Tyme, one of the fastest-growing digital banking groups globally, has successfully secured two new international investors as part of its pre-series C capital raise launched in January this year. This comes as the group’s South African flagship, TymeBank, celebrates its 7 million customer milestone this month.
The success of TymeBank can be attributed to its innovative hybrid model that combines digital banking with physical services, making banking accessible to individuals across all economic backgrounds in South Africa. The bank has formed strong partnerships with prominent national retailers such as Pick n Pay, Boxer, and TFG (The Foschini Group), as well as the largest church in the country, the Zion Christian Church.
Additionally, TymeBank's acquisition of Retail Capital, an acclaimed fintech company in 2022, has enabled it to provide over R5.5 billion in working capital to more than 43,000 South African business owners, solidifying its position as the sector's largest SME funder. Through its low-cost banking offerings, exceptional customer satisfaction levels, and successful introduction of various products and services, TymeBank continues to make a significant impact on the lives of consumers.
Join us for this forum as TymeBank co-founder and CEO Coen Jonker discusses digital banking trends, the TymeBank story, and the group’s growth strategy in South Africa and beyond.
Coenraad (Coen) Jonker is the Chief Executive Officer of TymeBank and Co-founder of Tyme, the multi-digital banking group operating in Africa and Asia. TymeBank launched in South Africa in 2019 and has since grown to five million customers, making it 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. In July 2022 he took over the role of CEO of TymeBank, where he is spearheading the digital bank’s next growth phase.
Coen holds an MBA from GIBS and two law degrees with honours. He has held multiple Board positions, including eBank Namibia, Vietnam International Bank (VIB) and PT Bank Commonwealth in Indonesia, which he chaired until December 2018.
Time: 08:30 -10:00
Venue: GIBS Campus, 26 Melville Road, Illovo