Tyme Group Co-Founder & Executive Chairman Coenraad Jonker
The year 2023 was significant for Tyme Group, according to Co-Founder & Executive Chairman Coenraad Jonker in an email interview with e27. The Singapore-based digital banking group announces that its flagship operation in South Africa, TymeBank, has joined the five per cent of neobanks globally to be profitable—which it managed to achieve in just four years. “Yet our Philippines operation, GoTyme Bank, is currently onboarding over eight times more customers daily and almost four times more cumulative customers than TymeBank, further demonstrating the model and the huge potential for its application in Asia,” says Jonker. “This has helped us to achieve US$162 million in annualised run-rate and amass 10.8 million customers across the Group, with 2.2 million of those new customers located in the Philippines.” Jonker says that the digital bank is currently onboarding over 250,000 customers in the Philippines every month, where we also achieved 1,400 cash-in/cash-out points, installed 400 new kiosks, and launched an SME merchant cash advance with PayMongo in November. Also Read: Ecosystem Roundup: Grab invests US$109M into digital banking unit; VinFast to expand into Indonesia How does the company plan to further expand in Southeast Asia, particularly the Philippines? What insights can they share with us about the future of digital banking in the region? Find out the answers in this interview. The following is the edited excerpt of the interview. What lessons do you learn from the milestones you made in 2023? How do you plan to implement it in your strategy this year? Based on our learnings, Tyme has committed to current and future customers, investors, partners, and regulators. These include partnering with openness and humility with best-in-class technology solutions and third-party financial solutions; designing products and services to make banking simple, efficient…