gaining more customers and moving into new markets. That being said, it is equally important to understand that a business that is scaling is a business that is looking to be at the optimal size relative to its product, its competitors and unique selling points. Join El-Shebah as she discusses the ins and outs of thinking about scale when building your business. El-Shebah is the New Business Development & Partnerships Executive at TymeBank. This episode delivers on insights and practical suggestions on how to think about how you scale your business and lose the focus you have on building a purpose-led business. About Let's Get Funded Branson Centre has partnered with the UK SA Tech Hub, an initiative of the UK Government, to create our on-demand series ‘Let's Get Funded', for founders looking to get funded. We connected with South Africa's most experienced and inspiring female finance professionals to discuss investor readiness. Let's Get Funded challenges traditional financial and investment content norms with a conversational 9-part series of on-demand content.

Garth Theunissen, News24 Business journalist on Competition Commission investigating fees that banks charge for PayShap. Greg Illgner, TymeBank's chief strategy officer on why they charge zero fees on the same platform.   Matthew Blackman, journalist and writer on Old Mutual's founder arriving in SA 200 years ago today — and how his legacy still endures.    Amanda Cromhout,  CEO of Truth was our shapeshifter. She spoke about moving to SA from the UK and about her loyalty programme company. See omnystudio.com/listener for privacy information.

PayShap is the biggest thing to happen in banking in South Africa, if it is done right, says TymeBank's co-founder and group CEO Coen Jonker. The new rapid payment method is a “game changer” and the “key that will unlock the true digitisation of the cash economy,” he tells Stuff editor-in-chief Toby Shapshak. Read more on Stuff.

Bonus Episode: Empowering the Next Generation with the Motsepe FoundationIn this special partnership with the Motsepe Foundation for the IO Expo 2023, we had the incredible opportunity to sit down with some extraordinary guests, including Nomzamo Mbatha (actress, producer, and businesswoman), Cedrick Diphoko (Managing Director at Bathu Shoes) and Linda Appie (Chief Marketing Officer of TymeBank), among others.The Information & Opportunities Expo 2023, organized by the Motsepe Foundation, is dedicated to equipping young people with the tools and resources they need to thrive in the job market. Throughout the episode, we engaged in rich and insightful conversations with the Expo's speakers, sponsors, and delegates.Tune in to hear inspiring stories and valuable insights that will leave you motivated to seize every opportunity in your own journey to success!

On this episode, Maanda Tshifularo interviewed Tauriq Keraan, who is the Group Executive for Growth Projects at Tyme Group. He was formerly the Chief Executive Officer and Executive Director at Tymebank, South Africa's first digital bank.

Coenraad Jonker, co-founder and CEO of TymeBank discusses their expansion.    Matthew Spencer, head of the team of Investment Counselors at Orbis on whether we should be preparing for another drawdown in global markets.   For Investment School, Nicole van den Munckhof, certified financial planner from Independent Securities on how you can avoid falling victim to scammers tricks. See omnystudio.com/listener for privacy information.

Karabo Morule is the founder of Capital Art, which is an art fintech and the first art collection management service that is focused on collectors of modern and contemporary African art. Morule is also a non-executive director at TymeBank, South Africa's first bank to have its core banking system in the cloud. In this conversation with Stanford adjunct lecturer Vimbayi Kajese, Morule discusses the African art market, including the ways it's been shaped by injustice and the opportunities it presents for cultural preservation and celebrating marginalized artists. Through her company's technology, she is creating a more inclusive African art ecosystem by encouraging people of many income levels to view themselves as collectors.

It's a new year and we are officially kicking off season 2 of Fintech in the cloud! To kick off our new season we are doing something slightly different. It is our first live episode with a thought provoking and insightful panel conducted at the Africa Fintech Summit, moderated by yours truly. The panel comprised of AWS customers who are influencing the trajectory of fintech in Africa. The esteemed guests were: Amandine Lobelle - COO, Paystack. Cheslyn Jacobs - Chief Commercial Offier, TymeBank. Wiza Jalakasi - VP of Global Merchant Business, ChipperCash. Our podcast friend and alum, Munya Chiura. Enjoy! If you are interested in this topic and want to learn more and about Fintech in Africa, AWS and Africa Fintech Summit recently published a white paper; titled The Growing Role of Cloud in Africa's Burgeoning Fintech Sector. https://africafintechsummit.com/ecosystem-insights/reports-white-papers/ https://chippercash.com/ https://www.tymebank.co.za/ https://paystack.com/ https://flutterwave.com/us/ You can also learn more about Fintechs and Startups on AWS https://aws.amazon.com/startups/ or https://aws.amazon.com/startups/FinTech/

How does one become an industry leader in the banking game? Linda Appie, the CMO of TymeBank, joins Gareth Cliff to discuss the company's history and business model.

In the latest episode of ‘The Money Podcast' we sit down with Cheslyn Jacobs, the Chief Commercial Officer of TymeBank – billed as one of the world's fastest-growing digital banks. Cheslyn shares his incredible journey from growing up in the Cape Flats to climbing the corporate ladder and the lessons he has learned about money, people and wealth along the way. This episode is a must-listen for anyone seeking inspiration, direction, and motivation to reach for bigger dreams. Cheslyn's story is not only incredibly inspiring for all South Africans, but also speaks to our unique history and aspirations as a country. YouTube Channel · Website · YouTube Channel

Coenraad Jonker, co-founder and CEO of TymeBank talks about their decision to cooperate in business with TFG.    Steven Ambrose, MD at Atvance Intellect explains what ChatGPT is and whether you should be worried that it will take your job.    Grace Harding, CEO of Ocean Basket on how they are keeping their restaurant chain in good shape — as well as their global expansion plans. See omnystudio.com/listener for privacy information.

Chris Becker, managing executive of cyber banking at TymeBank, explains why the technology on which Bitcoin rests is so revolutionary, and discusses the differences between proof of stake and proof of work (PoW), criticising some arguments for PoW.

Chris Becker, managing executive of cyber banking at TymeBank, explains why the technology on which Bitcoin rests is so revolutionary, and discusses the differences between proof of stake and proof of work (PoW), criticising some arguments for PoW. Moneyweb Crypto news articles

Refilwe Moloto speaks to Jarred Deacon, head of the TymeAdvance team at TymeBank, about the facility they have created which allows workers to get an advance on their salaries, interest-free and without credit checks.See omnystudio.com/listener for privacy information.

Johan van der Merwe – Co-CEO, African Rainbow Capital

Lord Peter Hain, British politician & anti-apartheid fighter and Athol Williams, former senior partner at Bain & Company discuss the decision by the UK government to suspend doing business with Bain & Company for three years — and why the SA government is silent on the matter. Coen Jonker, co-founder & CEO at TymeBank on the digital bank acquiring leading fintech SME founder, Retail Capital, as it bolsters its business banking offering. Victor Barbosa, creative entrepreneur and co-founder of Naked Coffee shop is our shapeshifter for the weekSee omnystudio.com/listener for privacy information.

Coenraad Jonker – mede-stigter en uitvoerende hoof, Tymebank

TymeBank is buying SME-funder Retail Capital to make a big push into business banking. The deal, which is subject to regulatory approval, will allow TymeBank to to expand its offering to entrepreneurs to include working capital finance. Business Day TV spoke to TymeBank's CEO Coen Jonker about the acquisition.

Guest: Coen Jonker | Co-Founder & CEO at TymeBank| See omnystudio.com/listener for privacy information.

Coen Jonker – CEO, TymeBank

Guest: Coen Jonker | CEO at TymeBankSee omnystudio.com/listener for privacy information.

Portia Derby, CEO at Transnet on how they are turning their fortunes around. Paul Cruickshank, CEO of RCL Foods and Evan Walker, portfolio manager at 36ONE Asset Management discusses global inflation and how its impacting local food production. Coen Jonker, CEO at TymeBank is our Shapeshifter for the week. See omnystudio.com/listener for privacy information.

Guest: Coen Jonker | CEO at TymeBank| See omnystudio.com/listener for privacy information.

Having successfully launched in South Africa, and with an imminent launch in the Philippines, TymeBank is looking for further international expansion. Current SA CEO Tauriq Keeran tells Stuff Studios editor-in-chief Toby Shapshak about his transition into group executive for growth projects. Read more on Stuff.

Coenraad Jonker – mede-stigter en uitvoerende hoof, Tymebank

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: Welcome to another episode of our Daily Fintech Podcast. This podcast episode is sponsored by Sokin. Sokin is the trusted global FX payment provider for some of the world's leading brands. With Sokin Premium you can send and receive unlimited international payments for one fixed monthly fee. Market beating rates, no commission, hassle-free. THE NEWS HIGHLIGHT OF THE DAY IS The Financial Conduct Authority said that all Crypto-ATMs machines in the UK must be shut down or it will take action. JUST IN: €10 million were raised for Ukraine through donations of Revolut customers, which were then matched by Revolut itself ALSO: MTN added more than R11bn to its market capitalisation as Africa's largest mobile operator. It has now passed rival M-PESA Africa to become the biggest mobile payments business on the continent by users. FURTHERMORE, Atlantic Money, a money transfer fintech has moved out of stealth with a promise to take on the likes of Wise and Revolut with a cheaper offering for larger value transactions WHAT ARE THE LATEST INSIGHTS? In 2021, Latin American startups raised $14.8 billion across nearly 800 deals, according to PitchBook Data, making this the fastest-growing region in the world for venture funding. Forecasts predict a total market value for embedded finance at $7.2T by 2030. Fintech experts anticipate three areas of value growth: insurance, lending, and payments. AS FOR PARTNERSHIPS Digital-only bank, TymeBank has partnered with National HealthCare Group to introduce TymeHealth, billed as one of the most affordable medical insurance solutions available to local consumers.

In this episode: Absa launches Mobile Pay app – accept card payments with your phone Google Opinion Rewards launches in SA, lets you earn Play Store credits for taking surveys TymeBank launches TymeHealth, low-cost medical insurance for South Africans Tech Byte airs daily from Monday to Friday. For the latest tech news, be sure to follow Stuff on Twitter, Facebook and Instagram or head on over to our website.

TymeBank is diversifying its offering. The digital bank has announced that it will be launching health insurance known as TymeHealth, in partnership with National HealthCare Group. Business Day TV spoke to ​TymeBank CEO Tauriq Keraan for more detail.

10X founder Steven Nathan shares his rational opinion on several social and investment matters in the limelight. Mandatory vaccination, which many of the large South African corporations are implementing, is discussed. Nathan outlines that countries with relatively higher vaccination rates have seen a bigger uptick in economic growth than those with lower vaccination rates. He talks about the risks facing markets at the moment: lofty asset prices, inflation and the Omicron variant. Tencent's investment into South African challenger bank TymeBank rounds off the conversation. 

Coen Jonker – mede-stigter en uitvoerende hoof, TymeBank

CEO of TymeBank Tauriq Keraan unpacks the growth opportunities that will be created as a result of the Chinese conglomerate's investment into the challenger bank. TymeBank, controlled by Patrice Motsephe's investment arm African Rainbow Capital, intends on using the latest funding of $180m (R2.9bn) to invest in growth opportunities in South Africa and internationally. Tencent, along with the CDC Group, has injected more than R1bn into TymeBank to become new shareholders. Keeran is excited to harness the expertise of Tencent, as one of the leading financial technology-driven companies in the world. TymeBank recently launched several exciting partnerships with some of South Africa's most recognised brands, which Keeran expects to bear fruit in the upcoming financial year. 

Tymebank has bagged funding for its expansion plans. The digital bank as it secured $180 million in its series B-capital raise,from investors like Tencent and CDC Group. Business Day TV spoke to TymeBank's CEO Tauriq Keraan for more insight

Tauriq Keraan – CEO, TymeBank

Guest: Tauriq Keeran | CEO at TymeBank  See omnystudio.com/listener for privacy information.

Tauriq Keeran, CEO at TymeBank, discusses Chinese Internet giant Tencent Holdings's investment in the company. Kevin Lings, chief economist at Stanlib Asset Management on the contraction of SA's GDP in the third quarter of 2021. Then in Investment School, Mduduzi Luthuli, co-founder and executive director at Luthuli Capital explains why no financial or investment plan can make you wealthy without mastering your financial behaviour  See omnystudio.com/listener for privacy information.

Johan van Zyl – co-Chief Executive Officer, ARC Investments

Tauriq Keraan – CEO, TymeBank

Miguel Armaza sits down with Coen Jonker, Executive Chairman and Co-founder of Tyme, a digital banking business operating in Africa and Southeast Asia. Tyme’s flagship project is TymeBank in South Africa, which was launched in February 2019 and has since grown to over three million customers just over two years. An incredible growth! In this episode, we discuss: - Coen’s background and why he’s always been interested in the transformative potential of business for economic inclusion - Idea behind TymeBank and why Coen and his co-founders decided to launch banking solutions for the unbanked in South Africa - Decision behind launching a hybrid banking model, integrating the digital bank into retail environments - Scaling to 3 million clients in 2+ years - Stories from a tough fundraising journey and how their largest shareholder come to be a group of ordinary citizens and community groups in South Africa - International expansion to Southeast Asia - Entrepreneurial lessons for founders in emerging markets - And a lot more! Coen Jonker Coen Jonker is the Executive Chairman and Co-founder of Tyme, a digital banking business operating in Africa and Asia. Tyme’s flagship project is TymeBank in South Africa. It was launched in February 2019 and has since grown to over three million customers making TymeBank one of the fastest growing neobanks worldwide. Coen began his career with Edward Nathan Corporate Law Advisers (now ENS) in 1996 and became its CEO in 2000. In that year, he also joined the Nedcor Investment Bank executive committee. In 2005, he left legal practice to join Standard Bank as Director of Community Banking. There he led a strategy to extend banking to underserved consumers, adding digital channels and more than a million additional customers to the bank. In 2011, he moved to Deloitte as a Partner in the strategy and innovation practice. In June 2012, Tyme was spun out of Deloitte as a new venture. The business was acquired by the Commonwealth Bank of Australia (CBA) in January 2015, after which Coen moved to Hong Kong to lead CBA’s digital initiatives across Asia. In 2017 he was appointed Group Executive at CBA, responsible for its international retail banking and insurance business. At the end of 2018 Coen partnered with African Rainbow Capital (ARC) to buy the Tyme business from CBA. He holds an MBA from GIBS and two law degrees with honours. He has held multiple Board positions, including eBank Namibia, Vietnam International Bank and PT Bank Commonwealth in Indonesia, which he chaired until December 2018. For more FinTech insights, follow us below: Medium: medium.com/wharton-fintech WFT Twitter: twitter.com/whartonfintech Miguel's Twitter: twitter.com/MiguelArmaza Miguel's Newsletter: https://bit.ly/3jWIpqp

Covid-19 has accelerated digital adoption. TymeBank has managed to attract a record number customers despite the pandemic and the digital bank now boasts a customer base of 3 million. Business Day TV's Alishia Seckam caught up with its CEO Tauriq Keraan for a review of TymeBank’s performance, as well as its outlook.

In this episode: Load shedding app, EskomSePush has been removed from the app store Tymebank is launching overseas and creating its own credit card PharmaGo, an app that will deliver your meds and prescriptions, has just launched in South Africa Tech Byte airs daily on Monday to Friday. For the latest tech news, be sure to follow Stuff Magazine on Twitter, Facebook and Instagram or head on over to our website.

Overview: Today we’re going to discuss the rise of Neobanks in Africa. We’ll start with reviewing Neobanks in other emerging markets, discuss the landscape of neobanks across different African regions & end with our general thoughts and outlook. This episode was recorded on Mar 7, 2021. Companies discussed: Nubank, TymeBank, Kuda Bank, Umba, DoPay, Zazu, PiggyVest, Cowryrise, Risevest & Bettr Business concepts discussed: Retail banking strategy, customer segmentation strategy & low-end disruption Conversation highlights: (01:00) - What do we mean by neobanks, in this context (02:20) - Why we’re talking about neobanks (03:20) - The Nubank story: Brazil background, growth, strategy and fundraising (17:09) - Context and background on banking in Africa (17:40) - Focus on banking context in Nigeria, South Africa and Kenya (23:50) - Opportunities and challenges for Africa’s neobanks (34:54) - Neobank startups in South Africa (35:40) - Tyme Bank deepdive (44:25) - Neobank startups in West Africa (45:10) - Kuda Bank deepdive (53:40) - Neobank startups in East Africa (56:40) - Neobank startups in North Africa (1:01:30) - International candidates to create neobanks in Africa (1:05:40) - Bankole’s overall thoughts and outlook (1:18:10) - Olumide’s overall thoughts and outlook (1:28:56) - Recommendations, small wins and open questions Olumide’s recommendations, small wins & open questions: Recommendations: Unscripted: Life, Liberty, and the Pursuit of Entrepreneurship (MJ Demarco), When 95% of your customers can’t afford $30/year (by Jason Njoku): Great article, it has similar themes to our uLesson pricing strategy discussion & 3 Idiots (2009 movie): Outstanding movie about friendship, creating your own path in life & education Small win: Setup my Staples Dexley chair. Gotta get the right gear if you're working from home all the time Open question: What's the best starting point of features if you want to build a consumer wealthtech app? Bankole’s recommendations, small wins & open questions: Recommendations: The Creator Economy (by Packy McCormick) & Frontier Fintech Substack (by Samora Kariuki) Small win: Fixed my routine and exercising regularly Other content: Invest Like The Best podcast episode on Tinkoff Bank Open question: Are you optimistic or pessimistic on the potential for neobanks? What are we missing? We’d love to hear from you. Please email info@afrobility.com to share feedback or propose topics you’d like to hear. Join our insider mailing list where we get feedback on new episodes & find all episodes at Afrobility.com

Offshore / US Durable Goods Orders Surge In January To Pre-COVID Highs / FB to pay Australian media / Latest Warren Buffet letter / Warren Buffett's $10 billion mistake: Precision Castparts / House passes $1.9 trillion Covid relief bill, sends it to Senate / Opec+ meets on Thursday Local / Budget / Sasol results (no rights issue) / TymeBank gets R1.6bn / Goldfields gets go-ahead to build 40MW solar plant at South Deep Mine / Implats results and dividend / Woolies results

Coen Jonker - medestigter en direkteur van TymeBank

Tauriq Keraan – CEO, TymeBank

Bruce Whitfield speaks to Tauriq Keeran, CEO at TymeBank about its R1.6 billion in foreign investment. Kumba Iron Ore doubled its annual payout in 2020. Headmaster on the Investment school is David Shapiro is on why young investors should buy individual stocks and not mutual funds  See omnystudio.com/listener for privacy information.

For all the flack they've been getting, there's no easier way to reduce your tax liability than pension fund contributions. In this week's episode of The Fat Wallet Show, we help Megan correct an assumption about her tax savings on retirement annuity contributions. We use the opportunity to talk about offshore allocation and prescribed assets. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Win of the week: Megan I listened to your "To RA or Not" episode today, and one of the questions (about RA contributions vs paying off a bond) reminded me of a dilemma I've been wondering about for a while. I'm 25 and working as a junior engineer. My marginal tax rate is at 26%. I'm currently putting R3000/month into my TFSA (Satrix MSCI World ETF with Easy Equities) and R2000/month into a Sygnia RA with decent fees. I save R1000/month in a TymeBank goalsaver for holidays. After that I can't really afford more savings at the moment, which means I'm not adding anything to my long-term discretionary investments. (I have an emergency fund and enough short-term investments for my needs and goals.) My question is this: Considering  1) The Regulation 28 requirement on the RA which limits global diversification,  2) My low tax bracket, and 3) The fact that Rand devalues around 4% per year to the dollar,  is the RA really worth it?  Putting money into an RA saves me 26% now. But what if I were, instead, to put that R2000 into a discretionary investment (e.g. MSCI World ETF)? If the MSCI World outperforms the local 70% of my RA by 4% a year (which seems likely imo), then surely the discretionary fund would be "outperforming" the RA in the long term?  For arguments' sake, with the assumption that global returns outperform Rand returns by 4%, then after 10 years, R2000 in the RA + 26% (assuming I could magically reinvest the tax return instantly) would be worth (2520 x 0.3 x 1.04^10) + (2520 x 0.7) = R2883.  While R2000 in the discretionary global ETF would be worth: (2000 x 1.04^10) = R2960.  (I mean this in relative terms, I don't really expect 0%).  This difference would only get greater over time due to compounding.  The other thing is that the RA money will all get taxed in future. And that the RA fees, although low, are higher than the discretionary fees.  So while I fully understand the tax benefits of an RA for people earning at 45%, I'm not as convinced for those of us in some of the lower brackets. What do you think? Is my assumption wrong about global markets showing better returns? Is it normal to feel this uncertain about putting so many eggs in the SA basket, or am I being silly? Is an RA worth it for me now, and if not, when does it become worth it? 

We use my long-awaited holiday to catch up to some user questions for the next three weeks. We hope you enjoy the shorter episodes as much as I plan on enjoying my break! IM I have an Old Mutual Endowment policy that matures in November 2020.. I also have a lump sum in a TymeBank account in various GoalSaves, which I don't need to use any time soon. I have another lump sum in an African Bank account.  I'm not sure whether I should pool all the money and put it into a fixed deposit account with African Bank for 5 years (the interest rate is very attractive at 10.01% annual interest payout) and have the interest payout annually, so that it doesn't go over the R23,800 tax exemption. Or should I take the money and invest it into ETFs, split 50/50 into local and international. With the idea of investing for dividends and growth. I know that I won't be sheltered from taxes if I do this. I was thinking of splitting it between the following ETFs (I use the same ETFs for my TFSA): Coreshares Preftrax Coreshares DivTrax Satrix Divi Coreshares Top 50 Coreshares Property Income Coreshares Global DivTrax 1nvest Global REIT Satrix MCSI World Satrix S&P500 Sygnia 4IR If I decide to do the fixed deposit, then I was thinking of using the interest payout each year and invest it in ETFs (and be subjected to taxes). My wife doesn't know anything about RA/TFSA tax benefits or investing, and has absolutely no interest in using her TFSA. I even helped create and set up one for her on Easy Equities. I could use the fixed deposit interest payout and then fund her TFSA each year and then top it up to max it out as well. However, the disadvantage is that on death, then the TFSA will form part of her estate. And then lastly, I could also put it into my RA, which I currently have with Sygnia (Sygnia Skeleton Balanced 70). I won't benefit from a tax return, but will possibly benefit from CGT, DWT and tax on interest earned. I'm finding it difficult to make a decision on what would be most beneficial. Any suggestions on what I could do with this lump sum? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Ash I switched the Sygnia MSCI USA to their new Health Innovation fund. This is an active fund (with performance fees

Empowerment investment firm African Rainbow Capital (ARC) Investments has posted what it deems a satisfactory performance for the year ended June 30, 2020, considering the challenging operating environment that has dragged the performance of many of its portfolio investments. The group achieved intrinsic growth in its portfolio of investments of 2.1% to R9.94-billion, with its intrinsic net asset value share up 2.1% to 9.54c apiece during the year under review. “While this is significantly below the medium- to long-term expectation of 16% a year, it is indicative of, and is aligned to, the market performance in the current economic and political environment,” said ARC co-CEO Johan van der Merwe. “Our performance in the period under review was first impacted by the poor trading environment as a result of a pedestrian economy. Subsequently, with the onset of the Covid-19 pandemic, the challenging operating environment was exacerbated.” Some investments experienced a significant acceleration in business activity, while others experienced a marked slowdown, with ARC benefiting from its diverse portfolio. While this had assisted the company to perform satisfactorily on a relative basis to its peers and other listed investment holding companies, ARC said it is not pleased with its performance, as key performance metrics on an absolute basis were missed. Telecommunications business Rain and newly acquired will and estate administration and insurance business Capital Legacy benefited during the national lockdown, employees of TymeBank and Alexander Forbes continued to work remotely during the closures, and Bluespec and Autoboys had been closed for the duration of the lockdown period. As the lockdown regulations ease, all entities continue to work towards getting back to their pre-lockdown trading state. Rain, which accounted for 27.9% of the fund value, experienced a surge in subscriber numbers as people were required to work from home and economic and social activities moved online, including schooling, entertainment and connecting with family and friends. Rain’s fourth-generation roll-out has also progressed well, with 5 500 active sites live by the end of April, along with 447 fifth-generation towers. The ARC Fund’s investment in Rain increased from R2.5-billion as at June 30, 2019, to R3.1-billion as at June 30, 2020, mainly as a result of a fair value write-up of R479-million. Meanwhile, specialist financial services firm Capital Legacy, in which ARC Financial Services acquired a 25.9% shareholding during the year under review, experienced a surge in the number of clients signing up for a will. “The Covid-19 pandemic exposed the extent to which South Africans appear to be ill-prepared to get their financial affairs in order should they die unexpectedly. It is estimated that some 75% of South Africans die without a valid will in place,” the company said in its financial results report. Capital Legacy assists about 6 000 people a month with the drafting of their wills and about 5 000 people taking out insurance against the administration cost associated with the winding up of the estate on passing. TymeBank and Rand Mutual Holdings experienced some initial difficulty, Van der Merwe noted. TymeBank, accounting for 8.3% of the fund value, experienced a drop in footfall to its kiosks located inside Pick n Pay stores in March and April under the national lockdown levels five and four. Further, the digital bank experienced some challenges in terms of lower customer acquisition numbers and reduced transactional volumes, which, together with the uncertain economic environment, triggered a revisit of the TymeBank strategy and changes to its revenue and cost model, with the result being a broader and diversified product offering to break even complemented with a streamlined, more efficient cost base. The bank managed to increase its customer onboarding rate to pre-lockdown levels of between 110 000 and 1...

With the cost of living climbing, most South Africans run out of money before the end of the month. TymeBank found that 76% of people run out of money by the 15th of every month. In this episode, I discuss: -how to budget -which tools to use -budgeting strategies -budget accountability Get your R10. Use my code YOL2270 when you get a Stash https://api.stash.co.za/memberreferral. Invest your spare change

CMO of TymeBank, Luisa Mazinter shares insights on how her organization is shaking up consumer banking. Luisa and show host, Julia Ahlfeldt discuss how TymeBank is looking at customer needs differently, what it means to build a value proposition that appeals to attitudes rather than demographic market segments, and how passion and purpose have been the leadership team’s guiding light. If you’re seeking inspiration about the power of looking at customer-centricity with fresh eyes, then this episode is for you.       Digital customer experience as a catalyst for change As is the case in many markets around the world, the South African banking sector is amid a significant time of change. Episode 9 featured an interview with Charl Nel and Shaun Ray form Capitec Bank (check out part 1 here and part 2 here). Until recently, Capitec has been the new kid on the block, challenging the status quo of banking with a value proposition focused on ease and simplicity. Capitec has grown steadily since their launch in 2001 but during the course of the last year, an even newer breed of banks have come knocking at the door, ready to nip a the heels of Capitec and the established banking brands. Leading the change has been TymeBank, South Africa’s first digital bank which officially launched in early 2019. TymeBank has no branches and its core banking system is hosted securely in the Cloud. This reduces its overheads and delivers significant cost-savings that are passed on to its customers. Through a distribution partnership with retailers Pick n Pay and Boxer, TymeBank has kiosks located at stores across the South Africa. Customers can open an account at these kiosks in under five minutes. An important part of Tyme’s value proposition is their combination of low banking fees paired with competitive interest returns, something their lean operations enable them to do.   A CMO's perspective A digital bank without a traditional branch network certainly represents a paradigm shift in the world of banking, and the leadership team at TymeBank has put the customer at the center of everything since day one. No one is better positioned to share insights about this than Luisa Mazinter. Luisa is the Chief Marketing Officer of TymeBank. She’s been with them since 2017, and her professional background has certainly primed her for this unique job. She has had a vast and diverse career including being the Chief Innovation Officer at Mortimer Harvey, an adjunct faculty member at GIBS Business School, and consultant on strategy and change to some of Africa’s biggest brands.   Luisa Mazinter, CMO of TymeBank   Key takeaways Luisa shared a lot of insights about how the team at TymeBank has approached things differently. And the great thing is that these can be applied to nearly any industry context.   Look at customer needs, not products Create a CVP that appeals to attitudes, don't get hung up on demographic segments Ensure that as you grow the business, you hire people with a shared passion for the purpose and values If you are a small/agile company, look for simple ways to maintain the culture Keep a pulse on customer interactions through data, report back on this and act accordingly Think not only about how customers benefit form your products, but how they benefit from your impact in the marketplace     Episode Sponsor   This episode was sponsored by CX University, a CX training company offering a broad array of CX learning options, including e-learning modules and CCXP practice exams. CXU is an accredited resource and training provider and their resources and they offer a flexible and affordable monthly subscription model. Listeners of this CX podcast can get 10% off their first month's subscription by entering the discount code PODCAST10 at checkout. Decoding the Customer is a series of customer experience podcasts created and produced by Julia Ahlfeldt, CCXP. Julia is a customer experience strategist,

I've only ever known debt as the wrathful destroyer of wealth and happiness. Lately, however, I've come to realise debt can be a powerful tool in your financial arsenal - if you treat it with respect. Someone recently explained the logic behind maxing out his child's tax-free account instead of saving for her education. If a single year's tax-free contribution can cover much of your child's living expenses in retirement, imagine what 15 years' worth can do. Giving a tax-free account time to grow will have greater benefits in the long run than if she started contributing when she started working. Instead, she can use her starter salary to pay back low-interest study debt with her retirement taken care of. It's genius. This conversation got me wondering whether I'm making the most of the debt I have available. My home loan is currently the dumping ground for all my savings. This brings down my repayment period and guarantees a higher interest rate on cash savings than any bank can offer me. In this episode we discuss how low interest debt instruments like student loans and home loans can be used to inch us forward financially. We discuss why cars and clothing accounts won't form part of this strategy and try to figure out when a credit card can help. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Alexander My studies are financed by my parents' home loan that has an interest rate of 9%. This interest rate is still currently better than student loan interest rates I could obtain (10%+). The idea is that I'll start to repay my parents as soon as I start working. I calculated that I'd most likely graduate with R350,000 to R400,000 student debt owed to my parents. Should I use the very little free cash I have from my monthly allowance, vacation work and mentoring remuneration to: Contribute to my all-ETF TFSA at EasyEquities? or Contribute to my savings account with TymeBank (at a 10% interest rate) to pay off my student debts sooner when I graduate? I know the amounts I'm investing/saving now might be insignificant relative to the massive amount of student debt. But I'd still like to know what is better: investing in your TFSA or attacking student loan debt as soon as possible? Clarke My wife and I are in the process of finalising plans to build our dream home. We've saved up about 50% of the funds required, which is sitting in a money market account. We hope to get close to 90% building loan from the bank which would enable us to use very little of our own cash in the initial stages of the build. Hopefully we can pour that money into the loan as required in order to keep interest payments to a minimum while having access to the bond if required. I'm currently working on an exact schedule of cash flows, but I would require to draw down our investment periodically over the next 7-9 months in order to keep the loan amount to a minimum. Which investment would you advise I could look into apart from money market accounts or fixed deposits that might yield greater returns without substantial additional risk? Siphathisile When I did my articles 2017-2019, I went to the SARS website and answered questions to see if I need to file a tax return. The website said I didn't need to, I'm guessing because I earned too little. Now that I am a qualified professional I know I will have to and I have no clue where to begin...stories about long queues at the SARS offices make me keep procrastinating on going there. My company offered to pay half my medical aid. Should this affect my PAYE tax amount? Am I paying tax on my gross amount or on my (Gross plus medical benefits) ? I asking because the difference in the amount is nearly R500 and that hurts. Am I liable to pay UIF since I am not a permanent resident and I am not a citizen of south africa? Will I be able to claim if I was ever unemployed in South Africa? Shaunton Do you think it would be more beneficial to add more contributions to my RA or do you think I must open an easy equities ETF account if I want to save more over and above my TFSA and RA? Steve shared an excellent article. Reduce your tax bill in the current tax year Reduce your tax bill in the next tax year or in future tax years (any unused portion carries over indefinitely) Reduce your tax bill when you withdraw or retire from a retirement fund Help you to get tax back from SARS on your living annuity income when you file your tax return Reduce the tax bill on cash your beneficiaries may choose to take from your retirement fund or living annuity on your death Francois has an idea for a calculator to work out how much money you have left until you die. It should show you how your savings grow on a daily basis! So what must it do? You tell it how old you are and when is your birthday. You tell it to what age more or less you intend living. 8, 90,100 You tell it what your balance is of all your money and assets. It then works out how many days are left from your current day to that age and it calculates how much money you can spend per day up to that age. If you don't spend any money today, tomorrow your daily spend automatically increases since you did not spend anything today or you received interest overnight or whatever. You see your balance grow NOT monthly, but daily! Later you add on expenditures and it automatically calculates your new daily balance and so on. MacGyver I have a TFSA through FNB. I max it out every year, it's the first money I put away. However, it sits in cash in this FNB TSFA. How do I go about transferring this to Easy Equities Tax Free account so that I may invest in ETFs instead of it simply sitting in cash in my FNB account? Register here to attend Stealthy Wealth's meet-ups.

On today's episode, Josh and Zack dive into the rising trend of banking as a service. As companies like Walmart and Apple continue to introduce financial services, they clearly don't want to be banks. Instead they turn to banking as a service players. Interestingly, challenger Starling Bank is embarking on a BaaS strategy, much like Amazon does with its AWS group. Also in this episode: South Africa's first challenger TymeBank uses online/offline distribution strategy and Uncle Warren's admonition for Wells Fargo's CEO search committee to find someone outside of Wall Street

Money is inextricably linked to every aspect of our lives. Every milestone and setback is either helped or hindered by our financial situation. When we plan for life events like weddings, babies, retirement or death, we also think about their financial impact. Most of us fall short in planning for things we don't like thinking about. When our nightmares become a reality, the last thing we want to worry about is money. This is normally what insurance is for. Sadly the insurance industry is a flakey ally. In this week's show, we discuss the financial impact of debilitating sickness. We talk about the preparations you should think about when you're healthy, as well as some options for people who are already dealing with this difficult reality. Louis Over the last couple of years I went from buying a new, heavily financed car every one or two years, to (almost) owning one car for four years and the other for 10+ years. I scaled down after parting ways with a major client. I decided to pay off all debt except my house. I saved the R8,000 I would have paid on my car each month and in 2.5 years had the money earning interest in my bond. I started investing in the stock market and also have a number of ETFs, including a CoreShares tax free account that actually gave me a good return over the last three years. We adopted at the ripe young age of 45, which changed my outlook on money. My wife was diagnosed with MS last year. Suddenly all the insurance policies and annuities became important as we had to become a single income family.   We took out a combined policy with life cover and LIVING LIFESTYLE COVER (with all the PLUSES, which Liberty say they gave us for free). According to what my current broker and I could deduct - upon diagnosis we should receive 25% of our insured value. This is not the case, though. Liberty has their own definition of MS and you should tick a number of boxes. Even though my wife had several problems relating to MS, we were not entitled to any payment. Not once did Liberty make contact with my wife's neurologist, doctor or anyone else. My wife had a relapse during the year. At first Liberty again refused any claim without making contact with anyone. Eventually they paid 25% according to their sliding scale. Now that my wife stopped working, I've had to employ a neurologist to advise me in order to decide on further action. In our situation we will survive on my income, taking into account retirement provision might be a problem. What do other people do when the sole breadwinner is in the same situation? Secondly I checked the annuity we have been paying for the last 15+ years and realised that the return was just over 6% for the period after cost. The obvious thing to do was to cancel, for which the charge is 5%. They say that after 15 years they have not recovered all their cost. There is a contribution charge of 4.5% and then they charge a management fee of almost 2% on top of that. I wrote to the pension fund adjudicator and after waiting almost seven months and requesting feedback a number of times, I received feedback basically saying they can charge up to 20%. I am moving the money in any case as I am sure we will be able to do better somewhere else. R14,000 on a R280,000 value. If you deduct the R14,000 my real growth over the period is probably very close to 0%. What is the best fund with a moderate to high risk to try and make up for lost years? We already have investments in Allan Gray Balanced and similar funds. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Gareth The problem with dread disease cover is the companies' definitions of their sicknesses. I unfortunately had the same claim disappointment when my wife was diagnosed with Crohn's disease, I then only found out that they pay out 25% of the dread disease assured amount. The same goes for MS and most autoimmune diseases. We pay discovery R12,000 pm on the top Medical aid so they can pay R30,000pm for her medicine. Liberty should've asked for medical reports etc from the doctor as part of the claim process. I always say that dread disease is a nice to have, same as capital disability, but the most important benefit to have is income protection. The income protection doesn't look at your illness but more at your ability to do your specified occupation. It is more expensive but will pay out in a lot more cases. Win of the week: Riani, who is 13, and her sister Juané, who is 7. Their mom tells me they already know what the ALSI is. Brendon I'm able to invest R15,000 a month. Should I go down the ETF or individual share route? Do I incorporate property ETFs too? Should I open an EasyEquities account or with another company? Steve I'm still left wondering what to buy, especially for my TFSA. There just doesn't seem to be any right or wrong answer? All things considered, what would be your preferences if you wanted exposure to the following: US Markets? World Market - Developed? World Market - Developed & Emerging? South Africa? My understanding is that the US leads the world economy so what are the chances of their markets slowing down while the rest of the world starts ticking? If that's unlikely, surely one could just as well stick with the US? Donal I did a spreadsheet to work out the tax for the two scenarios and I then backtracked and worked out the present value. There's not a huge difference. The tax man would get almost the same amount of tax from me eventually even if I leave the pension alone! I've listened to you guys saying many times we should clear our debt as fast as possible. I currently have a large car loan at prime + 0.9%. I change my car approx every 2.5 years. In that time I'll generally only have paid off half the loan. My trade-in value usually just covers the outstanding amount and then I need to get a new loan for the full value of the next car and the cycle starts all over again. I commute to work and drive approx 1,000km per week. So after 2.5 years I've clocked up around 120,000km. That's around the time that things start to go pear-shaped with a car. I could pay extra into the loan and reduce the capital quicker. Let's say, for example, instead of paying into my TFSA I put R2750 per month into my car loan. So, like I do, I've run a spreadsheet and I've found that after 18 months (which is when I will change again) my capital balance will be R60k less than if I didn't pay in the extra. So the loan on my next car will be R60k better off. This sounds great, but the problem then is that my TFSA capital doesn't grow! And if I continue to do this every time I buy a car I'll then my TFSA will always suffer. Eventually I'll be in the situation where my initial loan amount will be small enough that I'll be able to pay off my car loan before I have to change my car again. In that period I can catch up on savings for a few months. But I reckon it's going to take about five more car changes to get to that stage! By then I would almost have my TFSA maxed to R500k and I should be sitting back with my feet up watching it grow and grow! The thought of not investing in my TFSA for the next 10 years is extremely painful and seems to be counter-intuitive. But should I just suck it up and rather focus on clearing my car loan every month? Sabata You guys were slagging retirement annuities as if they are lepers!  Any unused contributions to an RA can be carried forward, which you mentioned somewhat unconvincingly.   This is not a 'small benefit', as you stated.  These unclaimed contributions can be carried forward all the way to retirement.  By then you probably won't be investing for retirement. You can use these to increase your tax-free lump sum you're allowed to withdraw, or to reduce the tax payable during retirement. Say you retire with R 50,000 per month. Tax payable would be R 12,582.25 per month.  Let's say you have enough unclaimed contributions banked. You could then claim your 27.5% of taxable income as an RA contribution. This would reduce your taxable income to R 36,250 even though you will no longer be making these contributions.  Your tax would be R 7,521.25, a saving of R 5,061 per month! That's worth a lot of bubbles, especially if you drink Four Cousins! About your diplomat who is based in Botswana, is she exempt from RSA tax because she is out of the country for more than 183 days, or is it because of her occupation?  I think it's the former. Rieneke I have a slightly different take on the issue. Use life cover as life cover when you need it, but change the purpose to inheritance when you no longer need it. You often take out life cover with a young family as you have to provide for them should something happen to you. As the kids then leave home or you no longer have dependants, the life cover is cancelled. Especially older folks who might no longer be able to afford the cover. In that case, offer it to your children as an investment. You have low premiums, having started young. Taking it out with the purpose of inheritance when you're older is too expensive and taking it out with this purpose when you're young is also expensive due to time and as your fortunes change, might also not be able to sustain it, in which case it was wasted. Ros I'm keen to move my emergency fund from a Money Market account to TymeBank. This seems like a no-brainer - If I understand their Ts & Cs correctly, once your money had been in a GoalSave account for 90 days, you get 10% interest for a 10-day notice period, up to a maximum of R100 000. I mentioned this to my Mom and she was very concerned that the bank could go under, a-la African Bank or VBS. What are your thoughts on this? Stealthy Wealth's FIRE-people are organising get-togethers in Durban, Cape Town and Port Elizabeth. Find out more here.

TymeBank has no branches and no monthly fees. Most transactions are free. Bruce Whitfield interviews its CEO.

Banks reverse illegal debit orders, is TymeBank worth the switch and dispelling those money myths that hold you back from creating wealth - Maya Fisher-French and Mapalo Makhu discuss this week's headlines in City Press's money section

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