Big changes for TymeBank and one of South Africa’s biggest retailers (BT)

South African digital bank TymeBank has partnered with The Foschini Group (TFG) to offer customers three new financial products for shopping and banking. Through installing over 600 kiosks across TFG stores, including Foschini, Markham and Sportsscene, customers can now open a TymeBank TFG Money account in less than 5 minutes with no monthly fees or paperwork, said the group. TymeBank noted that the rollout of kiosks in South Africa would rival traditional distribution networks of other big banks in the country. TFG is the largest retail clothing group in South Africa, with over 30 brands and roughly 28 million loyalty members. Coen Jonker, the CEO of TymeBank said that the new partnership between the bank and retailer is unique, opening both companies to the opportunity to expand and diversify their customer profile. From TymeBank’s perspective, the new partnership could potentially expose it to over 28 million TFG loyalty programme members, said Jonker. Click here to read full article