TymeBank CEO Tauriq Keraan
Digital bank TymeBank has appointed Tauriq Keraan CEO, effective immediately.
He succeeds Sandile Shabalala, who resigned in June for personal reasons.
TymeBank now has 600 000 customers, five months after its official market launch in February.
TymeBank controlling shareholder African Rainbow Capital co-CEO Dr Johan van Zyl said Keraan would ensure continuity in the business, as he was a seasoned executive.
“Keraan has to ensure customer enrolment is sustained over the coming months and beyond. Given his experience, both as a member of the team that launched TymeBank and as someone who has worked in the space of digital innovation for more than a decade, we believe he will implement the business strategy successfully.”
Keraan commented that the customer enrolment numbers and activity rates were ahead of expectations and that the business was likely to sustain this momentum over the coming months.
“Over the next six to twelve months, we will deepen the way in which we meet customers’ needs by launching an account for small businesses, responsibly offering consumers unsecured credit, as well as serving a million consumers by year-end,” he stated.
TymeBank previously indicated that the overall market size of its target segment was estimated at about 20-million people.
It expects to have two-million customers by the end of the first three years in operation.