#ThursdayTool - Bank Zero

Tool profile:

Bank zero

Synopsis:

Bank Zero, registered with the South African Reserve Bank in 2018, is an exclusively digital mutual bank in South Africa. It offers banking to both individuals and businesses. Bank Zero joins other new banks in South Africa, such as TymeBank and Discovery Bank Despite an original planned soft launch at the end of 2019, the bank is as of June 2021, conducting a closed rollout with beta testing, with a proposed launch date in mid-2021.

Banking at Zero cost

A simple and modern App-driven bank for both individuals and businesses, with a fresh approach towards banking. Focussed on solving real banking problems which you struggle with every day. Bank Zero caters for businesses with turnovers from really small to in the billions. Most banks don’t offer the required banking solutions to support businesses. This changes forever with Bank Zero

A Zero pricing strategy is important, but that’s not enough. Offering innovative functionality to ensure control and transparency, is critical. Both businesses and individuals require significantly more functionality than what is currently available to solve daily banking problems. Although most banks have started addressing the needs of individuals, most banks don’t offer the required banking functionality to businesses.

Type

Mutual bank

Industry

Banking, Financial services

Founded

January 16, 2018

Founder(s)

Michael Jordaan

Yatin Narsai

Line Wiid

Lezanne Human

David Longe

Mo Hassem

Jay Prag

Area served

South Africa

Website

www.bankzero.co.za